Boston Beer (NYSE:SAM) Price Target Raised to $279.00 at UBS Group

Boston Beer (NYSE:SAM) had its target price increased by UBS Group from $265.00 to $279.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

SAM has been the subject of several other reports. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Berenberg Bank began coverage on Boston Beer in a research report on Wednesday, April 2nd. They set a “hold” rating and a $281.10 price objective for the company. Citigroup raised their price objective on Boston Beer from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley lowered their target price on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reduced their price target on shares of Boston Beer from $240.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $293.91.

Boston Beer Trading Up 0.2 %

Shares of NYSE:SAM opened at $238.98 on Thursday. The firm has a 50 day moving average of $235.32 and a 200-day moving average of $270.41. Boston Beer has a 12 month low of $215.10 and a 12 month high of $339.77. The stock has a market capitalization of $2.69 billion, a PE ratio of 35.14, a PEG ratio of 1.23 and a beta of 1.26.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors have recently added to or reduced their stakes in SAM. Norges Bank bought a new position in shares of Boston Beer during the fourth quarter valued at $30,741,000. J. Goldman & Co LP increased its holdings in Boston Beer by 251.8% in the fourth quarter. J. Goldman & Co LP now owns 119,687 shares of the company’s stock valued at $35,904,000 after purchasing an additional 85,669 shares during the period. Cooper Creek Partners Management LLC bought a new position in Boston Beer during the 4th quarter worth $25,054,000. Global Alpha Capital Management Ltd. acquired a new position in Boston Beer during the 4th quarter worth about $23,349,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Boston Beer in the 4th quarter valued at about $21,412,000. 81.13% of the stock is owned by 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.