Annette N. Fritsch Sells 600 Shares of The Boston Beer Company, Inc. (NYSE:SAM) Stock

Key Points

• Annette N. Fritsch, VP of The Boston Beer Company, sold 600 shares at an average price of $219.24, reducing her ownership by 5.82% and retaining 9,715 shares valued at approximately $2.13 million.
• Boston Beer Company's stock was trading down 1.9% to $213.45, with a market capitalization of $2.38 billion and a one-year price range between $185.34 and $329.55.
• Recent price target adjustments by analysts have lowered expectations, with Morgan Stanley reducing its target from $270 to $245, reflecting a general trend of decreased ratings for the stock.

The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) VP Annette N. Fritsch sold 600 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $219.24, for a total value of $131,544.00. Following the completion of the transaction, the vice president directly owned 9,715 shares in the company, valued at $2,129,916.60. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Boston Beer Trading Down 1.9%

NYSE:SAM traded down $4.04 on Monday, hitting $213.45. The company's stock had a trading volume of 93,768 shares, compared to its average volume of 224,541. The firm has a market capitalization of $2.38 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84. The Boston Beer Company, Inc. has a one year low of $185.34 and a one year high of $329.55. The stock has a fifty day moving average of $205.41 and a two-hundred day moving average of $226.94.

Boston Beer (NYSE:SAM - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $5.45 earnings per share for the quarter, topping analysts' consensus estimates of $4.37 by $1.08. The company had revenue of $587.95 million for the quarter, compared to analyst estimates of $599.18 million. Boston Beer had a return on equity of 15.15% and a net margin of 3.65%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.39 earnings per share. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.29 EPS for the current year.

Hedge Funds Weigh In On Boston Beer

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in shares of Boston Beer by 97.3% in the 1st quarter. Millennium Management LLC now owns 185,898 shares of the company's stock valued at $44,400,000 after purchasing an additional 91,667 shares in the last quarter. Armistice Capital LLC boosted its holdings in shares of Boston Beer by 72.7% during the 1st quarter. Armistice Capital LLC now owns 210,553 shares of the company's stock valued at $50,288,000 after acquiring an additional 88,624 shares in the last quarter. J. Goldman & Co LP boosted its holdings in shares of Boston Beer by 251.8% during the 4th quarter. J. Goldman & Co LP now owns 119,687 shares of the company's stock valued at $35,904,000 after acquiring an additional 85,669 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in shares of Boston Beer during the 4th quarter valued at $25,054,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of Boston Beer during the 4th quarter valued at $21,412,000. Institutional investors own 81.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley cut their price objective on Boston Beer from $270.00 to $245.00 and set an "equal weight" rating on the stock in a research note on Friday, July 25th. UBS Group decreased their price target on Boston Beer from $275.00 to $214.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Evercore ISI reduced their price objective on Boston Beer from $275.00 to $250.00 and set an "in-line" rating on the stock in a research note on Friday, July 25th. Piper Sandler dropped their target price on Boston Beer from $240.00 to $230.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen downgraded Boston Beer from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $258.09.

Boston Beer Company Profile

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.

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