Boston Beer (NYSE:SAM) Price Target Lowered to $440.00 at MKM Partners

Boston Beer (NYSE:SAM) had its target price reduced by MKM Partners from $475.00 to $440.00 in a research note released on Friday morning, The Fly reports.

A number of other research analysts also recently issued reports on the company. UBS Group reduced their price target on Boston Beer from $775.00 to $700.00 and set a buy rating on the stock in a report on Friday, October 22nd. They noted that the move was a valuation call. TheStreet downgraded Boston Beer from a b- rating to a c rating in a report on Monday, October 25th. Cowen upgraded Boston Beer from an underperform rating to a market perform rating and boosted their price target for the company from $400.00 to $500.00 in a report on Monday, December 6th. Credit Suisse Group reduced their price target on Boston Beer from $935.00 to $785.00 and set an outperform rating on the stock in a report on Friday. Finally, Zacks Investment Research upgraded Boston Beer from a hold rating to a buy rating and set a $543.00 price target on the stock in a report on Tuesday, December 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Boston Beer currently has an average rating of Buy and a consensus price target of $764.87.

SAM opened at $449.33 on Friday. The company has a market cap of $5.52 billion, a P/E ratio of 56.95 and a beta of 0.72. The business’s 50-day moving average price is $492.39 and its 200-day moving average price is $591.12. Boston Beer has a 12 month low of $428.13 and a 12 month high of $1,349.98.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Wednesday, October 20th. The company reported ($1.87) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($6.47). The company had revenue of $561.64 million during the quarter, compared to analysts’ expectations of $496.90 million. Boston Beer had a return on equity of 17.98% and a net margin of 4.49%. During the same quarter in the prior year, the firm posted $6.10 EPS. Analysts expect that Boston Beer will post 16.41 earnings per share for the current year.

In other news, insider John C. Geist sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $512.48, for a total value of $3,074,880.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Samuel A. Calagione III sold 20,503 shares of the business’s stock in a transaction that occurred on Tuesday, October 26th. The stock was sold at an average price of $499.18, for a total value of $10,234,687.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,188 shares of company stock worth $14,152,068. Insiders own 24.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Diversified Trust Co lifted its position in Boston Beer by 10.8% in the 4th quarter. Diversified Trust Co now owns 1,025 shares of the company’s stock valued at $518,000 after acquiring an additional 100 shares in the last quarter. Stonnington Group LLC bought a new position in Boston Beer in the 4th quarter valued at approximately $706,000. FNY Investment Advisers LLC bought a new position in Boston Beer in the 4th quarter valued at approximately $25,000. UBS Asset Management Americas Inc. lifted its position in Boston Beer by 2.7% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 20,965 shares of the company’s stock valued at $10,687,000 after acquiring an additional 551 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in Boston Beer by 45.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 477 shares of the company’s stock valued at $243,000 after acquiring an additional 148 shares in the last quarter. 65.46% of the stock is currently owned by hedge funds and other institutional investors.

Boston Beer Company Profile

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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