Boston Beer Co. (SAM) Trading Down 2.3% Following Insider Selling
Shares of Boston Beer Co. (NYSE:SAM) traded down 2.3% during mid-day trading on Monday following insider selling activity. The stock traded as low as $157.62 and last traded at $158.50, with a volume of 107,923 shares. The stock had previously closed at $162.15.
Specifically, VP David L. Grinnell sold 1,000 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $164.81, for a total transaction of $164,810.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Martin F. Roper sold 7,000 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $191.12, for a total value of $1,337,840.00. Following the transaction, the insider now owns 12,273 shares in the company, valued at $2,345,615.76. The disclosure for this sale can be found here. Insiders own 31.30% of the company’s stock.
Several equities analysts have recently commented on the company. Jefferies Group reiterated a “hold” rating and set a $151.00 price objective (up from $145.00) on shares of Boston Beer in a research report on Monday, July 25th. Zacks Investment Research lowered Boston Beer from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. Susquehanna restated a “hold” rating on shares of Boston Beer in a research report on Monday, August 22nd. Finally, Credit Suisse Group AG started coverage on Boston Beer in a research report on Thursday, September 15th. They set an “underperform” rating and a $156.00 price target on the stock. Three research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $176.00.
The firm has a 50 day moving average of $181.29 and a 200-day moving average of $171.76. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 23.69 and a beta of 0.69.
Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.12. The firm earned $244.80 million during the quarter, compared to analyst estimates of $238.87 million. Boston Beer had a return on equity of 19.60% and a net margin of 9.22%. On average, equities analysts forecast that Boston Beer Co. will post $6.53 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Boston Beer during the fourth quarter worth about $13,347,000. Fisher Asset Management LLC raised its stake in shares of Boston Beer by 20.0% in the first quarter. Fisher Asset Management LLC now owns 344,723 shares of the company’s stock worth $61,985,000 after buying an additional 57,532 shares during the last quarter. Profit Investment Management LLC raised its stake in shares of Boston Beer by 30.0% in the first quarter. Profit Investment Management LLC now owns 6,749 shares of the company’s stock worth $1,249,000 after buying an additional 1,558 shares during the last quarter. Nepsis Capital Management Inc. raised its stake in shares of Boston Beer by 16.6% in the first quarter. Nepsis Capital Management Inc. now owns 19,492 shares of the company’s stock worth $3,607,000 after buying an additional 2,769 shares during the last quarter. Finally, Apex Capital Management raised its stake in shares of Boston Beer by 19.2% in the first quarter. Apex Capital Management now owns 54,898 shares of the company’s stock worth $10,160,000 after buying an additional 8,830 shares during the last quarter. Hedge funds and other institutional investors own 65.34% of the company’s stock.
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.
Receive News & Ratings for Boston Beer Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Beer Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.