Boston Beer (NYSE:SAM) Upgraded to “Hold” by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Boston Beer (NYSE:SAM) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat reports. They currently have $273.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley lowered their price objective on Boston Beer from $285.00 to $275.00 and set an underweight rating on the stock in a research report on Wednesday, February 28th. Sanford C. Bernstein raised shares of Boston Beer from an underperform rating to a market perform rating and raised their target price for the stock from $280.00 to $335.00 in a report on Tuesday, January 16th. Piper Sandler started coverage on Boston Beer in a research note on Friday, March 22nd. They issued an overweight rating and a $350.00 price target for the company. The Goldman Sachs Group lowered their price objective on Boston Beer from $257.00 to $250.00 and set a sell rating on the stock in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $337.00 target price on shares of Boston Beer in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Boston Beer has a consensus rating of Hold and a consensus price target of $335.00.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $281.64 on Wednesday. Boston Beer has a 1 year low of $264.63 and a 1 year high of $395.52. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 1.04 and a beta of 1.03. The business has a fifty day simple moving average of $292.22 and a two-hundred day simple moving average of $328.86.

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

Insiders Place Their Bets

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 24.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SAM. Russell Investments Group Ltd. increased its holdings in shares of Boston Beer by 63.1% during the first quarter. Russell Investments Group Ltd. now owns 12,364 shares of the company’s stock valued at $3,764,000 after acquiring an additional 4,782 shares in the last quarter. Qsemble Capital Management LP acquired a new position in Boston Beer during the first quarter worth $329,000. Headlands Technologies LLC bought a new position in shares of Boston Beer in the first quarter valued at $114,000. Semus Wealth Partners LLC grew its holdings in shares of Boston Beer by 31.7% during the first quarter. Semus Wealth Partners LLC now owns 831 shares of the company’s stock valued at $253,000 after buying an additional 200 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Boston Beer by 28.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,155 shares of the company’s stock worth $1,265,000 after acquiring an additional 925 shares in the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

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.