Boston Beer (NYSE:SAM) Reaches New 12-Month Low at $285.07

Shares of The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $285.07 and last traded at $285.49, with a volume of 32666 shares trading hands. The stock had previously closed at $291.39.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SAM. The Goldman Sachs Group cut their target price on Boston Beer from $257.00 to $250.00 and set a "sell" rating on the stock in a research note on Tuesday. Piper Sandler initiated coverage on Boston Beer in a report on Friday, March 22nd. They set an "overweight" rating and a $350.00 price target on the stock. Morgan Stanley lowered their price target on Boston Beer from $285.00 to $275.00 and set an "underweight" rating on the stock in a report on Wednesday, February 28th. Roth Mkm raised their price target on Boston Beer from $406.00 to $422.00 and gave the company a "buy" rating in a report on Tuesday, January 23rd. Finally, Citigroup lowered their price target on Boston Beer from $370.00 to $350.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $337.36.

Boston Beer Stock Performance

The stock has a 50 day moving average of $319.00 and a two-hundred day moving average of $340.64. The stock has a market cap of $3.43 billion, a PE ratio of 45.92, a PEG ratio of 1.04 and a beta of 1.02.

Boston Beer (NYSE:SAM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($1.27). The company had revenue of $393.72 million during the quarter, compared to analysts' expectations of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The company's revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.93) EPS. Analysts expect that The Boston Beer Company, Inc. will post 9.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boston Beer news, insider Carolyn L. O'boyle sold 101 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Boston Beer news, insider Carolyn L. O'boyle sold 101 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn L. O'boyle sold 102 shares of Boston Beer stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $350.72, for a total value of $35,773.44. Following the sale, the insider now owns 2,630 shares of the company's stock, valued at $922,393.60. The disclosure for this sale can be found here. Corporate insiders own 23.30% of the company's stock.

Institutional Investors Weigh In On Boston Beer

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Boston Beer by 26.5% in the 3rd quarter. Wellington Management Group LLP now owns 66,548 shares of the company's stock worth $25,922,000 after purchasing an additional 13,951 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Boston Beer in the 4th quarter worth approximately $64,490,000. AQR Capital Management LLC lifted its holdings in Boston Beer by 65.9% in the 3rd quarter. AQR Capital Management LLC now owns 115,411 shares of the company's stock worth $44,433,000 after purchasing an additional 45,864 shares during the last quarter. Northern Trust Corp lifted its holdings in Boston Beer by 1.9% in the 3rd quarter. Northern Trust Corp now owns 70,324 shares of the company's stock worth $27,393,000 after purchasing an additional 1,315 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in Boston Beer in the 3rd quarter worth approximately $6,627,000. 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.