Insider Selling: Boston Beer Co major shareholder Unloads 4,000 Shares of Stock (SAM)
Boston Beer Co (NYSE:SAM) major shareholder C James Koch unloaded 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $227.56, for a total value of $910,240.00. Following the transaction, the insider now directly owns 55,232 shares in the company, valued at approximately $12,568,594. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Boston Beer Co (NYSE:SAM) traded down 0.34% on Thursday, hitting $228.05. 25,967 shares of the company’s stock traded hands. Boston Beer Co has a 1-year low of $201.71 and a 1-year high of $265.53. The stock’s 50-day moving average is $225.1 and its 200-day moving average is $228.. The company has a market cap of $2.957 billion and a price-to-earnings ratio of 40.08.
Boston Beer Co (NYSE:SAM) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue was up 27.7% on a year-over-year basis. Analysts expect that Boston Beer Co will post $6.50 EPS for the current fiscal year.
A number of research firms have recently commented on SAM. Analysts at Zacks downgraded shares of Boston Beer Co from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $240.00 price target on the stock. Separately, analysts at Williams Capital raised their price target on shares of Boston Beer Co from $260.00 to $284.00 in a research note on Wednesday, August 6th. They now have a “buy” rating on the stock. Finally, analysts at Credit Agricole upgraded shares of Boston Beer Co from an “underperform” rating to an “outperform” rating in a research note on Thursday, June 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $250.25.
The Boston Beer Company, Inc (NYSE:SAM) is a craft brewer in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.