Boston Beer (NYSE:SAM) Reaches New 1-Year Low at $272.55

The Boston Beer Company, Inc. (NYSE:SAM) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $272.55 and last traded at $272.88, with a volume of 59483 shares trading hands. The stock had previously closed at $277.28.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SAM shares. Morgan Stanley decreased their target price on Boston Beer from $285.00 to $275.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 28th. Sanford C. Bernstein upgraded shares of Boston Beer from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $280.00 to $335.00 in a report on Tuesday, January 16th. Evercore ISI raised their price objective on Boston Beer from $310.00 to $325.00 and gave the company an “in-line” rating in a research report on Friday, April 26th. Roth Mkm boosted their target price on Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Piper Sandler began coverage on Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $335.21.

Boston Beer Stock Down 3.4 %

The company has a market capitalization of $3.20 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 1.04 and a beta of 1.03. The firm’s 50 day simple moving average is $296.61 and its 200 day simple moving average is $330.59.

Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The business had revenue of $426.05 million during the quarter, compared to analyst estimates of $414.18 million. As a group, sell-side analysts predict that The Boston Beer Company, Inc. will post 10.26 EPS for the current fiscal year.

Insider Activity

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now directly 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. Insiders own 24.00% of the company’s stock.

Hedge Funds Weigh In On Boston Beer

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new position in Boston Beer during the 3rd quarter valued at about $348,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Boston Beer by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,518 shares of the company’s stock worth $591,000 after buying an additional 196 shares in the last quarter. Simmons Bank lifted its holdings in Boston Beer by 1.3% during the third quarter. Simmons Bank now owns 6,882 shares of the company’s stock worth $2,681,000 after buying an additional 91 shares during the period. Assetmark Inc. boosted its position in Boston Beer by 13.9% during the 3rd quarter. Assetmark Inc. now owns 2,554 shares of the company’s stock valued at $995,000 after acquiring an additional 311 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Boston Beer by 16.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 1,188 shares of the company’s stock valued at $463,000 after acquiring an additional 171 shares in the last quarter. 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.