William Blair Begins Coverage on Boston Beer Co. (SAM)
Equities researchers at William Blair assumed coverage on shares of Boston Beer Co. (NYSE:SAM) in a research note issued on Wednesday. The firm set an “outperform” rating on the stock.
A number of other brokerages also recently issued reports on SAM. 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 on the stock. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Boston Beer presently has an average rating of “Hold” and an average price target of $176.00.
Shares of Boston Beer (NYSE:SAM) opened at 153.40 on Wednesday. Boston Beer has a 12 month low of $145.33 and a 12 month high of $260.51. The company has a market cap of $1.89 billion, a P/E ratio of 22.97 and a beta of 0.69. The stock’s 50 day moving average price is $180.47 and its 200-day moving average price is $171.43.
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Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm had revenue of $244.80 million for 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%. Equities research analysts expect that Boston Beer will post $6.53 earnings per share for the current year.
In other Boston Beer news, VP David L. Grinnell sold 1,000 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $164.81, for a total value of $164,810.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Martin F. Roper sold 7,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 12,273 shares of the company’s stock, valued at approximately $2,345,615.76. The disclosure for this sale can be found here. 31.30% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake 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 stake in Boston Beer during the second quarter valued at about $199,000. Teacher Retirement System of Texas boosted its stake 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 in the last quarter. Diversified Trust Co acquired a new stake in Boston Beer during the second quarter valued at about $218,000. Finally, Squarepoint Ops LLC acquired a new stake in Boston Beer during the first quarter valued at about $220,000. Institutional investors and hedge funds own 65.23% of the company’s stock.
About Boston Beer
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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