Boston Beer Co major shareholder Unloads $910,240 in 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 transaction of $910,240.00. Following the sale, the insider now directly owns 55,232 shares of the company’s stock, valued at approximately $12,568,594. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Boston Beer Co (NYSE:SAM) opened at 228.83 on Monday. Boston Beer Co has a one year low of $202.78 and a one year high of $265.53. The stock has a 50-day moving average of $225.3 and a 200-day moving average of $228.1. The company has a market cap of $2.967 billion and a P/E ratio of 39.95.
Boston Beer Co (NYSE:SAM) last announced its earnings results 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.
SAM has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Boston Beer Co from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. 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 given a buy rating to the stock. Boston Beer Co currently has a consensus rating of “Buy” and a consensus 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.