Shares of The Boston Beer Company, Inc. (NYSE:SAM - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 225,921 shares traded hands during trading, an increase of 47% from the previous session's volume of 153,559 shares.The stock last traded at $287.84 and had previously closed at $284.53.
Analysts Set New Price Targets
SAM has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Boston Beer from $310.00 to $325.00 and gave the company an "in-line" rating in a report on Friday, April 26th. Citigroup dropped their target price on shares of Boston Beer from $350.00 to $315.00 and set a "neutral" rating for the company in a research report on Tuesday, April 16th. Royal Bank of Canada restated a "sector perform" rating and issued a $337.00 target price on shares of Boston Beer in a research report on Wednesday, February 28th. The Goldman Sachs Group dropped their target price on shares of Boston Beer from $257.00 to $250.00 and set a "sell" rating for the company in a research report on Tuesday, April 9th. Finally, Piper Sandler began coverage on shares of Boston Beer in a research report on Friday, March 22nd. They issued an "overweight" rating and a $350.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $335.00.
Read Our Latest Report on SAM
Boston Beer Price Performance
The company's fifty day moving average price is $291.75 and its 200 day moving average price is $328.55. The company has a market cap of $3.48 billion, a PE ratio of 35.68, a P/E/G ratio of 1.04 and a beta of 1.03.
Boston Beer (NYSE:SAM - Get Free Report) last announced its earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.08 by $0.96. The company had revenue of $426.05 million during the quarter, compared to the consensus estimate of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. On average, analysts forecast that The Boston Beer Company, Inc. will post 10.26 EPS for the current year.
Insider Buying and Selling
In related news, insider Carolyn L. O'boyle sold 101 shares of the firm's stock in a transaction dated 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 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 accessible through this link. 24.00% of the stock is currently owned by corporate insiders.
Institutional Trading of Boston Beer
Large investors have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its position in Boston Beer by 88.4% during the third quarter. Covestor Ltd now owns 81 shares of the company's stock worth $32,000 after purchasing an additional 38 shares during the period. Quarry LP bought a new position in shares of Boston Beer in the fourth quarter valued at approximately $42,000. First Command Advisory Services Inc. bought a new position in shares of Boston Beer in the third quarter valued at approximately $56,000. DekaBank Deutsche Girozentrale bought a new position in shares of Boston Beer in the third quarter valued at approximately $59,000. Finally, CWM LLC raised its stake in Boston Beer by 17.6% in the fourth quarter. CWM LLC now owns 227 shares of the company's stock valued at $78,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company's stock.
About Boston Beer
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Boston Beer, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boston Beer wasn't on the list.
While Boston Beer currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
