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

Boston Beer (NYSE:SAM) had its target price lowered by analysts at Morgan Stanley from $290.00 to $270.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 8.83% from the company’s previous close.

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

Boston Beer Price Performance

NYSE:SAM traded up $13.80 during mid-day trading on Wednesday, reaching $248.09. 106,638 shares of the company’s stock traded hands, compared to its average volume of 192,148. Boston Beer has a 12-month low of $222.27 and a 12-month high of $371.65. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 1.23 and a beta of 1.06. The company has a 50 day moving average price of $261.05 and a 200-day moving average price of $281.06.

Institutional Trading of Boston Beer

Hedge funds have recently made changes to their positions in the stock. Entropy Technologies LP bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $368,000. Legato Capital Management LLC bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $1,966,000. Merit Financial Group LLC bought a new stake in shares of Boston Beer in the 4th quarter worth approximately $434,000. Point72 Hong Kong Ltd bought a new stake in shares of Boston Beer in the 3rd quarter worth approximately $1,746,000. Finally, Barclays PLC boosted its position in shares of Boston Beer by 44.2% in the 3rd quarter. Barclays PLC now owns 12,988 shares of the company’s stock worth $3,753,000 after purchasing an additional 3,983 shares in the last quarter. 81.13% of the stock is owned by institutional investors.

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.