Boston Beer major shareholder Sells $889,120 in Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 4,000 shares of Boston Beer stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $222.28, for a total transaction of $889,120.00. Following the transaction, the insider now directly owns 101,632 shares of the company’s stock, valued at approximately $22,590,761. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Boston Beer (NYSE:SAM) traded up 0.89% on Thursday, hitting $226.00. The stock had a trading volume of 32,606 shares. Boston Beer has a 1-year low of $165.44 and a 1-year high of $265.53. The stock’s 50-day moving average is $223.8 and its 200-day moving average is $229.2. The company has a market cap of $2.916 billion and a price-to-earnings ratio of 42.36.
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. On average, analysts predict that Boston Beer will post $6.38 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $244.04.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
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