Susquehanna Bancshares Cuts Boston Beer (SAM) Price Target to $241.00
Boston Beer (NYSE:SAM) had its target price decreased by Susquehanna Bancshares from $283.00 to $241.00 in a report published on Tuesday morning. Susquehanna Bancshares currently has a neutral rating on the stock.
Several other equities research analysts also recently commented on SAM. Zacks Investment Research downgraded Boston Beer from a buy rating to a hold rating in a report on Monday, September 10th. Berenberg Bank set a $290.00 target price on Boston Beer and gave the stock a hold rating in a research report on Tuesday, September 11th. Guggenheim initiated coverage on Boston Beer in a research report on Thursday, September 13th. They issued a buy rating and a $381.00 target price on the stock. Jefferies Financial Group reissued a hold rating and issued a $270.00 target price on shares of Boston Beer in a research report on Friday, October 26th. Finally, Citigroup raised their target price on Boston Beer from $285.00 to $290.00 and gave the stock a hold rating in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $261.00.
Shares of NYSE:SAM traded up $1.71 on Tuesday, hitting $239.74. 2,649 shares of the company traded hands, compared to its average volume of 130,028. Boston Beer has a 52 week low of $160.40 and a 52 week high of $329.95. The company has a market capitalization of $2.68 billion, a PE ratio of 39.91, a PEG ratio of 2.84 and a beta of 0.65.
In other news, VP Quincy B. Troupe sold 700 shares of Boston Beer stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $298.80, for a total transaction of $209,160.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman C James Koch sold 9,317 shares of Boston Beer stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $278.55, for a total value of $2,595,250.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,897 shares of company stock worth $4,123,321. Insiders own 29.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of SAM. Russell Investments Group Ltd. lifted its position in shares of Boston Beer by 3.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,975 shares of the company’s stock valued at $2,688,000 after buying an additional 270 shares in the last quarter. BlackRock Inc. lifted its holdings in Boston Beer by 4.3% in the 2nd quarter. BlackRock Inc. now owns 942,356 shares of the company’s stock worth $282,424,000 after purchasing an additional 38,908 shares in the last quarter. FMR LLC purchased a new position in Boston Beer in the 2nd quarter worth approximately $216,000. BlueMountain Capital Management LLC purchased a new position in Boston Beer in the 2nd quarter worth approximately $499,000. Finally, Laurion Capital Management LP purchased a new position in Boston Beer in the 2nd quarter worth approximately $324,000. 74.18% 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 sells approximately 60 beers under the Samuel Adams brand names; 10 flavored malt beverages under the Twisted Tea brand name; 20 hard cider beverages under the Angry Orchard brand; 5 hard sparkling waters under the Truly Spiked & Sparkling brand name; and approximately 50 beers under 4 brand names.
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