Boston Beer Co. (SAM) Sees Strong Trading Volume
Boston Beer Co. (NYSE:SAM) shares saw strong trading volume on Tuesday . 214,546 shares were traded during trading, a decline of 3% from the previous session’s volume of 220,999 shares.The stock last traded at $153.58 and had previously closed at $158.19.
Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Boston Beer from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Jefferies Group reaffirmed a “hold” rating and set a $151.00 price target (up from $145.00) on shares of Boston Beer in a report on Monday, July 25th. Susquehanna reaffirmed a “hold” rating on shares of Boston Beer in a report on Monday, August 22nd. Finally, Credit Suisse Group AG began coverage on Boston Beer in a report on Thursday, September 15th. They set an “underperform” rating and a $156.00 price target for the company. Three analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Boston Beer presently has a consensus rating of “Hold” and a consensus price target of $176.00.
The stock has a 50-day moving average of $180.47 and a 200-day moving average of $171.43. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 22.97 and a beta of 0.69.
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Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, July 21st. The company reported $2.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.12. The firm earned $244.80 million during the quarter, compared to the consensus estimate of $238.87 million. Boston Beer had a return on equity of 19.60% and a net margin of 9.22%. On average, analysts forecast that Boston Beer Co. will post $6.53 earnings per share for the current fiscal year.
In related news, VP David L. Grinnell sold 1,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $187.85, for a total transaction of $187,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martin F. Roper sold 7,000 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $191.12, for a total value of $1,337,840.00. Following the transaction, the insider now owns 12,273 shares of the company’s stock, valued at $2,345,615.76. The disclosure for this sale can be found here. Corporate insiders own 31.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SAM. Tower Research Capital LLC TRC increased its position in shares of Boston Beer by 7.6% in the second quarter. Tower Research Capital LLC TRC now owns 965 shares of the company’s stock worth $165,000 after buying an additional 68 shares during the last quarter. Advisor Group Inc. acquired a new position in Boston Beer during the second quarter valued at about $199,000. Squarepoint Ops LLC acquired a new position in Boston Beer during the first quarter valued at about $220,000. Teacher Retirement System of Texas boosted its position in Boston Beer by 12.9% in the second quarter. Teacher Retirement System of Texas now owns 1,267 shares of the company’s stock valued at $217,000 after buying an additional 145 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in Boston Beer during the second quarter valued at about $218,000. Hedge funds and other institutional investors own 65.34% of the company’s stock.
Boston Beer Company Profile
The Boston Beer Company, Inc (Boston Beer) is a craft brewer in the United States. The Company is engaged in the business of producing and selling alcohol beverages primarily in the domestic market and in international markets. The Company operates through two segments: Boston Beer Company segment and A&S Brewing Collaborative segment.
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