UBS Group Raises Boston Beer (NYSE:SAM) Price Target to $309.00

Boston Beer (NYSE:SAM) had its price target increased by UBS Group from $300.00 to $309.00 in a report published on Thursday.

Other analysts have also issued research reports about the company. Royal Bank of Canada dropped their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Roth Mkm reissued a “buy” rating and set a $389.00 price objective on shares of Boston Beer in a research report on Wednesday. Piper Sandler lowered their price objective on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $319.67.

Boston Beer Stock Performance

SAM stock traded down $5.68 on Thursday, reaching $296.20. The company’s stock had a trading volume of 116,381 shares, compared to its average volume of 158,734. The business has a fifty day simple moving average of $279.44 and a two-hundred day simple moving average of $282.31. Boston Beer has a 12-month low of $254.40 and a 12-month high of $372.61. The firm has a market cap of $3.47 billion, a PE ratio of 37.39, a PEG ratio of 1.23 and a beta of 1.06.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The business had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. During the same period in the previous year, the business earned $4.72 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Boston Beer will post 9.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boston Beer

Several institutional investors and hedge funds have recently modified their holdings of SAM. LRI Investments LLC purchased a new position in Boston Beer in the 1st quarter worth about $28,000. ORG Partners LLC purchased a new position in Boston Beer in the 2nd quarter worth about $48,000. Sachetta LLC raised its position in Boston Beer by 1,533.3% in the 2nd quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after buying an additional 230 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Boston Beer by 61.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after buying an additional 95 shares during the last quarter. Finally, Quarry LP raised its position in Boston Beer by 984.0% in the 2nd quarter. Quarry LP now owns 271 shares of the company’s stock worth $83,000 after buying an additional 246 shares during the last quarter. 81.13% of the stock is currently 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.