William Blair Initiates Coverage on Boston Beer Co. (SAM)
Equities research analysts at William Blair started coverage on shares of Boston Beer Co. (NYSE:SAM) in a research report issued to clients and investors on Wednesday. The firm set an “outperform” rating on the stock.
Several other research firms have also recently commented on SAM. Zacks Investment Research cut Boston Beer from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Jefferies Group reissued a “hold” rating and issued a $151.00 target price (up from $145.00) on shares of Boston Beer in a research note on Monday, July 25th. Susquehanna reissued a “hold” rating on shares of Boston Beer in a research note on Monday, August 22nd. Finally, Credit Suisse Group AG started coverage on Boston Beer in a research note on Thursday, September 15th. They issued an “underperform” rating and a $156.00 target price for the company. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $176.00.
Shares of Boston Beer (NYSE:SAM) traded down 2.54% during midday trading on Wednesday, reaching $149.50. The company had a trading volume of 267,517 shares. The company’s 50-day moving average is $180.47 and its 200-day moving average is $171.43. The firm has a market cap of $1.84 billion, a P/E ratio of 22.39 and a beta of 0.69. Boston Beer has a 52-week low of $145.33 and a 52-week high of $260.51.
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Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 21st. The company reported $2.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.12. The company earned $244.80 million during the quarter, compared to analysts’ expectations 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 EPS for the current fiscal year.
In other news, insider Martin F. Roper sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $164.69, for a total value of $823,450.00. Following the sale, the insider now directly owns 37,273 shares in the company, valued at $6,138,490.37. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David L. Grinnell sold 1,000 shares of the business’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $164.81, for a total value of $164,810.00. The disclosure for this sale can be found here. 31.30% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of SAM. Legal & General Group Plc raised its stake in shares of Boston Beer by 8.6% in the first quarter. Legal & General Group Plc now owns 2,204 shares of the company’s stock worth $408,000 after buying an additional 175 shares during the period. Invictus RG raised its stake in shares of Boston Beer by 3.6% in the first quarter. Invictus RG now owns 1,392 shares of the company’s stock worth $258,000 after buying an additional 49 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Boston Beer by 124.7% in the first quarter. Goldman Sachs Group Inc. now owns 51,809 shares of the company’s stock worth $9,588,000 after buying an additional 28,751 shares during the period. Credit Agricole S A raised its stake in shares of Boston Beer by 8.9% in the first quarter. Credit Agricole S A now owns 6,039 shares of the company’s stock worth $1,118,000 after buying an additional 491 shares during the period. Finally, Champlain Investment Partners LLC raised its stake in shares of Boston Beer by 42.8% in the first quarter. Champlain Investment Partners LLC now owns 248,037 shares of the company’s stock worth $45,904,000 after buying an additional 74,349 shares during the period. Institutional investors own 65.23% 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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