Boston Beer Co. (SAM) Stock Rating Lowered by Berenberg Bank
Boston Beer Co. (NYSE:SAM) was downgraded by analysts at Berenberg Bank from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Other equities analysts have also issued reports about the company. Jefferies Group restated a “hold” rating and set a $151.00 target price (up from $145.00) on shares of Boston Beer in a research report on Monday, July 25th. Zacks Investment Research lowered Boston Beer from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. William Blair started coverage on Boston Beer in a research report on Wednesday, September 21st. They issued an “outperform” rating for the company. Cowen and Company lowered Boston Beer from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $170.00 to $128.00 in a research report on Wednesday, September 21st. Finally, Susquehanna reiterated a “neutral” rating on shares of Boston Beer in a research report on Sunday, July 17th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Boston Beer presently has a consensus rating of “Hold” and an average target price of $174.55.
Boston Beer (NYSE:SAM) traded down 5.1845% during trading on Friday, hitting $154.7199. 151,349 shares of the stock were exchanged. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 23.1686 and a beta of 0.64. The firm’s 50 day moving average price is $165.90 and its 200-day moving average price is $168.01. Boston Beer has a 1-year low of $145.33 and a 1-year high of $260.51.
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, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.12. The company earned $244.80 million during the quarter, compared to analyst estimates of $238.87 million. Boston Beer had a return on equity of 19.60% and a net margin of 9.22%. On average, analysts anticipate that Boston Beer will post $6.46 EPS for the current year.
In related news, major shareholder Tybourne Capital Management Hk sold 600 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $186.33, for a total value of $111,798.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Martin F. Roper sold 7,000 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $191.12, for a total value of $1,337,840.00. Following the completion of the sale, the insider now owns 12,273 shares in the company, valued at approximately $2,345,615.76. The disclosure for this sale can be found here. Insiders own 31.30% of the company’s stock.
A number of large investors have recently bought and sold shares of 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 worth $165,000 after buying an additional 68 shares during the period. Advisor Group Inc. acquired a new stake in Boston Beer during the second quarter worth $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 worth $217,000 after buying an additional 145 shares during the period. Diversified Trust Co acquired a new stake in Boston Beer during the second quarter worth $218,000. Finally, Pacad Investment Ltd. acquired a new stake in Boston Beer during the second quarter worth $222,000. Institutional investors and hedge funds own 65.23% of the company’s stock.
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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