Several other analysts have also weighed in on SAM. UBS Group raised Boston Beer from a neutral rating to a buy rating and upped their target price for the company from $415.00 to $440.00 in a report on Tuesday, December 3rd. Deutsche Bank initiated coverage on Boston Beer in a report on Friday, September 27th. They issued a hold rating and a $380.00 target price on the stock. Jefferies Financial Group lowered their target price on Boston Beer from $332.00 to $319.00 and set an underperform rating on the stock in a report on Wednesday, October 30th. They noted that the move was a valuation call. Citigroup raised Boston Beer from a neutral rating to a buy rating and upped their target price for the company from $394.00 to $448.00 in a report on Friday, October 11th. Finally, BMO Capital Markets upped their target price on Boston Beer to $425.00 and gave the company an outperform rating in a report on Wednesday, October 30th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $394.52.
SAM stock traded down $11.66 on Thursday, reaching $381.67. 96,647 shares of the company’s stock were exchanged, compared to its average volume of 131,922. The stock has a fifty day moving average of $376.22 and a 200-day moving average of $385.08. Boston Beer has a twelve month low of $241.72 and a twelve month high of $444.64. The firm has a market cap of $4.79 billion, a PE ratio of 38.59, a P/E/G ratio of 3.49 and a beta of 0.61.
Boston Beer (NYSE:SAM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $3.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.79 by $0.79. Boston Beer had a return on equity of 20.99% and a net margin of 10.06%. The firm had revenue of $378.47 million for the quarter, compared to analyst estimates of $364.66 million. On average, equities research analysts forecast that Boston Beer will post 9.22 EPS for the current fiscal year.
In related news, VP Tara L. Heath sold 275 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $400.00, for a total transaction of $110,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David A. Burwick sold 279 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $373.04, for a total value of $104,078.16. The disclosure for this sale can be found here. Insiders have sold 72,436 shares of company stock worth $27,215,853 over the last quarter. 28.40% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in SAM. Marshall Wace North America L.P. purchased a new position in shares of Boston Beer in the 1st quarter worth about $59,000. FMR LLC grew its stake in shares of Boston Beer by 29.0% in the first quarter. FMR LLC now owns 90,102 shares of the company’s stock valued at $26,555,000 after buying an additional 20,259 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Boston Beer by 3.5% in the first quarter. First Trust Advisors LP now owns 10,480 shares of the company’s stock valued at $3,089,000 after buying an additional 356 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Boston Beer in the second quarter valued at about $35,000. Finally, Vanguard Group Inc. grew its stake in shares of Boston Beer by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,047,234 shares of the company’s stock valued at $395,604,000 after buying an additional 53,723 shares in the last quarter. Institutional investors own 73.40% of the company’s stock.
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, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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