Insider Selling: The Boston Beer Company, Inc. (NYSE:SAM) Insider Sells 62 Shares of Stock

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $288.86, for a total transaction of $17,909.32. Following the completion of the sale, the insider now owns 6,841 shares of the company’s stock, valued at approximately $1,976,091.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Boston Beer Price Performance

SAM stock traded down $4.27 during mid-day trading on Wednesday, reaching $283.83. 29,777 shares of the company’s stock were exchanged, compared to its average volume of 161,411. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 36.15, a price-to-earnings-growth ratio of 1.16 and a beta of 1.05. The Boston Beer Company, Inc. has a 12-month low of $254.40 and a 12-month high of $393.65. The stock’s 50 day moving average is $276.00 and its 200 day moving average is $283.90.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a net margin of 4.39% and a return on equity of 9.69%. Boston Beer’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.72 EPS. On average, research analysts forecast that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on SAM. Roth Mkm decreased their price target on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Piper Sandler cut their target price on Boston Beer from $344.00 to $325.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada cut their price objective on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating on the stock in a report on Friday, July 26th. StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, Morgan Stanley upgraded shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price objective on the stock in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $326.92.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Treasurer of the State of North Carolina increased its stake in Boston Beer by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 4,167 shares of the company’s stock worth $1,440,000 after buying an additional 40 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Boston Beer by 0.5% in the second quarter. Los Angeles Capital Management LLC now owns 14,729 shares of the company’s stock valued at $4,493,000 after buying an additional 74 shares during the last quarter. Gagnon Securities LLC lifted its stake in Boston Beer by 0.5% in the 1st quarter. Gagnon Securities LLC now owns 16,893 shares of the company’s stock worth $5,143,000 after purchasing an additional 80 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Boston Beer by 61.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock valued at $75,000 after purchasing an additional 95 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in Boston Beer during the first quarter worth approximately $28,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.