Morgan Stanley Has Lowered Expectations for Boston Beer (NYSE:SAM) Stock Price

Boston Beer (NYSE:SAM) had its price target dropped by equities researchers at Morgan Stanley from $290.00 to $270.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 8.83% from the stock’s current price.

SAM has been the topic of several other reports. Piper Sandler cut Boston Beer from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $370.00 to $275.00 in a research report on Thursday, January 23rd. UBS Group lowered their price target on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Needham & Company LLC started coverage on Boston Beer in a report on Friday, December 6th. They set a “hold” rating on the stock. StockNews.com raised Boston Beer from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Citigroup lowered their price target on Boston Beer from $335.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $300.90.

Boston Beer Trading Up 5.9 %

SAM stock traded up $13.80 during midday trading on Wednesday, hitting $248.09. The company’s stock had a trading volume of 106,638 shares, compared to its average volume of 192,148. The company has a market cap of $2.85 billion, a PE ratio of 36.48, a P/E/G ratio of 1.23 and a beta of 1.06. Boston Beer has a 12 month low of $222.27 and a 12 month high of $371.65. The firm’s 50-day moving average is $261.05 and its 200-day moving average is $281.06.

Institutional Investors Weigh In On Boston Beer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of Boston Beer by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 703,480 shares of the company’s stock worth $211,030,000 after purchasing an additional 29,412 shares in the last quarter. AQR Capital Management LLC increased its stake in Boston Beer by 19.8% in the 4th quarter. AQR Capital Management LLC now owns 422,217 shares of the company’s stock worth $125,821,000 after buying an additional 69,778 shares in the last quarter. State Street Corp increased its stake in Boston Beer by 7.8% in the 3rd quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after buying an additional 21,276 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Boston Beer by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 225,762 shares of the company’s stock worth $67,723,000 after buying an additional 19,063 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Boston Beer by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock worth $48,122,000 after buying an additional 34,176 shares in the last quarter. 81.13% of the stock is currently owned by hedge funds and other institutional investors.

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.