Boston Beer (NYSE:SAM) Upgraded at Credit Suisse Group

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Credit Suisse Group upgraded shares of Boston Beer (NYSE:SAM) from a neutral rating to an outperform rating in a research report released on Tuesday, Benzinga reports. They currently have $525.00 target price on the stock, up from their prior target price of $400.00.

A number of other analysts have also issued reports on the stock. Macquarie set a $460.00 price target on shares of Boston Beer and gave the stock a buy rating in a research note on Tuesday, October 15th. Jefferies Financial Group cut their price target on shares of Boston Beer from $332.00 to $319.00 and set an underperform rating on the stock in a research note on Wednesday, October 30th. They noted that the move was a valuation call. ValuEngine lowered shares of Boston Beer from a sell rating to a strong sell rating in a research note on Tuesday, February 4th. BMO Capital Markets boosted their price target on shares of Boston Beer to $425.00 and gave the stock an outperform rating in a research note on Wednesday, October 30th. They noted that the move was a valuation call. Finally, Cowen upgraded shares of Boston Beer from a market perform rating to an outperform rating and boosted their price target for the stock from $386.00 to $450.00 in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Boston Beer currently has a consensus rating of Hold and an average target price of $409.45.

Shares of SAM opened at $408.91 on Tuesday. The firm has a market cap of $4.50 billion, a P/E ratio of 41.35, a price-to-earnings-growth ratio of 3.28 and a beta of 0.67. Boston Beer has a 12-month low of $258.34 and a 12-month high of $444.64. The company’s 50-day moving average price is $376.67 and its 200 day moving average price is $383.48.

In related news, Chairman C James Koch sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $371.32, for a total transaction of $3,713,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Tara L. Heath sold 275 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $400.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders have sold 72,436 shares of company stock worth $27,215,853 over the last quarter. Insiders own 28.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SAM. Point72 Asset Management L.P. acquired a new position in Boston Beer in the fourth quarter valued at approximately $25,636,000. Orion Portfolio Solutions LLC acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $27,000. Jane Street Group LLC boosted its holdings in shares of Boston Beer by 210.1% in the fourth quarter. Jane Street Group LLC now owns 1,585 shares of the company’s stock valued at $599,000 after acquiring an additional 3,025 shares during the period. Ellington Management Group LLC acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $605,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Boston Beer by 4.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 9,112 shares of the company’s stock valued at $3,443,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 73.33% 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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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