Insider Selling: C James Koch Unloads 2,000 Shares of Boston Beer Co Stock (SAM)
Boston Beer Co (NYSE:SAM) major shareholder C James Koch sold 2,000 shares of the company’s stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $228.73, for a total transaction of $457,460.00. Following the completion of the transaction, the insider now directly owns 49,232 shares in the company, valued at approximately $11,260,835. The transaction 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 shares are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $250.25.
Boston Beer Co (NYSE:SAM) traded up 0.34% on Friday, hitting $228.83. The stock had a trading volume of 71,908 shares. Boston Beer Co has a 52 week low of $201.71 and a 52 week 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 $2.967 billion and a price-to-earnings ratio of 39.95.
Boston Beer Co (NYSE:SAM) last released its earnings data on Wednesday, July 30th. The company reported $1.88 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.45 earnings per share. Boston Beer Co’s revenue was up 27.7% compared to the same quarter last year. Analysts expect that Boston Beer Co 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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