UBS Group set a $260.00 price target on Boston Beer (NYSE:SAM) in a research report report published on Friday, TipRanks reports. The firm currently has a sell rating on the stock.
A number of other research analysts have also recently issued reports on the stock. 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 note on Friday, July 12th. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a buy rating to a hold rating in a report on Wednesday, June 26th. ValuEngine lowered shares of Ultrapar Participacoes from a sell rating to a strong sell rating in a report on Thursday, April 25th. Macquarie raised their price target on shares of Boston Beer from $325.00 to $365.00 and gave the company a neutral rating in a report on Friday, May 10th. Finally, Credit Suisse Group lowered shares of Air China from a neutral rating to an underperform rating in a report on Monday, June 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $307.98.
Shares of NYSE:SAM traded down $8.05 during trading on Friday, reaching $385.80. The stock had a trading volume of 163,162 shares, compared to its average volume of 151,591. Boston Beer has a 52 week low of $230.93 and a 52 week high of $401.05. The firm has a 50-day simple moving average of $360.81. The company has a market cap of $4.59 billion, a PE ratio of 51.65, a PEG ratio of 4.51 and a beta of 0.68.
Boston Beer (NYSE:SAM) last posted its earnings results on Wednesday, April 24th. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.98. Boston Beer had a net margin of 9.94% and a return on equity of 23.00%. The company had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $232.19 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. Boston Beer’s quarterly revenue was up 32.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Boston Beer will post 8.59 EPS for the current year.
In other Boston Beer news, VP David L. Grinnell sold 500 shares of Boston Beer stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $357.50, for a total transaction of $178,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David L. Grinnell sold 1,000 shares of Boston Beer stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $331.25, for a total transaction of $331,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,105 shares of company stock valued at $2,230,975 in the last ninety days. Company insiders own 28.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. 6 Meridian grew its holdings in shares of Boston Beer by 1.3% in the 2nd quarter. 6 Meridian now owns 2,038 shares of the company’s stock valued at $770,000 after buying an additional 27 shares during the period. Retirement Systems of Alabama lifted its position in Boston Beer by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 11,377 shares of the company’s stock worth $4,298,000 after buying an additional 42 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Boston Beer by 1.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,950 shares of the company’s stock worth $869,000 after buying an additional 50 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in Boston Beer by 1.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 3,468 shares of the company’s stock worth $1,310,000 after buying an additional 50 shares in the last quarter. Finally, Cardinal Capital Management lifted its position in Boston Beer by 1.7% during the 1st quarter. Cardinal Capital Management now owns 3,260 shares of the company’s stock worth $960,000 after buying an additional 56 shares in the last quarter. 73.77% of the stock is owned by institutional investors.
Boston Beer Company Profile
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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