Boston Beer (NYSE:SAM) PT Lowered to $250.00 at The Goldman Sachs Group

Boston Beer (NYSE:SAM - Free Report) had its target price trimmed by The Goldman Sachs Group from $257.00 to $250.00 in a report published on Tuesday morning, Benzinga reports. The firm currently has a sell rating on the stock.

Several other analysts have also commented on the stock. Piper Sandler began coverage on shares of Boston Beer in a research report on Friday, March 22nd. They set an overweight rating and a $350.00 price target for the company. Royal Bank of Canada reissued a sector perform rating and set a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Roth Mkm increased their price target on shares of Boston Beer from $406.00 to $422.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. Morgan Stanley decreased their price objective on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a research report on Wednesday, February 28th. Finally, UBS Group decreased their price objective on shares of Boston Beer from $390.00 to $355.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $337.36.

Boston Beer Stock Performance

Boston Beer stock traded down $5.95 during midday trading on Tuesday, hitting $291.05. 161,006 shares of the company's stock were exchanged, compared to its average volume of 140,128. Boston Beer has a 12 month low of $287.33 and a 12 month high of $395.52. The firm has a 50-day moving average of $322.82 and a two-hundred day moving average of $341.96. The company has a market cap of $3.50 billion, a PE ratio of 47.93, a P/E/G ratio of 1.06 and a beta of 1.02.

Boston Beer (NYSE:SAM - Get Free Report) last issued 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). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business had revenue of $393.72 million for the quarter, compared to the consensus estimate of $413.57 million. During the same quarter in the previous year, the company earned ($0.93) earnings per share. The firm's revenue was down 12.0% on a year-over-year basis. As a group, equities analysts expect that Boston Beer will post 9.98 earnings per share for the current year.

Insider Activity at Boston Beer

In related news, insider Carolyn L. O'boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the sale, the insider now owns 7,029 shares of the company's stock, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Beer news, insider Carolyn L. O'boyle sold 102 shares of Boston Beer stock in a transaction 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 sale, the insider now owns 2,630 shares of the company's stock, valued at approximately $922,393.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carolyn L. O'boyle sold 101 shares of Boston Beer stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The disclosure for this sale can be found here. 24.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Beer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Southeastern Asset Management Inc. TN purchased a new position in shares of Boston Beer during the 1st quarter worth $35,680,000. Loomis Sayles & Co. L P purchased a new position in shares of Boston Beer during the 1st quarter worth $38,859,000. Armistice Capital LLC purchased a new position in shares of Boston Beer during the 4th quarter worth $21,499,000. Millennium Management LLC purchased a new position in shares of Boston Beer during the 2nd quarter worth $18,690,000. Finally, Wellington Management Group LLP raised its holdings in shares of Boston Beer by 119.6% during the 1st quarter. Wellington Management Group LLP now owns 92,524 shares of the company's stock worth $35,943,000 after acquiring an additional 50,384 shares during the period. Institutional investors and hedge funds own 81.13% of the company's stock.

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.