Insider Selling: C James Koch Unloads 3,000 Shares of Boston Beer Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $233.65, for a total value of $700,950.00. Following the completion of the transaction, the insider now directly owns 28,232 shares in the company, valued at approximately $6,596,407. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
A number of research firms have recently commented on SAM. Analysts at Williams Capital cut their price target on shares of Boston Beer from $270.00 to $260.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Tigress Financial initiated coverage on shares of Boston Beer in a research note on Friday, February 28th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $244.04.
Boston Beer (NYSE:SAM) traded down 3.14% on Friday, hitting $224.20. 70,713 shares of the company’s stock traded hands. Boston Beer has a 52 week low of $143.42 and a 52 week high of $265.53. The stock’s 50-day moving average is $239.0 and its 200-day moving average is $234.1. The company has a market cap of $2.893 billion and a price-to-earnings ratio of 43.77.
Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.62 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.70 by $0.08. The company had revenue of $183.80 million for the quarter, compared to the consensus estimate of $179.14 million. On average, analysts predict that Boston Beer will post $6.34 earnings per share for the current fiscal year.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
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