Boston Beer (NYSE:SAM) Hits New 1-Year Low – Here’s What Happened

The Boston Beer Company, Inc. (NYSE:SAM) reached a new 52-week low on Thursday . The stock traded as low as $222.27 and last traded at $222.46, with a volume of 55508 shares traded. The stock had previously closed at $226.03.

Wall Street Analyst Weigh In

SAM has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a research note on Friday, October 25th. UBS Group lowered their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Citigroup decreased their price objective on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Needham & Company LLC began coverage on Boston Beer in a research note on Friday, December 6th. They issued a “hold” rating for the company. Finally, Piper Sandler cut Boston Beer from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $370.00 to $275.00 in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $302.90.

Boston Beer Stock Down 0.3 %

The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 33.13, a P/E/G ratio of 1.24 and a beta of 1.06. The company’s 50 day simple moving average is $267.64 and its two-hundred day simple moving average is $282.03.

Institutional Trading of Boston Beer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after buying an additional 73 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock valued at $28,000 after buying an additional 89 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Boston Beer by 105.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after buying an additional 62 shares during the period. GeoWealth Management LLC purchased a new position in shares of Boston Beer during the 4th quarter valued at approximately $35,000. Finally, Covestor Ltd grew its stake in Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.