Boston Beer (NYSE:SAM) Hits New 1-Year Low – Here’s What Happened

Shares of The Boston Beer Company, Inc. (NYSE:SAM) hit a new 52-week low on Thursday . The company traded as low as $222.27 and last traded at $222.46, with a volume of 55508 shares trading hands. The stock had previously closed at $226.03.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SAM. UBS Group dropped their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Piper Sandler cut Boston Beer from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $370.00 to $275.00 in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Boston Beer from $281.00 to $277.00 and set a “hold” rating for the company in a report on Thursday, October 24th. StockNews.com downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $389.00 price target on shares of Boston Beer in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $302.90.

Boston Beer Stock Performance

The firm has a market capitalization of $2.59 billion, a P/E ratio of 33.13, a P/E/G ratio of 1.24 and a beta of 1.06. The stock has a 50 day moving average of $267.64 and a two-hundred day moving average of $282.03.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SAM. Blue Trust Inc. increased its position in Boston Beer by 405.6% during the fourth quarter. Blue Trust Inc. now owns 91 shares of the company’s stock worth $26,000 after acquiring an additional 73 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Boston Beer by 2,225.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 93 shares of the company’s stock worth $28,000 after purchasing an additional 89 shares during the period. First Horizon Advisors Inc. increased its stake in Boston Beer by 105.1% during the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after acquiring an additional 62 shares during the period. GeoWealth Management LLC bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $35,000. Finally, Covestor Ltd increased its position in shares of Boston Beer by 36.6% during the third quarter. Covestor Ltd now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 34 shares during the period. 81.13% of the stock is owned by 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.