Piper Sandler Cuts Boston Beer (NYSE:SAM) Price Target to $240.00

Boston Beer (NYSE:SAM) had its price objective reduced by Piper Sandler from $275.00 to $240.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

SAM has been the subject of several other research reports. Morgan Stanley reduced their price objective on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday. Roth Mkm reiterated a “buy” rating and issued a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a report on Wednesday. StockNews.com upgraded shares of Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup dropped their target price on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, UBS Group dropped their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.40.

Boston Beer Trading Down 0.1 %

SAM stock opened at $243.80 on Wednesday. Boston Beer has a 1 year low of $222.27 and a 1 year high of $339.77. The company has a fifty day simple moving average of $257.33 and a 200 day simple moving average of $280.37. The firm has a market cap of $2.80 billion, a PE ratio of 35.85, a PEG ratio of 1.23 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAM. Creative Planning increased its holdings in shares of Boston Beer by 6.5% during the 3rd quarter. Creative Planning now owns 2,540 shares of the company’s stock worth $734,000 after purchasing an additional 155 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Boston Beer by 389.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,714 shares of the company’s stock worth $1,652,000 after purchasing an additional 4,546 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Boston Beer by 323.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,261 shares of the company’s stock valued at $984,000 after acquiring an additional 2,491 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its position in shares of Boston Beer by 3.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 3,968 shares of the company’s stock valued at $1,147,000 after acquiring an additional 129 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Boston Beer during the 3rd quarter valued at about $138,000. Institutional investors own 81.13% of the company’s stock.

Boston Beer Company Profile

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.