Insider Selling: Boston Beer major shareholder Unloads 3,600 Shares of Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 3,600 shares of the company’s stock on the open market in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $221.03, for a total transaction of $795,708.00. Following the completion of the transaction, the insider now directly owns 86,032 shares in the company, valued at approximately $19,015,653. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Boston Beer currently has a consensus rating of “Buy” and a consensus price target of $244.04.
Boston Beer (NYSE:SAM) traded up 0.08% on Wednesday, hitting $219.815. 9,968 shares of the company’s stock traded hands. Boston Beer has a one year low of $169.81 and a one year high of $265.53. The stock has a 50-day moving average of $221.5 and a 200-day moving average of $228.8. The company has a market cap of $2.836 billion and a P/E ratio of 41.54.
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 $6.38 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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