Boston Beer (NYSE:SAM) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Boston Beer (NYSE:SAM) from a buy rating to a hold rating in a research note published on Wednesday morning.

A number of other research analysts have also weighed in on SAM. Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $318.00 price objective on shares of Boston Beer in a research note on Friday, October 25th. Jefferies Financial Group cut Boston Beer from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $355.00 to $325.00 in a report on Friday, October 25th. Roth Mkm restated a “buy” rating and issued a $389.00 price target on shares of Boston Beer in a research report on Wednesday, October 23rd. Finally, UBS Group increased their price objective on shares of Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $312.55.

Boston Beer Stock Performance

Shares of NYSE:SAM opened at $256.26 on Wednesday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 37.69, a P/E/G ratio of 0.81 and a beta of 1.08. The firm has a fifty day moving average price of $303.36 and a 200 day moving average price of $289.45. Boston Beer has a fifty-two week low of $253.13 and a fifty-two week high of $371.65.

Institutional Trading of Boston Beer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAM. First Horizon Advisors Inc. grew its stake in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after buying an additional 62 shares during the last quarter. Covestor Ltd boosted its holdings in Boston Beer by 36.6% during the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 34 shares during the period. GAMMA Investing LLC grew its position in Boston Beer by 59.3% in the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. True Wealth Design LLC purchased a new stake in Boston Beer in the third quarter worth $47,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Boston Beer in the third quarter worth $49,000. 81.13% of the stock is owned by hedge funds and other 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.