Boston Beer (NYSE:SAM) Shares Gap Up – Here’s What Happened

Shares of The Boston Beer Company, Inc. (NYSE:SAM) gapped up before the market opened on Thursday . The stock had previously closed at $219.16, but opened at $226.74. Boston Beer shares last traded at $228.14, with a volume of 32,491 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SAM shares. StockNews.com cut shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Roth Mkm reissued a “buy” rating and set a $349.00 price target (down from $389.00) on shares of Boston Beer in a research report on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Citigroup raised shares of Boston Beer from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $280.00 in a research report on Thursday. Finally, Piper Sandler decreased their price objective on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Boston Beer presently has a consensus rating of “Hold” and an average price target of $292.40.

Boston Beer Price Performance

The company has a market capitalization of $2.55 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The company’s 50-day moving average price is $241.07 and its two-hundred day moving average price is $276.29.

Institutional Investors Weigh In On Boston Beer

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its position in shares of Boston Beer by 405.6% in the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after acquiring an additional 73 shares during the period. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 89 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after acquiring an additional 62 shares during the period. GeoWealth Management LLC bought a new stake in shares of Boston Beer in the fourth quarter valued at about $35,000. Finally, GAMMA Investing LLC boosted its position in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. Institutional investors 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.