Deutsche Bank Aktiengesellschaft Trims Boston Beer (NYSE:SAM) Target Price to $277.00

Boston Beer (NYSE:SAM) had its price target dropped by analysts at Deutsche Bank Aktiengesellschaft from $281.00 to $277.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential downside of 6.41% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada cut their price objective on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research report on Friday, July 26th. Piper Sandler cut their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, Roth Mkm restated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Down 2.0 %

Shares of SAM stock opened at $295.96 on Thursday. Boston Beer has a twelve month low of $254.40 and a twelve month high of $372.61. The stock’s fifty day simple moving average is $279.71 and its 200 day simple moving average is $282.30. The firm has a market capitalization of $3.47 billion, a P/E ratio of 38.74, a P/E/G ratio of 1.23 and a beta of 1.06.

Boston Beer (NYSE:SAM) last posted its quarterly earnings data on Thursday, July 25th. The company reported $4.39 earnings per share for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. During the same quarter in the previous year, the company earned $4.72 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, equities research analysts expect that Boston Beer will post 9.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after acquiring an additional 21,060 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Boston Beer by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock worth $40,720,000 after purchasing an additional 9,997 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Boston Beer by 80.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after purchasing an additional 51,003 shares in the last quarter. Finally, Armistice Capital LLC increased its stake in Boston Beer by 1.1% in the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after buying an additional 1,093 shares during the last quarter. Hedge funds and other 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.