Boston Beer (NYSE:SAM) PT Lowered to $277.00 at Deutsche Bank Aktiengesellschaft

Boston Beer (NYSE:SAM) had its price objective cut by Deutsche Bank Aktiengesellschaft from $281.00 to $277.00 in a report released on Thursday. They currently have a hold rating on the stock.

A number of other research analysts have also recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research note on Wednesday. Royal Bank of Canada cut their target price on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a research note on Friday, July 26th. Finally, Piper Sandler lowered their price objective on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Boston Beer presently has an average rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Performance

SAM stock opened at $295.96 on Thursday. The stock’s 50 day simple moving average is $279.71 and its 200 day simple moving average is $282.24. Boston Beer has a fifty-two week low of $254.40 and a fifty-two week high of $372.61. The company has a market cap of $3.54 billion, a P/E ratio of 37.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06.

Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.60). The business had revenue of $579.10 million during the quarter, compared to the consensus estimate of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $4.72 earnings per share. Equities analysts predict that Boston Beer will post 9.63 earnings per share for the current year.

Institutional Investors Weigh In On Boston Beer

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Boston Beer by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after buying an additional 21,060 shares during the period. Dimensional Fund Advisors LP lifted its position in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock valued at $55,814,000 after purchasing an additional 26,538 shares during the period. Bank of New York Mellon Corp lifted its position in Boston Beer by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after purchasing an additional 9,997 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Boston Beer by 80.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock valued at $35,000,000 after purchasing an additional 51,003 shares during the period. Finally, Armistice Capital LLC lifted its position in Boston Beer by 1.1% during the second quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock valued at $29,679,000 after purchasing an additional 1,093 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

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.