The Boston Beer (NYSE:SAM) had its target price boosted by Deutsche Bank Aktiengesellschaft from $656.00 to $835.00 in a report released on Thursday morning, The Fly reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.
Several other analysts have also issued reports on SAM. MKM Partners increased their target price on The Boston Beer from $353.00 to $780.00 and gave the stock a neutral rating in a report on Thursday, September 3rd. Royal Bank of Canada reissued a buy rating and set a $635.00 target price on shares of The Boston Beer in a report on Monday, July 20th. Citigroup raised their price objective on The Boston Beer from $815.00 to $1,015.00 and gave the company a buy rating in a research note on Wednesday, September 2nd. Goldman Sachs Group raised their price objective on The Boston Beer from $790.00 to $925.00 in a research note on Monday, August 17th. Finally, Credit Suisse Group raised their price objective on The Boston Beer from $505.00 to $625.00 and gave the company a neutral rating in a research note on Friday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The Boston Beer presently has a consensus rating of Buy and an average price target of $720.85.
SAM opened at $946.84 on Thursday. The firm has a market cap of $11.56 billion, a P/E ratio of 84.99 and a beta of 1.00. The Boston Beer has a 52-week low of $290.02 and a 52-week high of $986.78. The business’s fifty day moving average is $876.90 and its 200-day moving average is $653.03.
The Boston Beer (NYSE:SAM) last released its earnings results on Thursday, July 23rd. The company reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $2.68. The company had revenue of $452.14 million for the quarter, compared to analyst estimates of $418.75 million. The Boston Beer had a return on equity of 17.51% and a net margin of 9.18%. As a group, equities analysts anticipate that The Boston Beer will post 13.17 EPS for the current year.
In other news, Director Cynthia A. Fisher sold 2,660 shares of The Boston Beer stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $920.50, for a total transaction of $2,448,530.00. Following the sale, the director now directly owns 400 shares of the company’s stock, valued at $368,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder C James Koch sold 10,000 shares of The Boston Beer stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $879.36, for a total value of $8,793,600.00. The disclosure for this sale can be found here. Insiders have sold 80,554 shares of company stock worth $66,976,511 over the last three months. Insiders own 29.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SAM. Man Group plc raised its position in shares of The Boston Beer by 138.9% during the second quarter. Man Group plc now owns 95,299 shares of the company’s stock worth $51,142,000 after acquiring an additional 55,413 shares during the last quarter. APG Asset Management N.V. bought a new position in shares of The Boston Beer during the first quarter worth about $12,993,000. The Manufacturers Life Insurance Company raised its position in shares of The Boston Beer by 159.6% during the first quarter. The Manufacturers Life Insurance Company now owns 46,064 shares of the company’s stock worth $16,932,000 after acquiring an additional 28,322 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of The Boston Beer by 304.5% during the second quarter. Russell Investments Group Ltd. now owns 28,952 shares of the company’s stock worth $15,678,000 after acquiring an additional 21,795 shares during the last quarter. Finally, FMR LLC raised its position in shares of The Boston Beer by 29.0% during the first quarter. FMR LLC now owns 90,102 shares of the company’s stock worth $26,555,000 after acquiring an additional 20,259 shares during the last quarter. Institutional investors own 70.66% of the company’s stock.
The Boston Beer Company Profile
The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, and hard seltzers under the Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach, Wild Leaf, and Tura brand names.
Further Reading: Pattern Day Trader
Receive News & Ratings for The Boston Beer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Boston Beer and related companies with MarketBeat.com's FREE daily email newsletter.