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 Boston Beer stock on the open market in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $229.54, for a total transaction of $688,620.00. Following the completion of the sale, the insider now directly owns 118,932 shares in the company, valued at approximately $27,299,651. The sale was disclosed in a document filed with the SEC, which is available at 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.
Several analysts have recently commented on the stock. 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 has a consensus rating of “Buy” and a consensus price target of $244.04.
Boston Beer (NYSE:SAM) traded down 1.17% during mid-day trading on Wednesday, hitting $224.97. 11,378 shares of the company’s stock traded hands. Boston Beer has a 1-year low of $146.57 and a 1-year high of $265.53. The stock has a 50-day moving average of $237.7 and a 200-day moving average of $233.5. The company has a market cap of $2.903 billion and a P/E ratio of 43.05.
Boston Beer (NYSE:SAM) last released its earnings data on Wednesday, April 30th. The company reported $0.62 earnings per share (EPS) for the quarter, missing the 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.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
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