Boston Beer Co. (SAM) Trading Up 3.2%
Boston Beer Co. (NYSE:SAM) shares were up 3.2% on Tuesday . The stock traded as high as $194.11 and last traded at $192.59, with a volume of 90,021 shares. The stock had previously closed at $186.55.
Several research analysts have weighed in on SAM shares. Zacks Investment Research downgraded shares of Boston Beer from a “hold” rating to a “strong sell” rating in a report on Thursday, April 28th. Berenberg Bank upgraded shares of Boston Beer from a “sell” rating to a “hold” rating and set a $135.00 price objective on the stock in a report on Thursday, May 19th. Susquehanna restated a “hold” rating and set a $165.00 price objective on shares of Boston Beer in a report on Sunday, July 3rd. Jefferies Group restated a “hold” rating and set a $145.00 price objective (down previously from $168.00) on shares of Boston Beer in a report on Monday, April 25th. Finally, Royal Bank Of Canada lowered their price objective on shares of Boston Beer from $183.00 to $172.00 and set a “sector perform” rating on the stock in a report on Friday, April 22nd. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $178.00.
The company has a market capitalization of $2.37 billion and a P/E ratio of 28.86. The firm’s 50-day moving average is $174.45 and its 200-day moving average is $172.42.
Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 21st. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $244.80 million for the quarter, compared to the consensus estimate of $238.87 million. Equities research analysts forecast that Boston Beer Co. will post $6.55 EPS for the current year.
In other Boston Beer news, major shareholder Tybourne Capital Management Hk sold 600 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $186.33, for a total value of $111,798.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David L. Grinnell sold 1,000 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.81, for a total value of $164,810.00. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in the company. GSA Capital Partners LLP raised its stake in Boston Beer by 373.4% in the fourth quarter. GSA Capital Partners LLP now owns 5,506 shares of the company’s stock worth $1,112,000 after buying an additional 4,343 shares during the last quarter. Trexquant Investment LP acquired a new stake in Boston Beer during the fourth quarter worth $1,676,000. Finally, Russell Frank Co acquired a new stake in Boston Beer during the fourth quarter worth $1,858,000.
The Boston Beer Company, Inc (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. The Company operates through two segments: Boston Beer Company segment and A&S Brewing Collaborative segment.
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