Boston Beer (SAM) Upgraded to Hold at Berenberg Bank

Boston Beer (NYSE:SAM) was upgraded by equities research analysts at Berenberg Bank from a “sell” rating to a “hold” rating in a report issued on Monday, The Fly reports.

A number of other brokerages have also weighed in on SAM. Jefferies Group restated a “hold” rating on shares of Boston Beer in a research note on Thursday, September 7th. Stifel Nicolaus started coverage on Boston Beer in a research note on Tuesday, December 5th. They issued a “hold” rating and a $166.00 target price on the stock. TheStreet upgraded Boston Beer from a “c+” rating to a “b-” rating in a research note on Thursday, November 2nd. Credit Suisse Group upped their target price on Boston Beer from $150.00 to $151.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Finally, Macquarie started coverage on Boston Beer in a research note on Thursday, September 14th. They issued an “underperform” rating and a $140.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $151.27.

Shares of Boston Beer (NYSE:SAM) opened at $187.45 on Monday. Boston Beer has a one year low of $128.70 and a one year high of $194.30. The stock has a market capitalization of $2,204.41, a price-to-earnings ratio of 25.57, a P/E/G ratio of 6.03 and a beta of 0.57.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Thursday, October 26th. The company reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.79. Boston Beer had a return on equity of 21.11% and a net margin of 9.97%. The company had revenue of $247.04 million for the quarter, compared to analyst estimates of $256.73 million. During the same period in the previous year, the company posted $2.48 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. equities analysts expect that Boston Beer will post 6.22 EPS for the current year.

In other news, VP David L. Grinnell sold 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $186.75, for a total transaction of $186,750.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Jonathan N. Potter sold 439 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $171.90, for a total value of $75,464.10. The disclosure for this sale can be found here. Insiders have sold a total of 2,210 shares of company stock worth $395,983 over the last quarter. Corporate insiders own 31.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Boston Beer by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 748,951 shares of the company’s stock valued at $98,974,000 after purchasing an additional 14,951 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Boston Beer by 4.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 416,414 shares of the company’s stock valued at $65,044,000 after acquiring an additional 18,116 shares during the period. American Century Companies Inc. boosted its holdings in Boston Beer by 16.4% during the 2nd quarter. American Century Companies Inc. now owns 333,995 shares of the company’s stock valued at $44,137,000 after acquiring an additional 47,027 shares during the period. Fisher Asset Management LLC boosted its holdings in Boston Beer by 5.2% during the 3rd quarter. Fisher Asset Management LLC now owns 333,982 shares of the company’s stock valued at $52,168,000 after acquiring an additional 16,431 shares during the period. Finally, State Street Corp boosted its holdings in Boston Beer by 3.7% during the 2nd quarter. State Street Corp now owns 292,523 shares of the company’s stock valued at $38,656,000 after acquiring an additional 10,312 shares during the period. Hedge funds and other institutional investors own 76.06% of the company’s stock.

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About Boston Beer

The Boston Beer Company, Inc 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 selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.

The Fly

Analyst Recommendations for Boston Beer (NYSE:SAM)

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