The Boston Beer Company, Inc. (NYSE:SAM) Receives Average Rating of “Hold” from Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $326.92.

A number of analysts have issued reports on the company. Morgan Stanley raised Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price for the company in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Beer from $273.00 to $283.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th. Roth Mkm dropped their price objective on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada reduced their target price on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Finally, Piper Sandler lowered their price target on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors and hedge funds have recently made changes to their positions in SAM. Armistice Capital LLC bought a new position in Boston Beer in the 4th quarter worth about $21,499,000. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Boston Beer during the second quarter worth about $16,014,000. D. E. Shaw & Co. Inc. increased its position in shares of Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares during the last quarter. Norges Bank purchased a new stake in Boston Beer in the fourth quarter valued at approximately $13,879,000. Finally, Jane Street Group LLC lifted its position in Boston Beer by 171.8% during the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock valued at $4,833,000 after purchasing an additional 37,985 shares during the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $283.50 on Wednesday. The company has a market capitalization of $3.39 billion, a P/E ratio of 35.57, a price-to-earnings-growth ratio of 1.13 and a beta of 1.05. The company’s 50-day moving average is $275.42 and its 200 day moving average is $283.98. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $395.52.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company had revenue of $579.10 million for the quarter, compared to the consensus estimate of $597.33 million. During the same period in the prior year, the company earned $4.72 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. As a group, research analysts predict that Boston Beer will post 9.65 earnings per share for the current year.

About Boston Beer

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.