Boston Beer (NYSE:SAM) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Boston Beer (NYSE:SAM) from a buy rating to a hold rating in a report published on Wednesday.

Several other equities research analysts have also commented on the company. Morgan Stanley cut their price objective on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Roth Mkm reiterated a “buy” rating and set a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Piper Sandler cut their price objective on Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Citigroup cut their price objective on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, UBS Group cut their price objective 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $293.40.

Boston Beer Trading Down 0.5 %

NYSE SAM opened at $237.74 on Wednesday. Boston Beer has a twelve month low of $222.27 and a twelve month high of $339.77. The stock has a 50-day moving average of $255.16 and a 200 day moving average of $279.93. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 1.23 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SAM. Kornitzer Capital Management Inc. KS grew its position in Boston Beer by 3.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 3,968 shares of the company’s stock worth $1,147,000 after acquiring an additional 129 shares during the period. Capital Performance Advisors LLP purchased a new position in Boston Beer in the third quarter worth approximately $138,000. Assetmark Inc. grew its position in Boston Beer by 12.4% in the third quarter. Assetmark Inc. now owns 4,154 shares of the company’s stock worth $1,201,000 after acquiring an additional 457 shares during the period. Covestor Ltd grew its position in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 34 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Boston Beer by 1,065.1% in the third quarter. Venturi Wealth Management LLC now owns 501 shares of the company’s stock worth $145,000 after acquiring an additional 458 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

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.