Insider Selling: Boston Beer major shareholder Unloads 4,000 Shares of Stock (SAM)
Boston Beer (NYSE:SAM) major shareholder C James Koch sold 4,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $229.76, for a total value of $919,040.00. Following the sale, the insider now directly owns 67,232 shares in the company, valued at approximately $15,447,224. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Several analysts have recently commented on the stock. Analysts at Williams Capital raised their price target on shares of Boston Beer from $260.00 to $284.00 in a research note on Wednesday, August 6th. They now have a “buy” rating 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. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $253.67.
Boston Beer (NYSE:SAM) traded down 0.22% on Monday, hitting $231.81. The stock had a trading volume of 19,839 shares. Boston Beer has a 1-year low of $201.71 and a 1-year high of $265.53. The stock has a 50-day moving average of $224.4 and a 200-day moving average of $227.7. The company has a market cap of $3.005 billion and a price-to-earnings ratio of 40.70.
Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.09. The company had revenue of $231.60 million for the quarter, compared to the consensus estimate of $224.70 million. During the same quarter in the previous year, the company posted $1.45 earnings per share. The company’s revenue for the quarter was up 27.7% on a year-over-year basis. Analysts expect that Boston Beer will post $6.50 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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