Boston Beer (NYSE:SAM) Price Target Lowered to $315.00 at Citigroup

Boston Beer (NYSE:SAM) had its price target reduced by Citigroup from $350.00 to $315.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 12.10% from the company’s current price.

Other analysts have also recently issued reports about the stock. Morgan Stanley reduced their target price on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Roth Mkm lifted their price target on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group dropped their price target on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research report on Tuesday, April 9th. UBS Group dropped their price target on shares of Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Finally, Piper Sandler started coverage on shares of Boston Beer in a research report on Friday, March 22nd. They issued an “overweight” rating and a $350.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $334.86.

Boston Beer Price Performance

Shares of SAM opened at $281.01 on Tuesday. The firm’s 50 day moving average is $316.06 and its 200-day moving average is $338.72. The stock has a market capitalization of $3.38 billion, a P/E ratio of 45.32, a P/E/G ratio of 1.03 and a beta of 1.02. Boston Beer has a 12-month low of $280.77 and a 12-month high of $395.52.

Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) EPS for the quarter, missing the consensus estimate of ($0.22) by ($1.27). The company had revenue of $393.72 million for the quarter, compared to analyst estimates of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.93) earnings per share. As a group, equities research analysts forecast that Boston Beer will post 9.98 EPS for the current fiscal year.

Insider Activity

In related news, insider Carolyn L. O’boyle sold 102 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carolyn L. O’boyle sold 102 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $350.72, for a total transaction of $35,773.44. Following the transaction, the insider now owns 2,630 shares in the company, valued at $922,393.60. The disclosure for this sale can be found here. 24.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd increased its stake in shares of Boston Beer by 88.4% in the 3rd quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after acquiring an additional 38 shares during the last quarter. Main Street Group LTD bought a new stake in shares of Boston Beer in the 4th quarter valued at about $35,000. Eagle Bay Advisors LLC bought a new stake in shares of Boston Beer in the 2nd quarter valued at about $32,000. Quarry LP bought a new stake in shares of Boston Beer in the 4th quarter valued at about $42,000. Finally, KBC Group NV bought a new stake in shares of Boston Beer in the 4th quarter valued at about $46,000. 81.13% of the stock is currently 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.