Boston Beer (NYSE:SAM) Upgraded at Citigroup

Citigroup upgraded shares of Boston Beer (NYSE:SAM) from a neutral rating to a buy rating in a report released on Thursday morning, MarketBeat reports. They currently have $280.00 target price on the stock, up from their previous target price of $265.00.

Several other research analysts have also recently commented on the company. StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. UBS Group lowered their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Roth Mkm reaffirmed a “buy” rating and issued a $349.00 target price (down previously from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. Needham & Company LLC started coverage on shares of Boston Beer in a report on Friday, December 6th. They set a “hold” rating for the company. Finally, Piper Sandler reduced their price objective on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $292.40.

Boston Beer Stock Up 3.8 %

Shares of SAM stock opened at $227.58 on Thursday. The firm has a 50 day moving average of $240.10 and a two-hundred day moving average of $275.95. The stock has a market capitalization of $2.56 billion, a PE ratio of 33.47, a P/E/G ratio of 1.23 and a beta of 1.14. Boston Beer has a 52 week low of $215.10 and a 52 week high of $339.77.

Hedge Funds Weigh In On Boston Beer

Several large investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of Boston Beer by 405.6% in the 4th quarter. Blue Trust Inc. now owns 91 shares of the company’s stock valued at $26,000 after purchasing an additional 73 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Boston Beer by 2,225.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after buying an additional 89 shares during the period. First Horizon Advisors Inc. lifted its stake in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after buying an additional 62 shares during the last quarter. GeoWealth Management LLC acquired a new stake in shares of Boston Beer in the fourth quarter valued at approximately $35,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Boston Beer by 59.3% in the fourth quarter. GAMMA Investing LLC now owns 129 shares of the company’s stock valued at $39,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.

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.