Boston Beer (NYSE:SAM) PT Lowered to $318.00 at Royal Bank of Canada

Boston Beer (NYSE:SAM) had its price objective reduced by Royal Bank of Canada from $332.00 to $318.00 in a report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

SAM has been the subject of several other research reports. Morgan Stanley upgraded shares of Boston Beer from an underweight rating to an equal weight rating and set a $290.00 price objective for the company in a research report on Wednesday, June 5th. Piper Sandler dropped their price target on Boston Beer from $344.00 to $325.00 and set an overweight rating for the company in a research report on Friday. Evercore ISI boosted their price objective on Boston Beer from $310.00 to $325.00 and gave the stock an in-line rating in a research note on Friday, April 26th. Citigroup lowered their price objective on Boston Beer from $350.00 to $315.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group raised Boston Beer from a hold rating to a buy rating and boosted their target price for the company from $335.00 to $360.00 in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $328.69.

Boston Beer Stock Down 2.3 %

Shares of Boston Beer stock opened at $284.09 on Friday. Boston Beer has a 52 week low of $254.40 and a 52 week high of $395.52. The stock’s 50-day simple moving average is $286.90 and its 200-day simple moving average is $304.74. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 1.17 and a beta of 1.03.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 25th. The company reported $4.39 EPS for the quarter, missing the consensus estimate of $4.99 by ($0.60). The company had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.72 EPS. On average, equities analysts expect that Boston Beer will post 9.78 earnings per share for the current year.

Institutional Trading of Boston Beer

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Boston Beer in the fourth quarter worth about $419,000. Raymond James & Associates lifted its holdings in Boston Beer by 12.4% during the 4th quarter. Raymond James & Associates now owns 1,126 shares of the company’s stock valued at $389,000 after buying an additional 124 shares in the last quarter. Pacer Advisors Inc. boosted its position in Boston Beer by 29.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,412 shares of the company’s stock valued at $488,000 after buying an additional 319 shares during the period. Oak Thistle LLC bought a new position in Boston Beer in the 4th quarter worth about $1,575,000. Finally, Camelot Portfolios LLC increased its position in shares of Boston Beer by 69.0% during the fourth quarter. Camelot Portfolios LLC now owns 980 shares of the company’s stock worth $339,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 81.13% of the company’s stock.

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.