MKM Partners reaffirmed their neutral rating on shares of The Boston Beer (NYSE:SAM) in a research report sent to investors on Friday, Anlyst Ratings reports.
Other analysts have also issued research reports about the stock. Goldman Sachs Group raised their target price on shares of The Boston Beer from $790.00 to $925.00 in a research report on Monday, August 17th. Credit Suisse Group lifted their price target on shares of The Boston Beer from $505.00 to $625.00 and gave the company a neutral rating in a report on Friday, July 24th. Citigroup lifted their price target on shares of The Boston Beer from $815.00 to $1,015.00 and gave the company a buy rating in a report on Wednesday, September 2nd. Royal Bank of Canada reiterated a buy rating and issued a $635.00 price target on shares of The Boston Beer in a report on Monday, July 20th. Finally, Guggenheim lifted their price target on shares of The Boston Beer from $977.00 to $1,142.00 and gave the company a buy rating in a report on Friday, September 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The Boston Beer currently has an average rating of Buy and a consensus target price of $763.00.
Shares of NYSE SAM opened at $1,047.57 on Friday. The Boston Beer has a 1 year low of $290.02 and a 1 year high of $1,092.80. The firm’s 50 day moving average price is $901.14 and its 200 day moving average price is $683.89. The firm has a market cap of $12.79 billion, a P/E ratio of 94.04 and a beta of 1.00.
The Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, October 22nd. The company reported $6.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.24 by $1.27. The Boston Beer had a net margin of 9.18% and a return on equity of 17.51%. The firm had revenue of $492.80 million for the quarter, compared to analyst estimates of $520.93 million. During the same quarter last year, the business earned $3.27 earnings per share. The Boston Beer’s revenue was up 30.0% compared to the same quarter last year. Analysts anticipate that The Boston Beer will post 13.35 EPS for the current fiscal year.
In related news, VP Tara L. Heath sold 100 shares of The Boston Beer stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $1,009.00, for a total transaction of $100,900.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder C James Koch sold 6,090 shares of The Boston Beer stock in a transaction on Friday, September 4th. The stock was sold at an average price of $778.17, for a total transaction of $4,739,055.30. The disclosure for this sale can be found here. In the last three months, insiders sold 79,423 shares of company stock worth $66,091,269. Insiders own 29.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. grew its holdings in The Boston Beer by 5.5% during the 3rd quarter. Xponance Inc. now owns 1,870 shares of the company’s stock worth $1,652,000 after acquiring an additional 98 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in The Boston Beer during the 3rd quarter worth $58,000. Sequoia Financial Advisors LLC acquired a new position in The Boston Beer during the 3rd quarter worth $230,000. CENTRAL TRUST Co acquired a new position in The Boston Beer during the 3rd quarter worth $270,000. Finally, NEXT Financial Group Inc acquired a new position in The Boston Beer during the 3rd quarter worth $158,000. 70.66% of the stock is currently owned by hedge funds and other institutional investors.
About The Boston Beer
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.
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