The Goldman Sachs Group Cuts Boston Beer (NYSE:SAM) Price Target to $187.00

Boston Beer (NYSE:SAM - Free Report) had its price objective trimmed by The Goldman Sachs Group from $219.00 to $187.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a sell rating on the stock.

A number of other equities analysts have also weighed in on the company. Citigroup upped their price objective on Boston Beer from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Cfra Research raised Boston Beer from a "moderate sell" rating to a "moderate buy" rating in a research note on Thursday, April 24th. Wall Street Zen raised Boston Beer from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Roth Mkm reaffirmed a "buy" rating and issued a $349.00 price objective (down previously from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. Finally, UBS Group upped their price objective on Boston Beer from $265.00 to $279.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $276.21.

Boston Beer Stock Down 0.5%

SAM traded down $1.00 during midday trading on Monday, reaching $187.21. The company had a trading volume of 304,166 shares, compared to its average volume of 161,627. The business has a 50-day moving average of $228.51 and a two-hundred day moving average of $245.49. The company has a market cap of $2.09 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.38 and a beta of 1.05. Boston Beer has a 1 year low of $185.62 and a 1 year high of $329.55.

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

Hedge Funds Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Boston Beer by 2,225.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company's stock valued at $28,000 after purchasing an additional 89 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Boston Beer in the 1st quarter valued at approximately $25,000. GeoWealth Management LLC bought a new stake in shares of Boston Beer in the 4th quarter valued at approximately $35,000. Elequin Capital LP bought a new stake in shares of Boston Beer in the 1st quarter valued at approximately $30,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Boston Beer by 42.1% in the 4th quarter. First Horizon Advisors Inc. now owns 172 shares of the company's stock valued at $52,000 after purchasing an additional 51 shares during the last quarter. 81.13% of the stock is owned by institutional investors.

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.