Boston Beer (NYSE:SAM) Now Covered by Berenberg Bank

Berenberg Bank initiated coverage on shares of Boston Beer (NYSE:SAM) in a report published on Wednesday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $281.10 price target on the stock.

SAM has been the subject of several other reports. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 price objective (down from $389.00) on shares of Boston Beer in a research note on Wednesday, February 26th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup upgraded shares of Boston Beer from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $280.00 in a research report on Thursday, March 20th. Morgan Stanley lowered their target price on shares of Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, Needham & Company LLC assumed coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $291.37.

Boston Beer Stock Up 1.3 %

Boston Beer stock opened at $246.54 on Wednesday. Boston Beer has a twelve month low of $215.10 and a twelve month high of $339.77. The company’s 50-day moving average price is $237.13 and its 200-day moving average price is $273.66. The company has a market cap of $2.77 billion, a PE ratio of 36.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after buying an additional 73 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Boston Beer by 2,225.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after acquiring an additional 89 shares during the period. GeoWealth Management LLC bought a new position in Boston Beer during the 4th quarter worth about $35,000. GAMMA Investing LLC increased its position in Boston Beer by 59.3% during the 4th quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after purchasing an additional 48 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Boston Beer in the 3rd quarter valued at about $49,000. 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.