Boston Beer
About: Boston Beer is a top player in high-end malt beverages and adjacent categories in the US, with strong positions in craft beer, flavored malt beverages, hard cider, and hard seltzer. The bulk of volume and revenue is concentrated in four brands: Samuel Adams, Angry Orchard, Twisted Tea, and Truly. Beverages are produced using a hybrid model leveraging both in-house capacities and third-party breweries through contract arrangements. While the firm is required to use distributors to reach end markets, including retailers and on-premises operators, it also employs 500 internal sales representatives to educate the market about its products. The firm generates almost all sales in the US.
Employees: 2,537
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
38% more call options, than puts
Call options by funds: $56.6M | Put options by funds: $41.1M
31% more repeat investments, than reductions
Existing positions increased: 117 | Existing positions reduced: 89
3.62% more ownership
Funds ownership: 78.86% [Q4 2024] → 82.48% (+3.62%) [Q1 2025]
6% less funds holding
Funds holding: 342 [Q4 2024] → 321 (-21) [Q1 2025]
21% less first-time investments, than exits
New positions opened: 50 | Existing positions closed: 63
22% less capital invested
Capital invested by funds: $2.23B [Q4 2024] → $1.75B (-$480M) [Q1 2025]
33% less funds holding in top 10
Funds holding in top 10: 3 [Q4 2024] → 2 (-1) [Q1 2025]
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
RBC Capital Nik Modi | 34%upside $279 | Sector Perform Reiterated | 22 Apr 2025 |
UBS Sean King | 34%upside $279 | Neutral Maintained | 17 Apr 2025 |
Piper Sandler Michael Lavery | 10%upside $230 | Neutral Maintained | 17 Apr 2025 |
Citigroup Filippo Falorni | 37%upside $285 | Buy Maintained | 14 Apr 2025 |
Financial journalist opinion
Based on 3 articles about SAM published over the past 30 days
