Insider Selling: Boston Beer Co. (SAM) Insider Sells $1,666,300.00 in Stock
Boston Beer Co. (NYSE:SAM) insider Martin F. Roper sold 10,000 shares of Boston Beer stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $166.63, for a total value of $1,666,300.00. Following the completion of the transaction, the insider now owns 42,273 shares in the company, valued at approximately $7,043,949.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Boston Beer Co. (NYSE:SAM) opened at 158.19 on Tuesday. Boston Beer Co. has a 52 week low of $145.33 and a 52 week high of $260.51. The firm has a 50-day moving average price of $181.29 and a 200 day moving average price 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 released its quarterly earnings results on Thursday, July 21st. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.12. Boston Beer had a return on equity of 19.60% and a net margin of 9.22%. The firm had revenue of $244.80 million for the quarter, compared to analysts’ expectations of $238.87 million. On average, equities research analysts forecast that Boston Beer Co. will post $6.53 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in Boston Beer by 7.6% in the second quarter. Tower Research Capital LLC TRC now owns 965 shares of the company’s stock valued at $165,000 after buying an additional 68 shares during the last quarter. Advisor Group Inc. acquired a new stake in Boston Beer during the second quarter valued at $199,000. Teacher Retirement System of Texas boosted its stake in Boston Beer by 12.9% in the second quarter. Teacher Retirement System of Texas now owns 1,267 shares of the company’s stock valued at $217,000 after buying an additional 145 shares during the last quarter. Diversified Trust Co acquired a new stake in Boston Beer during the second quarter valued at $218,000. Finally, Squarepoint Ops LLC acquired a new stake in Boston Beer during the first quarter valued at $220,000. 65.34% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the company. Jefferies Group reiterated a “hold” rating and issued a $151.00 target price (up previously from $145.00) on shares of Boston Beer in a research report on Monday, July 25th. Zacks Investment Research cut Boston Beer from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Susquehanna restated a “hold” rating on shares of Boston Beer in a report on Monday, August 22nd. Finally, Credit Suisse Group AG initiated coverage on Boston Beer in a report on Thursday, September 15th. They set an “underperform” rating and a $156.00 price target on the stock. Three analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. Boston Beer presently has a consensus rating of “Hold” and a consensus price target of $176.00.
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.