Boston Beer (NYSE:SAM) Reaches New 1-Year Low – Here’s Why

The Boston Beer Company, Inc. (NYSE:SAM)’s stock price hit a new 52-week low on Thursday . The company traded as low as $247.40 and last traded at $247.41, with a volume of 1668 shares changing hands. The stock had previously closed at $250.19.

Analysts Set New Price Targets

A number of analysts recently commented on SAM shares. Needham & Company LLC began coverage on Boston Beer in a research report on Friday, December 6th. They issued a “hold” rating for the company. Citigroup cut their target price on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $318.00 price target on shares of Boston Beer in a report on Friday, October 25th. Roth Mkm restated a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a report on Wednesday, October 23rd. Finally, UBS Group reduced their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $302.90.

Boston Beer Stock Up 1.5 %

The firm has a 50 day moving average of $294.21 and a two-hundred day moving average of $287.22. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 0.79 and a beta of 1.08.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently bought and sold shares of SAM. Covestor Ltd increased its holdings in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC raised its position in shares of Boston Beer by 59.3% during the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after acquiring an additional 48 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after acquiring an additional 62 shares during the period. Exchange Traded Concepts LLC raised its holdings in Boston Beer by 2.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,630 shares of the company’s stock worth $789,000 after purchasing an additional 65 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its position in shares of Boston Beer by 8.5% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock worth $251,000 after purchasing an additional 68 shares during the period. Institutional investors 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.