Boston Beer (SAM) Upgraded by Macquarie to “Neutral”

Boston Beer (NYSE:SAM) was upgraded by Macquarie from an “underperform” rating to a “neutral” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a $140.00 target price on the stock. Macquarie’s price objective points to a potential downside of 22.80% from the company’s previous close.

SAM has been the subject of several other reports. Citigroup raised their target price on shares of Boston Beer from $165.00 to $181.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Stifel Nicolaus started coverage on shares of Boston Beer in a report on Tuesday, December 5th. They set a “hold” rating and a $166.00 target price for the company. Zacks Investment Research upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and set a $187.00 target price for the company in a report on Monday, October 30th. Credit Suisse Group raised their target price on shares of Boston Beer from $150.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Finally, TheStreet upgraded shares of Boston Beer from a “c+” rating to a “b-” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $160.33.

Shares of Boston Beer (NYSE:SAM) opened at $181.35 on Thursday. Boston Beer has a 52 week low of $128.70 and a 52 week high of $197.05. The company has a market cap of $2,150.00, a PE ratio of 24.74, a P/E/G ratio of 5.13 and a beta of 0.53.

In other news, insider Martin F. Roper sold 773 shares of Boston Beer stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $190.62, for a total transaction of $147,349.26. Following the completion of the sale, the insider now directly owns 33,046 shares in the company, valued at $6,299,228.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David A. Burwick sold 5,000 shares of Boston Beer stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $190.01, for a total transaction of $950,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,983 shares of company stock valued at $20,072,674. Insiders own 31.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Endurance Wealth Management Inc. purchased a new stake in shares of Boston Beer during the fourth quarter worth about $134,000. Huntington National Bank grew its holdings in shares of Boston Beer by 173.9% during the fourth quarter. Huntington National Bank now owns 775 shares of the company’s stock worth $148,000 after buying an additional 492 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Boston Beer during the third quarter worth about $203,000. Texas Yale Capital Corp. purchased a new stake in shares of Boston Beer during the fourth quarter worth about $207,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Boston Beer by 5.1% during the second quarter. Cubist Systematic Strategies LLC now owns 1,576 shares of the company’s stock worth $208,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

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Boston Beer Company Profile

The Boston Beer Company, Inc is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.

Analyst Recommendations for Boston Beer (NYSE:SAM)

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