Boston Beer (NYSE:SAM) Trading Up 8% – Should You Buy?

by · The Markets Daily

The Boston Beer Company, Inc. (NYSE:SAM – Get Free Report) rose 8% on Wednesday . The company traded as high as $229.10 and last traded at $230.41. Approximately 4,023 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 153,127 shares. The stock had previously closed at $213.29.

Analyst Ratings Changes

Several research firms recently issued reports on SAM. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Boston Beer in a research note on Thursday, January 22nd. Citigroup dropped their price target on Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Piper Sandler cut their price objective on shares of Boston Beer from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Finally, UBS Group reduced their target price on Boston Beer from $246.00 to $234.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Boston Beer has a consensus rating of “Reduce” and a consensus price target of $247.28.

Check Out Our Latest Stock Report on SAM

Boston Beer Price Performance

The stock’s 50 day simple moving average is $204.04 and its two-hundred day simple moving average is $210.89. The company has a market capitalization of $2.49 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.55 and a beta of 1.03.

Institutional Trading of Boston Beer

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its holdings in Boston Beer by 340.4% during the 3rd quarter. AQR Capital Management LLC now owns 647,060 shares of the company’s stock worth $136,801,000 after buying an additional 500,120 shares during the period. Gotham Asset Management LLC lifted its position in shares of Boston Beer by 1,752.2% in the third quarter. Gotham Asset Management LLC now owns 213,266 shares of the company’s stock valued at $45,089,000 after buying an additional 201,752 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Boston Beer by 9.4% during the 4th quarter. Vanguard Group Inc. now owns 1,039,184 shares of the company’s stock worth $202,776,000 after buying an additional 89,053 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Boston Beer by 278.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 112,507 shares of the company’s stock valued at $21,467,000 after buying an additional 82,742 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Boston Beer during the 2nd quarter worth approximately $12,795,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

About Boston Beer

(Get Free Report)

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.

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