Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) PT at $248.37

Shares of The Boston Beer Company, Inc. (NYSE:SAM) have been assigned an average recommendation of “Reduce” from the thirteen brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $247.2818.

A number of analysts recently commented on the company. Piper Sandler lowered their price objective on Boston Beer from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. UBS Group reduced their target price on shares of Boston Beer from $246.00 to $234.00 and set a “neutral” rating on the stock in a research note on Wednesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Boston Beer in a research note on Wednesday, October 8th. Jefferies Financial Group cut their price objective on shares of Boston Beer from $230.00 to $225.00 and set a “hold” rating on the stock in a report on Tuesday, September 30th. Finally, Citigroup reduced their price objective on shares of Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th.

Insider Activity at Boston Beer

In related news, Director Michael Spillane sold 3,120 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $205.78, for a total value of $642,033.60. Following the completion of the sale, the director owned 10,877 shares in the company, valued at approximately $2,238,269.06. This represents a 22.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 26.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Beer

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Boston Beer by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 950,131 shares of the company’s stock valued at $200,877,000 after acquiring an additional 43,045 shares during the period. AQR Capital Management LLC grew its holdings in Boston Beer by 340.4% during the third quarter. AQR Capital Management LLC now owns 647,060 shares of the company’s stock valued at $136,801,000 after purchasing an additional 500,120 shares during the period. Dimensional Fund Advisors LP increased its stake in Boston Beer by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 265,779 shares of the company’s stock valued at $56,191,000 after purchasing an additional 3,336 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Boston Beer by 8.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 258,403 shares of the company’s stock worth $54,632,000 after purchasing an additional 19,294 shares during the period. Finally, Gotham Asset Management LLC boosted its position in shares of Boston Beer by 1,752.2% during the third quarter. Gotham Asset Management LLC now owns 213,266 shares of the company’s stock worth $45,089,000 after purchasing an additional 201,752 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $206.70 on Tuesday. The firm has a 50 day simple moving average of $199.30 and a 200 day simple moving average of $209.09. Boston Beer has a fifty-two week low of $185.34 and a fifty-two week high of $260.00. The firm has a market cap of $2.20 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.51 and a beta of 1.04.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.78 by $0.47. The firm had revenue of $537.49 million for the quarter, compared to the consensus estimate of $542.97 million. Boston Beer had a return on equity of 12.29% and a net margin of 4.38%.The business’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.86 EPS. Boston Beer has set its FY 2025 guidance at 7.800-9.800 EPS. On average, sell-side analysts expect that Boston Beer will post 9.29 EPS for the current year.

About Boston Beer

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.