The Boston Beer Company, Inc. (NYSE:SAM) Receives Consensus Recommendation of "Hold" from Brokerages

Shares of The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) have earned an average recommendation of "Hold" from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $276.21.

Several research firms have recently issued reports on SAM. The Goldman Sachs Group lowered their price target 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. Citigroup boosted their target price on shares of Boston Beer from $280.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 14th. Berenberg Bank began coverage on Boston Beer in a report on Wednesday, April 2nd. They issued a "hold" rating and a $281.10 price target for the company. Piper Sandler reduced their price target on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Cfra Research raised Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a report on Thursday, April 24th.

Institutional Investors Weigh In On Boston Beer

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company's stock worth $28,305,000 after buying an additional 4,675 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Boston Beer by 51.8% in the first quarter. Wedge Capital Management L L P NC now owns 8,593 shares of the company's stock worth $2,052,000 after acquiring an additional 2,932 shares in the last quarter. Norges Bank bought a new position in Boston Beer in the fourth quarter valued at $30,741,000. GAMMA Investing LLC raised its position in Boston Beer by 7,861.2% during the first quarter. GAMMA Investing LLC now owns 10,270 shares of the company's stock valued at $2,453,000 after purchasing an additional 10,141 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Boston Beer by 602.4% during the first quarter. Farther Finance Advisors LLC now owns 295 shares of the company's stock valued at $72,000 after purchasing an additional 253 shares in the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Boston Beer Trading Down 0.5%

Shares of NYSE SAM opened at $187.21 on Friday. The stock has a fifty day simple moving average of $228.51 and a two-hundred day simple moving average of $245.49. Boston Beer has a 1-year low of $185.34 and a 1-year high of $329.55. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05.

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

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