Boston Beer (NYSE:SAM) Hits New 12-Month Low – Time to Sell?

The Boston Beer Company, Inc. (NYSE:SAM) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $222.27 and last traded at $222.46, with a volume of 55508 shares traded. The stock had previously closed at $226.03.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SAM. Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Piper Sandler cut Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $370.00 to $275.00 in a report on Thursday, January 23rd. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Citigroup lowered their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the stock from $355.00 to $325.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and a consensus price target of $302.90.

Boston Beer Trading Up 0.8 %

The company has a market cap of $2.61 billion, a PE ratio of 33.38, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The business has a 50 day simple moving average of $263.99 and a two-hundred day simple moving average of $281.35.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after buying an additional 89 shares during the period. First Horizon Advisors Inc. raised its position in shares of Boston Beer by 105.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after buying an additional 62 shares during the period. GeoWealth Management LLC purchased a new position in shares of Boston Beer in the 4th quarter worth $35,000. Finally, Covestor Ltd raised its position in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after buying an additional 34 shares during the period. 81.13% of the stock is 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.