The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) has been assigned an average rating of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $307.75.
Several analysts have recently issued reports on SAM shares. Sanford C. Bernstein lowered shares of Boston Beer from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $320.00 to $255.00 in a research note on Thursday, February 16th. Roth Mkm upgraded shares of Boston Beer from a “neutral” rating to a “buy” rating and upped their target price for the stock from $274.00 to $386.00 in a research note on Tuesday, May 30th. UBS Group cut their price target on shares of Boston Beer from $364.00 to $349.00 in a report on Friday, April 28th. Credit Suisse Group cut their price target on shares of Boston Beer from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. Finally, Royal Bank of Canada boosted their price target on shares of Boston Beer from $300.00 to $311.00 in a report on Friday, April 28th.
Boston Beer Stock Performance
Boston Beer stock opened at $332.38 on Thursday. The firm has a 50 day moving average price of $321.12 and a two-hundred day moving average price of $338.80. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 68.39 and a beta of 1.08. Boston Beer has a 52-week low of $287.00 and a 52-week high of $422.75.
Insider Activity
In other news, CEO David A. Burwick sold 1,644 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $326.38, for a total transaction of $536,568.72. Following the sale, the chief executive officer now directly owns 47,910 shares in the company, valued at $15,636,865.80. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO David A. Burwick sold 1,644 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $326.38, for a total value of $536,568.72. Following the transaction, the chief executive officer now directly owns 47,910 shares in the company, valued at $15,636,865.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John C. Geist sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $341.35, for a total transaction of $3,413,500.00. Following the completion of the transaction, the insider now owns 5,573 shares in the company, valued at $1,902,343.55. The disclosure for this sale can be found here. Company insiders own 23.50% of the company’s stock.
Institutional Trading of Boston Beer
Institutional investors have recently made changes to their positions in the stock. Brandywine Global Investment Management LLC lifted its position in Boston Beer by 22.6% during the first quarter. Brandywine Global Investment Management LLC now owns 10,078 shares of the company’s stock valued at $3,313,000 after buying an additional 1,856 shares during the period. Southeastern Asset Management Inc. TN bought a new stake in Boston Beer in the 1st quarter worth about $35,680,000. State Street Corp increased its holdings in Boston Beer by 2.4% in the 1st quarter. State Street Corp now owns 260,052 shares of the company’s stock worth $85,479,000 after buying an additional 6,185 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Boston Beer by 14.7% in the first quarter. Steward Partners Investment Advisory LLC now owns 281 shares of the company’s stock worth $92,000 after purchasing an additional 36 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Boston Beer by 3.0% in the first quarter. Geode Capital Management LLC now owns 130,842 shares of the company’s stock worth $43,008,000 after purchasing an additional 3,815 shares during the last quarter. Hedge funds and other institutional investors own 68.72% of the company’s stock.
About Boston Beer
Boston Beer Co, Inc engages in the production of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head Craft Brewery. Boston Beer produces alcohol beverages, including hard seltzer, malt beverages (“beers“), and hard cider at company-owned breweries and its cidery, and under contract arrangements at other brewery locations.
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