The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) has earned a consensus recommendation of "Hold" from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $383.29.
SAM has been the topic of a number of research analyst reports. Sanford C. Bernstein cut their target price on Boston Beer to $320.00 in a research note on Friday, July 22nd. MKM Partners cut their price target on shares of Boston Beer from $334.00 to $279.00 and set a "neutral" rating for the company in a research report on Friday, July 22nd. Redburn Partners started coverage on shares of Boston Beer in a research note on Wednesday, July 13th. They issued a "sell" rating for the company. Royal Bank of Canada decreased their target price on shares of Boston Beer from $331.00 to $314.00 in a research note on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Boston Beer from $337.00 to $296.00 and set a "hold" rating on the stock in a research note on Wednesday, July 13th.
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Insider Activity at Boston Beer
In other news, VP David L. Grinnell sold 425 shares of the company's stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $304.97, for a total transaction of $129,612.25. Following the completion of the transaction, the vice president now owns 1,611 shares of the company's stock, valued at approximately $491,306.67. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boston Beer news, VP David L. Grinnell sold 425 shares of the company's stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $304.97, for a total value of $129,612.25. Following the completion of the transaction, the vice president now owns 1,611 shares in the company, valued at approximately $491,306.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn L. O'boyle sold 251 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $381.73, for a total value of $95,814.23. Following the transaction, the insider now owns 2,593 shares of the company's stock, valued at $989,825.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,101 shares of company stock valued at $386,892. 23.30% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Captrust Financial Advisors boosted its stake in Boston Beer by 178.5% during the second quarter. Captrust Financial Advisors now owns 571 shares of the company's stock valued at $173,000 after buying an additional 366 shares in the last quarter. Legal & General Group Plc boosted its stake in Boston Beer by 13.2% during the second quarter. Legal & General Group Plc now owns 22,106 shares of the company's stock valued at $6,697,000 after buying an additional 2,575 shares in the last quarter. CNB Bank bought a new position in Boston Beer during the second quarter valued at about $86,000. Walleye Capital LLC bought a new position in Boston Beer during the second quarter valued at about $401,000. Finally, Eagle Bay Advisors LLC bought a new position in Boston Beer during the second quarter valued at about $32,000. 70.32% of the stock is owned by institutional investors and hedge funds.
Boston Beer Stock Down 1.9 %
SAM stock opened at $330.80 on Tuesday. The business has a fifty day moving average of $348.97 and a 200-day moving average of $357.17. The company has a market cap of $4.06 billion, a P/E ratio of -68.49 and a beta of 0.97. Boston Beer has a twelve month low of $287.00 and a twelve month high of $569.39.
Boston Beer (NYSE:SAM – Get Rating) last announced its earnings results on Thursday, July 21st. The company reported $4.31 earnings per share for the quarter, missing analysts' consensus estimates of $5.23 by ($0.92). Boston Beer had a positive return on equity of 8.60% and a negative net margin of 2.91%. During the same period in the prior year, the business posted $4.72 EPS. As a group, equities research analysts anticipate that Boston Beer will post 8.22 earnings per share for the current fiscal year.
About Boston Beer
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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, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.
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