Boston Beer Company Inc (NYSE:SAM) Chairman C James Koch sold 10,000 shares of Boston Beer stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $318.68, for a total value of $3,186,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Boston Beer stock opened at $319.20 on Friday. Boston Beer Company Inc has a 52 week low of $150.57 and a 52 week high of $329.95. The stock has a market capitalization of $3.80 billion, a PE ratio of 53.11, a price-to-earnings-growth ratio of 4.80 and a beta of 0.72.
Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, July 26th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.77 by ($0.79). Boston Beer had a return on equity of 17.21% and a net margin of 10.39%. The firm had revenue of $273.10 million during the quarter, compared to the consensus estimate of $273.05 million. During the same period last year, the firm posted $2.35 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. sell-side analysts predict that Boston Beer Company Inc will post 7.09 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of SAM. Macquarie Group Ltd. increased its holdings in shares of Boston Beer by 30,313.3% in the second quarter. Macquarie Group Ltd. now owns 182,480 shares of the company’s stock worth $54,689,000 after purchasing an additional 181,880 shares during the last quarter. RK Asset Management LLC increased its holdings in shares of Boston Beer by 82.0% in the second quarter. RK Asset Management LLC now owns 106,221 shares of the company’s stock worth $25,377,000 after purchasing an additional 47,860 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Boston Beer by 175.3% in the second quarter. Acadian Asset Management LLC now owns 74,761 shares of the company’s stock worth $22,409,000 after purchasing an additional 47,608 shares during the last quarter. Sandler Capital Management bought a new stake in shares of Boston Beer in the second quarter worth about $13,487,000. Finally, BlackRock Inc. increased its holdings in shares of Boston Beer by 4.3% in the second quarter. BlackRock Inc. now owns 942,356 shares of the company’s stock worth $282,424,000 after purchasing an additional 38,908 shares during the last quarter. 72.34% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on SAM shares. ValuEngine upgraded Boston Beer from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Zacks Investment Research downgraded Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Citigroup boosted their price objective on Boston Beer from $238.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, July 10th. Macquarie downgraded Boston Beer from a “neutral” rating to an “underperform” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 25th. They noted that the move was a valuation call. Finally, Cowen restated a “hold” rating and issued a $350.00 price objective on shares of Boston Beer in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. Boston Beer presently has a consensus rating of “Hold” and a consensus price target of $258.85.
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 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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