Boston Beer (NYSE:SAM) Stock Crosses Below 200-Day Moving Average – Should You Sell?

The Boston Beer Company, Inc. (NYSE:SAM) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $199.10 and traded as low as $194.68. Boston Beer shares last traded at $197.55, with a volume of 194,137 shares traded.

Wall Street Analysts Forecast Growth

SAM has been the topic of several research reports. Zacks Research raised shares of Boston Beer from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 22nd. Morgan Stanley reissued an “equal weight” rating on shares of Boston Beer in a research report on Tuesday. The Goldman Sachs Group decreased their price target on shares of Boston Beer from $192.00 to $169.00 and set a “sell” rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group restated a “hold” rating and set a $200.00 price target on shares of Boston Beer in a research note on Friday, October 23rd. Finally, UBS Group lifted their price target on shares of Boston Beer from $190.00 to $204.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $208.82.

Boston Beer Trading Down 1.4%

The stock has a market cap of $2.06 billion, a PE ratio of -28.92 and a beta of 0.82. The business has a 50-day moving average price of $176.60 and a 200 day moving average price of $199.10.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.16. Boston Beer had a positive return on equity of 10.40% and a negative net margin of 3.59%. The company had revenue of $520.10 million during the quarter, compared to analyst estimates of $522.95 million. During the same quarter last year, the firm posted $4.25 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts predict that The Boston Beer Company, Inc. will post 9.18 earnings per share for the current year.

Hedge Funds Weigh In On Boston Beer

Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its position in shares of Boston Beer by 18.0% in the first quarter. PNC Financial Services Group Inc. now owns 439 shares of the company’s stock valued at $101,000 after purchasing an additional 67 shares during the period. Signaturefd LLC lifted its stake in shares of Boston Beer by 42.1% during the 3rd quarter. Signaturefd LLC now owns 253 shares of the company’s stock valued at $41,000 after buying an additional 75 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Boston Beer by 23.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 423 shares of the company’s stock valued at $97,000 after buying an additional 80 shares in the last quarter. Sage Private Wealth Group LLC lifted its stake in shares of Boston Beer by 5.7% during the 3rd quarter. Sage Private Wealth Group LLC now owns 1,680 shares of the company’s stock valued at $276,000 after buying an additional 91 shares in the last quarter. Finally, State of Michigan Retirement System boosted its holdings in Boston Beer by 5.6% in the 1st quarter. State of Michigan Retirement System now owns 1,883 shares of the company’s stock worth $434,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 81.13% of the company’s stock.

About Boston Beer

Boston Beer Company, Inc is an American beverage company that develops, produces, and sells alcoholic beverages. The company is best known for its Samuel Adams craft beer brand, which includes Boston Lager and a range of seasonal, specialty, and limited-release beers.

Its portfolio also includes Twisted Tea hard iced tea, Truly Hard Seltzer, Angry Orchard hard cider, and beverages associated with Dogfish Head, which Boston Beer acquired in 2019. The company offers products across several categories, including beer, flavored malt beverages, hard seltzer, and hard cider, with offerings distributed primarily through wholesalers, retailers, restaurants, and other on-premise establishments.

Founded in 1984 by Jim Koch, Boston Beer helped expand the U.S.