Insider Selling: Boston Beer Co. (SAM) Insider Sells 5,000 Shares of Stock
Boston Beer Co. (NYSE:SAM) insider Martin F. Roper sold 5,000 shares of the business’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $150.97, for a total transaction of $754,850.00. Following the completion of the sale, the insider now directly owns 37,273 shares of the company’s stock, valued at $5,627,104.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Boston Beer Co. (NYSE:SAM) opened at 155.26 on Friday. Boston Beer Co. has a 1-year low of $145.33 and a 1-year high of $260.51. The firm has a 50-day moving average of $173.89 and a 200-day moving average of $169.78. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 23.25 and a beta of 0.69.
Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 21st. The company reported $2.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.12. The firm earned $244.80 million during the quarter, compared to analysts’ expectations of $238.87 million. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. On average, analysts expect that Boston Beer Co. will post $6.46 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in Boston Beer during the fourth quarter worth approximately $13,347,000. Teachers Advisors Inc. raised its position in Boston Beer by 1.8% in the first quarter. Teachers Advisors Inc. now owns 13,580 shares of the company’s stock worth $2,513,000 after buying an additional 242 shares in the last quarter. Algert Global LLC purchased a new position in Boston Beer during the first quarter worth approximately $414,000. BlackRock Inc. raised its position in Boston Beer by 4.8% in the first quarter. BlackRock Inc. now owns 3,684 shares of the company’s stock worth $682,000 after buying an additional 168 shares in the last quarter. Finally, BlackRock Group LTD raised its position in Boston Beer by 25.5% in the first quarter. BlackRock Group LTD now owns 5,832 shares of the company’s stock worth $1,079,000 after buying an additional 1,184 shares in the last quarter. Hedge funds and other institutional investors own 65.23% of the company’s stock.
A number of equities research analysts recently weighed in on SAM shares. Credit Suisse Group AG started coverage on shares of Boston Beer in a research report on Thursday, September 15th. They issued an “underperform” rating and a $156.00 price target for the company. Susquehanna reissued a “hold” rating on shares of Boston Beer in a research report on Monday, August 22nd. Cowen and Company cut shares of Boston Beer from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $170.00 to $128.00 in a research report on Wednesday, September 21st. Jefferies Group reissued a “hold” rating on shares of Boston Beer in a research report on Wednesday, August 10th. Finally, William Blair started coverage on shares of Boston Beer in a research report on Wednesday, September 21st. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $173.91.
Boston Beer Company Profile
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.
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