Boston Beer (NYSE:SAM) Hits New 12-Month Low – Time to Sell?

The Boston Beer Company, Inc. (NYSE:SAM) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $222.27 and last traded at $222.46, with a volume of 55508 shares changing hands. The stock had previously closed at $226.03.

Wall Street Analyst Weigh In

SAM has been the subject of several recent research reports. Piper Sandler downgraded Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $370.00 to $275.00 in a report on Thursday, January 23rd. Citigroup lowered their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Jefferies Financial Group downgraded Boston Beer from a “buy” rating to a “hold” rating and lowered their price target for the company from $355.00 to $325.00 in a report on Friday, October 25th. UBS Group lowered their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Needham & Company LLC initiated coverage on Boston Beer in a report on Friday, December 6th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus target price of $302.90.

Boston Beer Stock Up 0.8 %

The firm has a 50 day moving average price of $263.99 and a two-hundred day moving average price of $281.35. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 1.23 and a beta of 1.06.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its stake in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC grew its stake in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock worth $39,000 after purchasing an additional 48 shares in the last quarter. Lazard Asset Management LLC grew its stake in Boston Beer by 10.3% in the fourth quarter. Lazard Asset Management LLC now owns 515 shares of the company’s stock worth $153,000 after purchasing an additional 48 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Boston Beer by 42.1% in the fourth quarter. First Horizon Advisors Inc. now owns 172 shares of the company’s stock worth $52,000 after purchasing an additional 51 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Boston Beer by 4.6% in the fourth quarter. Cetera Investment Advisers now owns 1,269 shares of the company’s stock worth $381,000 after purchasing an additional 56 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.