Insider Selling: C James Koch Unloads 4,000 Shares of Boston Beer Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 4,000 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $221.47, for a total transaction of $885,880.00. Following the sale, the insider now directly owns 105,632 shares in the company, valued at approximately $23,394,319. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Boston Beer (NYSE:SAM) traded up 0.68% on Wednesday, hitting $224.00. The stock had a trading volume of 32,279 shares. Boston Beer has a 52-week low of $165.44 and a 52-week high of $265.53. The stock has a 50-day moving average of $223.8 and a 200-day moving average of $229.2. The company has a market cap of $2.890 billion and a P/E ratio of 42.07.
Boston Beer (NYSE:SAM) last announced its earnings results 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. On average, analysts predict that Boston Beer will post $6.38 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on SAM shares. Analysts at Credit Agricole upgraded shares of Boston Beer from an “underperform” rating to an “outperform” rating in a research note on Thursday, June 12th. 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently 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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