Boston Beer (NYSE:SAM) Hits New 12-Month Low on Analyst Downgrade

Shares of The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) reached a new 52-week low during trading on Monday after The Goldman Sachs Group lowered their price target on the stock from $219.00 to $187.00. The Goldman Sachs Group currently has a sell rating on the stock. Boston Beer traded as low as $190.98 and last traded at $192.38, with a volume of 32199 shares traded. The stock had previously closed at $198.17.

SAM has been the subject of several other research reports. Piper Sandler decreased their target price on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Cfra Research upgraded Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Beer in a research report on Friday, April 25th. Morgan Stanley cut their price objective on Boston Beer from $290.00 to $270.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Wall Street Zen upgraded shares of Boston Beer from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Boston Beer presently has a consensus rating of "Hold" and an average price target of $276.21.

Hedge Funds Weigh In On Boston Beer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC increased its position in Boston Beer by 29.1% in the 1st quarter. Voya Investment Management LLC now owns 6,713 shares of the company's stock worth $1,603,000 after purchasing an additional 1,513 shares during the last quarter. Intech Investment Management LLC raised its position in Boston Beer by 300.6% during the first quarter. Intech Investment Management LLC now owns 8,097 shares of the company's stock valued at $1,934,000 after acquiring an additional 6,076 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Boston Beer in the first quarter valued at approximately $104,000. Bayforest Capital Ltd grew its position in Boston Beer by 576.3% in the first quarter. Bayforest Capital Ltd now owns 1,826 shares of the company's stock worth $436,000 after acquiring an additional 1,556 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Boston Beer by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 21,902 shares of the company's stock worth $5,231,000 after acquiring an additional 1,067 shares in the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Trading Down 0.5%

The business's fifty day moving average price is $229.55 and its two-hundred day moving average price is $246.42. The firm has a market cap of $2.09 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.38 and a beta of 1.05.

Boston Beer (NYSE:SAM - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $0.78 by $1.38. The company had revenue of $481.36 million for the quarter, compared to analyst estimates of $436.27 million. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. The business's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. Research analysts predict that The Boston Beer Company, Inc. will post 9.29 EPS for the current fiscal year.

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.