Citigroup Lowers Boston Beer (NYSE:SAM) Price Target to $315.00

Boston Beer (NYSE:SAM) had its target price lowered by Citigroup from $350.00 to $315.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

SAM has been the subject of a number of other research reports. Piper Sandler initiated coverage on Boston Beer in a report on Friday, March 22nd. They issued an overweight rating and a $350.00 price target for the company. Sanford C. Bernstein upgraded Boston Beer from an underperform rating to a market perform rating and raised their price target for the company from $280.00 to $335.00 in a research note on Tuesday, January 16th. Royal Bank of Canada reiterated a sector perform rating and set a $337.00 target price on shares of Boston Beer in a report on Wednesday, February 28th. Morgan Stanley reduced their price target on shares of Boston Beer from $285.00 to $275.00 and set an underweight rating for the company in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Boston Beer presently has a consensus rating of Hold and an average target price of $334.86.

Boston Beer Stock Up 0.7 %

Shares of Boston Beer stock opened at $286.98 on Tuesday. The stock’s fifty day moving average is $310.43 and its two-hundred day moving average is $336.40. Boston Beer has a 52 week low of $274.78 and a 52 week high of $395.52. The company has a market capitalization of $3.45 billion, a PE ratio of 46.29, a price-to-earnings-growth ratio of 1.14 and a beta of 1.02.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The company had revenue of $393.72 million during the quarter, compared to the consensus estimate of $413.57 million. During the same quarter in the previous year, the company posted ($0.93) earnings per share. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, research analysts anticipate that Boston Beer will post 9.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Beer news, insider Carolyn L. O’boyle sold 102 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $350.72, for a total transaction of $35,773.44. Following the sale, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the completion of the transaction, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The disclosure for this sale can be found here. Corporate insiders own 23.30% of the company’s stock.

Institutional Investors Weigh In On Boston Beer

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Boston Beer by 2.3% in 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 during the last quarter. State Street Corp boosted its holdings in Boston Beer by 0.6% in the second quarter. State Street Corp now owns 261,664 shares of the company’s stock valued at $80,708,000 after purchasing an additional 1,612 shares during the last quarter. Baird Financial Group Inc. grew its position in Boston Beer by 2.0% during the 4th quarter. Baird Financial Group Inc. now owns 169,185 shares of the company’s stock worth $58,469,000 after purchasing an additional 3,320 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Boston Beer by 5.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 142,014 shares of the company’s stock valued at $49,080,000 after buying an additional 7,615 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Boston Beer by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 137,739 shares of the company’s stock valued at $42,484,000 after buying an additional 6,897 shares during the period. Hedge funds and other institutional investors 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.