Boston Beer (NYSE:SAM) Hits New 12-Month Low – What’s Next?

The Boston Beer Company, Inc. (NYSE:SAM)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $247.40 and last traded at $247.41, with a volume of 1668 shares traded. The stock had previously closed at $250.19.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SAM. UBS Group reduced their target price on shares of Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Needham & Company LLC started coverage on Boston Beer in a research report on Friday, December 6th. They set a “hold” rating on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $389.00 target price on shares of Boston Beer in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $318.00 target price on shares of Boston Beer in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $302.90.

Boston Beer Stock Down 1.6 %

The stock has a fifty day moving average of $297.14 and a 200-day moving average of $287.83. The firm has a market capitalization of $2.83 billion, a P/E ratio of 36.21, a PEG ratio of 0.80 and a beta of 1.08.

Institutional Trading of Boston Beer

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Boston Beer by 405.6% during the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after purchasing an additional 73 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock worth $35,000 after buying an additional 62 shares during the last quarter. Covestor Ltd lifted its holdings in Boston Beer by 36.6% in the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 34 shares during the period. GAMMA Investing LLC boosted its stake in Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in Boston Beer during the 3rd quarter worth $47,000. 81.13% of the stock is owned by institutional investors.

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.