Boston Beer (NYSE:SAM) Trading Up 3% – What’s Next?

The Boston Beer Company, Inc. (NYSE:SAM)’s stock price rose 3% during mid-day trading on Friday . The company traded as high as $249.59 and last traded at $250.69. Approximately 84,030 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 212,626 shares. The stock had previously closed at $243.29.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SAM. Roth Mkm reiterated a “buy” rating and set a $349.00 price target (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Piper Sandler reduced their price target on Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Berenberg Bank assumed coverage on Boston Beer in a research note on Wednesday. They issued a “hold” rating and a $281.10 target price for the company. UBS Group dropped their price objective on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Morgan Stanley decreased their target price on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $291.37.

Boston Beer Trading Up 0.4 %

The stock’s 50-day moving average price is $237.13 and its 200-day moving average price is $273.46. The company has a market capitalization of $2.75 billion, a P/E ratio of 35.91, a P/E/G ratio of 1.23 and a beta of 1.14.

Institutional Trading of Boston Beer

Several hedge funds have recently made changes to their positions in SAM. Blue Trust Inc. increased its position in Boston Beer by 405.6% in the fourth 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 grew its position in shares of Boston Beer by 2,225.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. GeoWealth Management LLC acquired a new stake in shares of Boston Beer in the 4th quarter worth about $35,000. GAMMA Investing LLC lifted its position in Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Boston Beer in the 3rd quarter valued at about $49,000. Institutional investors own 81.13% of the company’s stock.

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.