Boston Beer Co. (SAM) Downgraded by Cowen and Company to Underperform
Other equities analysts have also recently issued reports about the stock. Susquehanna reaffirmed a hold rating on shares of Boston Beer in a report on Monday, August 22nd. Jefferies Group reaffirmed a hold rating on shares of Boston Beer in a report on Wednesday, August 10th. Zacks Investment Research raised shares of Boston Beer from a strong sell rating to a hold rating in a report on Tuesday, June 28th. William Blair initiated coverage on shares of Boston Beer in a report on Wednesday. They issued an outperform rating on the stock. Finally, Credit Suisse Group AG initiated coverage on shares of Boston Beer in a research report on Thursday, September 15th. They issued an underperform rating and a $156.00 price objective on the stock. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Boston Beer presently has an average rating of Hold and a consensus target price of $176.00.
Boston Beer (NYSE:SAM) traded up 1.56% during trading on Wednesday, reaching $153.42. 33,084 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 22.97 and a beta of 0.69. Boston Beer has a 52 week low of $145.33 and a 52 week high of $260.51. The stock has a 50-day moving average price of $179.64 and a 200 day moving average price of $171.28.
Boston Beer (NYSE:SAM) last announced its earnings results on Thursday, July 21st. The company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The business had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $238.87 million. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. Equities research analysts forecast that Boston Beer will post $6.52 earnings per share for the current fiscal year.
In other news, insider Martin F. Roper sold 5,000 shares of Boston Beer stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $153.72, for a total transaction of $768,600.00. Following the completion of the transaction, the insider now owns 37,273 shares of the company’s stock, valued at approximately $5,729,605.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David L. Grinnell sold 1,000 shares of Boston Beer stock in a transaction on Thursday, July 21st. The stock was 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. Insiders own 31.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tybourne Capital Management HK Ltd. increased its position in Boston Beer by 37.4% in the first quarter. Tybourne Capital Management HK Ltd. now owns 759,411 shares of the company’s stock valued at $140,544,000 after buying an additional 206,716 shares during the period. Vanguard Group Inc. increased its position in Boston Beer by 1.7% in the second quarter. Vanguard Group Inc. now owns 676,685 shares of the company’s stock valued at $115,734,000 after buying an additional 11,328 shares during the period. BlackRock Fund Advisors increased its position in Boston Beer by 0.3% in the second quarter. BlackRock Fund Advisors now owns 452,873 shares of the company’s stock valued at $77,455,000 after buying an additional 1,534 shares during the period. Fisher Asset Management LLC increased its position in Boston Beer by 0.3% in the second quarter. Fisher Asset Management LLC now owns 345,673 shares of the company’s stock valued at $59,024,000 after buying an additional 950 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Boston Beer by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 332,033 shares of the company’s stock valued at $56,788,000 after buying an additional 18,034 shares during the period. 65.23% of the stock is owned by institutional investors and hedge funds.
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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