Boston Beer (NYSE:SAM) Given New $245.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has reduced Boston Beer's price target from $270.00 to $245.00, maintaining an "equal weight" rating, which indicates a potential upside of 21.17% from the last close.
• Boston Beer reported a quarterly EPS of $5.45, surpassing estimates by $1.08, although revenue of $587.95 million fell short of expectations.
• Institutional ownership of Boston Beer is significant, with 81.13% of shares held by institutional investors and hedge funds, highlighting strong market confidence.

Boston Beer (NYSE:SAM - Free Report) had its price target cut by Morgan Stanley from $270.00 to $245.00 in a report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued reports about the stock. Citigroup lowered their price objective on shares of Boston Beer from $285.00 to $230.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Needham & Company LLC restated a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $279.00 price objective on shares of Boston Beer in a research note on Tuesday, April 22nd. Wall Street Zen downgraded shares of Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Piper Sandler reduced their target price on shares of Boston Beer from $240.00 to $230.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $258.09.

Boston Beer Stock Performance

Boston Beer stock traded up $1.68 during midday trading on Friday, hitting $209.88. 69,203 shares of the company's stock were exchanged, compared to its average volume of 218,243. The stock has a 50-day moving average price of $208.79 and a two-hundred day moving average price of $229.35. The company has a market cap of $2.34 billion, a P/E ratio of 29.51, a PEG ratio of 1.58 and a beta of 0.99. Boston Beer has a 52-week low of $185.34 and a 52-week high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $4.37 by $1.08. The firm had revenue of $587.95 million during the quarter, compared to analyst estimates of $599.18 million. Boston Beer had a net margin of 3.65% and a return on equity of 15.15%. The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.39 EPS. As a group, sell-side analysts expect that Boston Beer will post 9.29 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

Hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. raised its stake in Boston Beer by 24.4% during the first quarter. First Horizon Advisors Inc. now owns 214 shares of the company's stock worth $51,000 after purchasing an additional 42 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Boston Beer by 10.3% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company's stock worth $153,000 after acquiring an additional 48 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Boston Beer by 4.6% during the 4th quarter. Cetera Investment Advisers now owns 1,269 shares of the company's stock valued at $381,000 after buying an additional 56 shares during the last quarter. US Bancorp DE grew its holdings in Boston Beer by 23.5% during the 1st quarter. US Bancorp DE now owns 336 shares of the company's stock worth $80,000 after acquiring an additional 64 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Boston Beer by 7.3% in the 4th quarter. Bank of Montreal Can now owns 1,001 shares of the company's stock valued at $300,000 after acquiring an additional 68 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

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.