Insider Selling: Boston Beer Major Shareholder Unloads 1,000 Shares of Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 1,000 shares of Boston Beer stock on the open market in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $241.06, for a total value of $241,060.00. Following the completion of the transaction, the insider now directly owns 34,134 shares in the company, valued at approximately $8,228,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
SAM has been the subject of a number of recent research reports. Analysts at RBC Capital initiated coverage on shares of Boston Beer in a research note to investors on Monday, November 25th. They set a “sector perform” rating and a $251.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Boston Beer from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, November 4th. They now have a $261.20 price target on the stock. Finally, analysts at Williams Capital upgraded shares of Boston Beer from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, November 4th. They now have a $263.00 price target on the stock, up previously from $210.00. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Boston Beer has an average rating of “Hold” and an average target price of $233.37.
Boston Beer (NYSE:SAM) traded down 5.75% during mid-day trading on Thursday, hitting $227.88. 31,019 shares of the company’s stock traded hands. Boston Beer has a 52 week low of $134.42 and a 52 week high of $265.53. The stock has a 50-day moving average of $238. and a 200-day moving average of $219.5. The company has a market cap of $2.903 billion and a P/E ratio of 47.44.
Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.89 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.82 by $0.07. The company had revenue of $216.40 million for the quarter, compared to the consensus estimate of $200.42 million. During the same quarter last year, the company posted $1.53 earnings per share. Boston Beer’s revenue was up 30.0% compared to the same quarter last year.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
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