The Boston Beer Company, Inc. (NYSE:SAM) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $448.60 and last traded at $452.95, with a volume of 4878 shares changing hands. The stock had previously closed at $464.33.
SAM has been the topic of several recent analyst reports. Royal Bank of Canada cut their price objective on shares of Boston Beer from $1,134.00 to $627.00 and set an “outperform” rating on the stock in a report on Thursday, September 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Boston Beer from $564.00 to $492.00 and set a “hold” rating on the stock in a report on Friday, October 22nd. Cowen downgraded shares of Boston Beer from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $825.00 to $400.00 in a report on Wednesday, August 25th. Evercore ISI cut their price target on shares of Boston Beer from $950.00 to $700.00 and set an “outperform” rating on the stock in a report on Thursday, September 9th. Finally, The Goldman Sachs Group cut their price target on shares of Boston Beer from $875.00 to $750.00 and set a “neutral” rating on the stock in a report on Wednesday, August 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $797.80.
The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 57.62 and a beta of 0.70. The business’s 50 day moving average price is $501.36 and its 200 day moving average price is $722.00.
Boston Beer (NYSE:SAM) last announced its earnings results on Wednesday, October 20th. The company reported ($1.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.60 by ($6.47). Boston Beer had a net margin of 4.49% and a return on equity of 17.98%. The business had revenue of $561.64 million for the quarter, compared to analysts’ expectations of $496.90 million. During the same quarter last year, the business earned $6.10 EPS. As a group, sell-side analysts anticipate that The Boston Beer Company, Inc. will post 4.39 EPS for the current year.
In other news, insider Samuel A. Calagione III sold 20,503 shares of the stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $499.18, for a total transaction of $10,234,687.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 24.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Bbva USA purchased a new position in Boston Beer in the 2nd quarter valued at $28,000. Jacobi Capital Management LLC raised its holdings in shares of Boston Beer by 220.0% during the 2nd quarter. Jacobi Capital Management LLC now owns 32 shares of the company’s stock worth $33,000 after acquiring an additional 22 shares during the period. Tsfg LLC purchased a new position in shares of Boston Beer during the 2nd quarter worth $39,000. SRS Capital Advisors Inc. purchased a new position in shares of Boston Beer during the 2nd quarter worth $51,000. Finally, West Branch Capital LLC purchased a new position in shares of Boston Beer during the 2nd quarter worth $51,000. Institutional investors own 71.54% of the company’s stock.
Boston Beer Company Profile (NYSE:SAM)
Boston Beer Co, Inc engages in the business of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head, and Craft Brewery. The company was founded by C. James Koch in 1984 and is headquartered in Boston, MA.
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