Boston Beer major shareholder Sells $888,120 in Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch unloaded 4,000 shares of the company’s stock on the open market in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $222.03, for a total value of $888,120.00. Following the completion of the sale, the insider now directly owns 82,032 shares in the company, valued at approximately $18,213,565. The transaction was disclosed in a filing 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 transactions 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Boston Beer presently has an average rating of “Buy” and a consensus price target of $244.04.
Boston Beer (NYSE:SAM) traded down 1.12% on Thursday, hitting $220.79. 18,324 shares of the company’s stock traded hands. Boston Beer has a 52 week low of $169.81 and a 52 week high of $265.53. The stock has a 50-day moving average of $221.2 and a 200-day moving average of $228.8. The company has a market cap of $2.849 billion and a price-to-earnings ratio of 42.23.
Boston Beer (NYSE:SAM) last announced its earnings results 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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