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

The Boston Beer Company, Inc. (NYSE:SAM) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $243.14 and last traded at $243.64, with a volume of 30201 shares. The stock had previously closed at $246.63.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SAM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $318.00 target price on shares of Boston Beer in a report on Friday, October 25th. Roth Mkm reissued a “buy” rating and issued a $389.00 price objective on shares of Boston Beer in a research report on Wednesday, October 23rd. Piper Sandler lowered Boston Beer from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $370.00 to $275.00 in a research report on Thursday, January 23rd. Needham & Company LLC initiated coverage on shares of Boston Beer in a report on Friday, December 6th. They issued a “hold” rating on the stock. Finally, Citigroup decreased their price objective on shares of Boston Beer from $335.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $302.90.

Boston Beer Trading Down 1.4 %

The stock has a market cap of $2.79 billion, a PE ratio of 35.68, a PEG ratio of 0.80 and a beta of 1.06. The firm has a fifty day simple moving average of $287.03 and a two-hundred day simple moving average of $285.76.

Institutional Investors Weigh In On Boston Beer

A number of institutional investors have recently made changes to their positions in SAM. Sei Investments Co. grew its stake in shares of Boston Beer by 64.8% during the second quarter. Sei Investments Co. now owns 4,254 shares of the company’s stock valued at $1,298,000 after buying an additional 1,673 shares during the last quarter. Creative Planning increased its stake in shares of Boston Beer by 7.1% in the second quarter. Creative Planning now owns 2,385 shares of the company’s stock worth $728,000 after buying an additional 158 shares during the period. Sanctuary Advisors LLC bought a new stake in Boston Beer during the 2nd quarter valued at $213,000. SG Americas Securities LLC boosted its position in Boston Beer by 136.7% during the 3rd quarter. SG Americas Securities LLC now owns 2,644 shares of the company’s stock valued at $764,000 after buying an additional 1,527 shares during the period. Finally, CWM LLC grew its holdings in Boston Beer by 726.0% in the 3rd quarter. CWM LLC now owns 5,146 shares of the company’s stock worth $1,488,000 after acquiring an additional 4,523 shares during the last quarter. 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.