Boston Beer (NYSE:SAM) Hits New 1-Year Low – What’s Next?

The Boston Beer Company, Inc. (NYSE:SAM) hit a new 52-week low on Monday . The company traded as low as $253.13 and last traded at $256.52, with a volume of 6533 shares trading hands. The stock had previously closed at $256.05.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC started coverage on shares of Boston Beer in a research note on Friday, December 6th. They set a “hold” rating for the company. Piper Sandler lifted their price objective on shares of Boston Beer from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Jefferies Financial Group downgraded shares of Boston Beer from a “buy” rating to a “hold” rating and decreased their target price for the stock from $355.00 to $325.00 in a research note on Friday, October 25th. Finally, UBS Group boosted their price target on Boston Beer from $300.00 to $309.00 in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Boston Beer currently has a consensus rating of “Hold” and an average target price of $314.82.

Boston Beer Trading Down 1.2 %

The stock has a fifty day simple moving average of $305.07 and a two-hundred day simple moving average of $290.00. The company has a market cap of $2.97 billion, a PE ratio of 38.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08.

Institutional Trading of Boston Beer

A number of institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. lifted its holdings in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after acquiring an additional 62 shares during the period. Covestor Ltd increased its holdings in shares of Boston Beer by 36.6% in the 3rd quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Boston Beer by 59.3% in the fourth 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. True Wealth Design LLC purchased a new stake in Boston Beer during the third quarter worth about $47,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Boston Beer during the third quarter worth about $49,000. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

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.