UBS Group Raises Boston Beer (NYSE:SAM) Price Target to $309.00

Boston Beer (NYSE:SAM) had its target price raised by UBS Group from $300.00 to $309.00 in a report issued on Thursday morning.

A number of other equities analysts also recently issued reports on SAM. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Boston Beer from $281.00 to $277.00 and set a “hold” rating on the stock in a research note on Thursday. Royal Bank of Canada cut their price target on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. Finally, Piper Sandler dropped their target price on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Boston Beer has a consensus rating of “Hold” and an average price target of $314.82.

Boston Beer Stock Performance

Shares of Boston Beer stock opened at $295.96 on Thursday. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The company has a fifty day moving average of $279.71 and a 200-day moving average of $282.24. Boston Beer has a 52-week low of $254.40 and a 52-week high of $372.61.

Boston Beer (NYSE:SAM) last issued its quarterly 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 return on equity of 9.69% and a net margin of 4.39%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.72 earnings per share. On average, equities research analysts forecast that Boston Beer will post 9.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after acquiring an additional 21,060 shares in the last quarter. Foguth Wealth Management LLC. purchased a new position in Boston Beer in the first quarter valued at about $243,000. Principal Financial Group Inc. lifted its position in shares of Boston Beer by 1.8% in the first quarter. Principal Financial Group Inc. now owns 35,580 shares of the company’s stock worth $10,831,000 after buying an additional 645 shares during the last quarter. Summit Place Financial Advisors LLC lifted its position in shares of Boston Beer by 74.0% in the first quarter. Summit Place Financial Advisors LLC now owns 2,751 shares of the company’s stock worth $837,000 after buying an additional 1,170 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Boston Beer by 58.0% in the first quarter. Van ECK Associates Corp now owns 12,901 shares of the company’s stock worth $3,927,000 after buying an additional 4,735 shares during the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.