Boston Beer (NYSE:SAM) Given New $220.00 Price Target at Citigroup

Boston Beer (NYSE:SAM) had its price objective reduced by equities research analysts at Citigroup from $250.00 to $220.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 11.40% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Boston Beer in a research report on Wednesday, October 8th. Piper Sandler decreased their target price on shares of Boston Beer from $230.00 to $220.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. UBS Group upped their price target on Boston Beer from $230.00 to $246.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Jefferies Financial Group cut their price target on Boston Beer from $230.00 to $225.00 and set a “hold” rating for the company in a report on Tuesday, September 30th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $248.37.

Boston Beer Stock Down 1.9%

Shares of SAM traded down $3.91 during mid-day trading on Wednesday, reaching $197.49. The company had a trading volume of 133,153 shares, compared to its average volume of 215,383. The stock has a market capitalization of $2.10 billion, a P/E ratio of 23.29, a PEG ratio of 1.73 and a beta of 1.06. Boston Beer has a 52-week low of $185.34 and a 52-week high of $310.53. The stock has a 50 day moving average of $206.09 and a two-hundred day moving average of $209.94.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.47. The company had revenue of $537.49 million during 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%.Boston Beer’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.86 earnings per share. 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 earnings per share for the current year.

Insider Transactions at Boston Beer

In other Boston Beer news, Director Michael Spillane sold 3,120 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $205.78, for a total value of $642,033.60. Following the transaction, the director owned 10,877 shares of the company’s stock, valued at $2,238,269.06. This represents a 22.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 26.10% of the company’s stock.

Hedge Funds Weigh In On Boston Beer

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in shares of Boston Beer by 340.4% during the third quarter. AQR Capital Management LLC now owns 647,060 shares of the company’s stock worth $136,801,000 after purchasing an additional 500,120 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in Boston Beer by 1,752.2% during the 3rd quarter. Gotham Asset Management LLC now owns 213,266 shares of the company’s stock worth $45,089,000 after buying an additional 201,752 shares in the last quarter. Millennium Management LLC boosted its position in Boston Beer by 97.3% in the 1st quarter. Millennium Management LLC now owns 185,898 shares of the company’s stock valued at $44,400,000 after buying an additional 91,667 shares during the period. Armistice Capital LLC increased its position in shares of Boston Beer by 72.7% during the first quarter. Armistice Capital LLC now owns 210,553 shares of the company’s stock worth $50,288,000 after acquiring an additional 88,624 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in Boston Beer by 278.0% in the second quarter. Qube Research & Technologies Ltd now owns 112,507 shares of the company’s stock valued at $21,467,000 after purchasing an additional 82,742 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.