Insider Selling: Boston Beer major shareholder Sells 3,000 Shares of Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 3,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $229.91, for a total value of $689,730.00. Following the completion of the sale, the insider now directly owns 121,932 shares of the company’s stock, valued at approximately $28,033,386. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Boston Beer (NYSE:SAM) traded down 1.14% during mid-day trading on Tuesday, hitting $230.77. The stock had a trading volume of 14,110 shares. Boston Beer has a 52-week low of $145.85 and a 52-week high of $265.53. The stock has a 50-day moving average of $238.0 and a 200-day moving average of $233.7. The company has a market cap of $2.978 billion and a P/E ratio of 44.14.
Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.62 earnings per share for the quarter, missing the analysts’ 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. Analysts expect that Boston Beer will post $6.34 EPS for the current fiscal year.
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, May 5th. 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. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $244.04.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
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