The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) insider Carolyn L. O'boyle sold 101 shares of the company's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Boston Beer Trading Down 0.3 %
Shares of Boston Beer stock traded down $0.86 during trading on Tuesday, reaching $299.84. The company's stock had a trading volume of 125,872 shares, compared to its average volume of 142,711. The stock has a 50-day moving average price of $327.84 and a two-hundred day moving average price of $344.10. The Boston Beer Company, Inc. has a one year low of $287.33 and a one year high of $395.52. The stock has a market capitalization of $3.60 billion, a P/E ratio of 48.36, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02.
Boston Beer (NYSE:SAM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($1.27). The firm had revenue of $393.72 million during the quarter, compared to analyst estimates of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. Boston Beer's revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.93) earnings per share. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 9.98 EPS for the current fiscal year.
Hedge Funds Weigh In On Boston Beer
Several institutional investors have recently modified their holdings of SAM. JPMorgan Chase & Co. grew its position in shares of Boston Beer by 2.0% during the 1st quarter. JPMorgan Chase & Co. now owns 16,610 shares of the company's stock worth $6,452,000 after buying an additional 333 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in Boston Beer by 64.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,778 shares of the company's stock valued at $691,000 after acquiring an additional 696 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Boston Beer by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,961 shares of the company's stock valued at $1,151,000 after acquiring an additional 95 shares in the last quarter. Bank of Montreal Can lifted its stake in Boston Beer by 220.8% in the 1st quarter. Bank of Montreal Can now owns 6,080 shares of the company's stock valued at $2,414,000 after acquiring an additional 4,185 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Boston Beer by 42.6% during the 1st quarter. MetLife Investment Management LLC now owns 6,488 shares of the company's stock worth $2,520,000 after purchasing an additional 1,938 shares in the last quarter. 81.13% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have weighed in on SAM. UBS Group dropped their target price on shares of Boston Beer from $390.00 to $355.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Piper Sandler began coverage on shares of Boston Beer in a report on Friday, March 22nd. They set an "overweight" rating and a $350.00 target price on the stock. Roth Mkm increased their target price on shares of Boston Beer from $406.00 to $422.00 and gave the stock a "buy" rating in a report on Tuesday, January 23rd. Sanford C. Bernstein upgraded shares of Boston Beer from an "underperform" rating to a "market perform" rating and upped their price target for the stock from $280.00 to $335.00 in a research report on Tuesday, January 16th. Finally, Citigroup decreased their target price on shares of Boston Beer from $370.00 to $350.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $344.08.
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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, 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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