Boston Beer (NYSE:SAM) Price Target Lowered to $277.00 at Deutsche Bank Aktiengesellschaft

Boston Beer (NYSE:SAM) had its target price decreased by Deutsche Bank Aktiengesellschaft from $281.00 to $277.00 in a report released on Thursday morning. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada reduced their price target on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research report on Friday, July 26th. Roth Mkm reiterated a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research report on Wednesday. Finally, Piper Sandler reduced their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $319.67.

Boston Beer Stock Down 1.9 %

Shares of NYSE:SAM traded down $5.68 during trading on Thursday, hitting $296.20. The stock had a trading volume of 116,381 shares, compared to its average volume of 158,734. Boston Beer has a 12-month low of $254.40 and a 12-month high of $372.61. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 37.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. The stock has a 50-day simple moving average of $279.44 and a two-hundred day simple moving average of $282.31.

Boston Beer (NYSE:SAM) last announced its quarterly earnings data 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 firm had revenue of $579.10 million during the quarter, compared to analysts’ expectations of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The company’s revenue for the quarter 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. As a group, sell-side analysts forecast that Boston Beer will post 9.63 earnings per share for the current year.

Institutional Trading of Boston Beer

A number of institutional investors have recently made changes to their positions in SAM. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Boston Beer in the second quarter worth approximately $16,014,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Boston Beer by 80.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 114,736 shares of the company’s stock worth $35,000,000 after acquiring an additional 51,003 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after acquiring an additional 37,985 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Boston Beer by 190.6% in the second quarter. Assenagon Asset Management S.A. now owns 46,659 shares of the company’s stock worth $14,233,000 after acquiring an additional 30,601 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Boston Beer by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after acquiring an additional 26,538 shares during 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.