Brokerages Set The Boston Beer Company, Inc. (NYSE:SAM) PT at $344.08

Shares of The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) have received an average recommendation of "Hold" from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $344.08.

SAM has been the topic of several recent research reports. Roth Mkm increased their target price on Boston Beer from $406.00 to $422.00 and gave the stock a "buy" rating in a research report on Tuesday, January 23rd. Citigroup dropped their target price on Boston Beer from $370.00 to $350.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Piper Sandler initiated coverage on Boston Beer in a research report on Friday, March 22nd. They set an "overweight" rating and a $350.00 target price on the stock. UBS Group dropped their target price on Boston Beer from $390.00 to $355.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Finally, Sanford C. Bernstein upgraded Boston Beer from an "underperform" rating to a "market perform" rating and increased their target price for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th.

Insiders Place Their Bets

In other news, insider Carolyn L. O'boyle sold 101 shares of Boston Beer stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Carolyn L. O'boyle sold 101 shares of Boston Beer stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn L. O'boyle sold 102 shares of Boston Beer stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, 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. 23.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in SAM. Southeastern Asset Management Inc. TN bought a new stake in shares of Boston Beer during the first quarter valued at approximately $35,680,000. Loomis Sayles & Co. L P bought a new stake in shares of Boston Beer during the first quarter valued at approximately $38,859,000. Armistice Capital LLC bought a new stake in shares of Boston Beer during the fourth quarter valued at approximately $21,499,000. Millennium Management LLC bought a new stake in shares of Boston Beer during the second quarter valued at approximately $18,690,000. Finally, Wellington Management Group LLP increased its position in shares of Boston Beer by 119.6% during the first quarter. Wellington Management Group LLP now owns 92,524 shares of the company's stock valued at $35,943,000 after acquiring an additional 50,384 shares in the last quarter. Institutional investors own 81.13% of the company's stock.

Boston Beer Trading Down 1.1 %

Shares of SAM stock traded down $3.20 during trading on Wednesday, hitting $296.80. The company's stock had a trading volume of 105,318 shares, compared to its average volume of 142,126. The company has a market cap of $3.57 billion, a PE ratio of 48.36, a P/E/G ratio of 1.08 and a beta of 1.02. The business has a fifty day moving average of $327.84 and a 200-day moving average of $344.10. Boston Beer has a 52 week low of $287.33 and a 52 week high of $395.52.

Boston Beer (NYSE:SAM - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.27). The business had revenue of $393.72 million during the quarter, compared to the consensus estimate of $413.57 million. Boston Beer had a net margin of 3.61% and a return on equity of 8.13%. The business's revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.93) earnings per share. As a group, research analysts predict that Boston Beer will post 9.98 EPS for the current year.

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.