Boston Beer (NYSE:SAM) Given New $230.00 Price Target at Sanford C. Bernstein

Boston Beer (NYSE:SAM - Free Report) had its price objective decreased by Sanford C. Bernstein from $270.00 to $230.00 in a research note published on Wednesday morning,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

A number of other analysts have also issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of Boston Beer from $219.00 to $187.00 and set a "sell" rating on the stock in a research report on Monday, June 23rd. Needham & Company LLC reissued a "hold" rating on shares of Boston Beer in a research note on Friday, April 25th. Berenberg Bank initiated coverage on Boston Beer in a research report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price objective for the company. Cfra Research raised shares of Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $279.00 target price on shares of Boston Beer in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $272.01.

Boston Beer Price Performance

NYSE:SAM traded down $3.30 during trading hours on Wednesday, reaching $194.37. 271,875 shares of the company traded hands, compared to its average volume of 169,780. The firm's 50-day moving average is $219.39 and its 200-day moving average is $237.79. The stock has a market cap of $2.17 billion, a P/E ratio of 32.23, a P/E/G ratio of 1.42 and a beta of 0.99. Boston Beer has a 1-year low of $185.34 and a 1-year high of $329.55.

Boston Beer (NYSE:SAM - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $1.38. Boston Beer had a return on equity of 13.81% and a net margin of 3.30%. The firm had revenue of $481.36 million during the quarter, compared to analysts' expectations of $436.27 million. During the same quarter last year, the business posted $1.04 EPS. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Boston Beer will post 9.29 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Boston Beer in the first quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock worth $28,000 after purchasing an additional 89 shares during the last quarter. Elequin Capital LP bought a new stake in Boston Beer during the first quarter worth approximately $30,000. GeoWealth Management LLC acquired a new position in Boston Beer during the fourth quarter valued at approximately $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Boston Beer in the first quarter valued at approximately $44,000. 81.13% of the stock is owned by hedge funds and other institutional investors.

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.