Boston Beer major shareholder Sells $893,520 in Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 4,000 shares of Boston Beer stock on the open market in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $223.38, for a total value of $893,520.00. Following the sale, the insider now directly owns 89,632 shares in the company, valued at approximately $20,021,996. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
SAM has been the subject of a number of recent research reports. 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 given a buy rating to the company’s stock. Boston Beer has a consensus rating of “Buy” and a consensus target price of $244.04.
Boston Beer (NYSE:SAM) traded down 0.04% on Tuesday, hitting $222.26. 16,415 shares of the company’s stock traded hands. Boston Beer has a one year low of $166.41 and a one year high of $265.53. The stock has a 50-day moving average of $222.0 and a 200-day moving average of $229.0. The company has a market cap of $2.868 billion and a price-to-earnings ratio of 42.05.
Boston Beer (NYSE:SAM) last released its 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 $6.38 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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