Boston Beer Company Inc (NYSE:SAM) has earned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $345.23.
Several brokerages have recently issued reports on SAM. Zacks Investment Research lowered shares of Boston Beer from a “strong-buy” rating to a “hold” rating and set a $415.00 target price on the stock. in a research report on Wednesday, June 26th. Macquarie upgraded shares of Boston Beer from a “neutral” rating to an “outperform” rating and set a $460.00 target price on the stock in a research report on Wednesday, August 7th. Citigroup set a $394.00 target price on shares of Boston Beer and gave the company a “hold” rating in a research report on Friday, July 26th. Credit Suisse Group lifted their target price on shares of Boston Beer from $320.00 to $375.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Guggenheim lifted their target price on shares of Boston Beer from $372.00 to $421.00 and gave the company a “buy” rating in a research report on Friday, July 12th.
SAM traded up $7.16 on Thursday, reaching $409.70. The stock had a trading volume of 153,160 shares, compared to its average volume of 158,600. Boston Beer has a 12-month low of $230.93 and a 12-month high of $411.59. The company has a 50-day moving average price of $387.97. The company has a market cap of $4.88 billion, a P/E ratio of 54.85, a P/E/G ratio of 4.51 and a beta of 0.68.
In related news, Director Jean Michel Valette sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $400.00, for a total transaction of $1,000,000.00. Following the transaction, the director now directly owns 27,258 shares in the company, valued at $10,903,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David L. Grinnell sold 500 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $357.50, for a total transaction of $178,750.00. The disclosure for this sale can be found here. Insiders have sold 5,500 shares of company stock worth $2,130,425 over the last 90 days. 28.40% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Profund Advisors LLC raised its position in Boston Beer by 20.2% during the 2nd quarter. Profund Advisors LLC now owns 982 shares of the company’s stock worth $371,000 after buying an additional 165 shares during the last quarter. MML Investors Services LLC purchased a new position in Boston Beer during the 2nd quarter worth $236,000. Bogle Investment Management L P DE purchased a new position in Boston Beer during the 2nd quarter worth $9,653,000. Alambic Investment Management L.P. purchased a new position in Boston Beer during the 2nd quarter worth $756,000. Finally, Northern Trust Corp raised its position in Boston Beer by 0.6% during the 2nd quarter. Northern Trust Corp now owns 139,369 shares of the company’s stock worth $52,648,000 after buying an additional 766 shares during the last quarter. 70.33% of the stock is currently owned by institutional investors.
About Boston Beer
The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, and hard seltzers under the Samuel Adams, Twisted Tea, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.
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