Boston Beer (NYSE:SAM) PT Lowered to $315.00 at Citigroup

Boston Beer (NYSE:SAM) had its price target trimmed by Citigroup from $350.00 to $315.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages also recently issued reports on SAM. Piper Sandler assumed coverage on Boston Beer in a research report on Friday, March 22nd. They set an overweight rating and a $350.00 price objective for the company. Roth Mkm boosted their price objective on Boston Beer from $406.00 to $422.00 and gave the stock a buy rating in a research report on Tuesday, January 23rd. Morgan Stanley reduced their price objective on Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a research report on Wednesday, February 28th. Sanford C. Bernstein upgraded Boston Beer from an underperform rating to a market perform rating and upped their target price for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group cut their target price on Boston Beer from $257.00 to $250.00 and set a sell rating for the company in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $334.86.

Boston Beer Trading Up 1.7 %

NYSE:SAM opened at $284.87 on Tuesday. The firm has a market capitalization of $3.42 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.02. The stock has a 50 day moving average of $311.70 and a 200-day moving average of $337.14. Boston Beer has a 52 week low of $274.78 and a 52 week high of $395.52.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.27). The business had revenue of $393.72 million for the quarter, compared to analyst estimates of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.93) earnings per share. As a group, analysts predict that Boston Beer will post 9.98 EPS for the current fiscal year.

Insider Activity

In other news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now directly owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The disclosure for this sale can be found here. Insiders own 23.30% of the company’s stock.

Institutional Trading of Boston Beer

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Boston Beer by 88.4% during the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Boston Beer during the 2nd quarter valued at $32,000. Main Street Group LTD acquired a new position in shares of Boston Beer in the fourth quarter worth $35,000. Quarry LP acquired a new position in shares of Boston Beer in the fourth quarter worth $42,000. Finally, KBC Group NV acquired a new position in shares of Boston Beer in the fourth quarter worth $46,000. 81.13% of the stock is 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.