Berenberg Bank lowered shares of Boston Beer Co. (NYSE:SAM) from a hold rating to a sell rating in a research note published on Friday morning. Berenberg Bank currently has $135.00 target price on the stock.
Other equities research analysts also recently issued reports about the stock. Jefferies Group reissued 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 downgraded shares of Boston Beer from a hold rating to a sell rating in a research report on Monday, July 25th. William Blair assumed coverage on shares of Boston Beer in a research report on Wednesday, September 21st. They set an outperform rating for the company. Cowen and Company downgraded shares of Boston Beer from a market perform rating to an underperform rating and decreased their target price for the stock from $170.00 to $128.00 in a research report on Wednesday, September 21st. Finally, Susquehanna reissued a neutral rating on shares of Boston Beer in a research report on Sunday, July 17th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $174.09.
Shares of Boston Beer (NYSE:SAM) opened at 158.10 on Friday. Boston Beer has a 12 month low of $145.33 and a 12 month high of $260.51. The firm’s 50-day moving average is $162.91 and its 200 day moving average is $167.09. The firm has a market capitalization of $1.95 billion, a P/E ratio of 23.67 and a beta of 0.64.
Boston Beer (NYSE:SAM) last posted its earnings results on Thursday, July 21st. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.94 by $0.12. The company earned $244.80 million during the quarter, compared to the consensus estimate of $238.87 million. Boston Beer had a net margin of 9.22% and a return on equity of 19.60%. On average, equities research analysts anticipate that Boston Beer will post $6.46 EPS for the current year.
In related news, VP David L. Grinnell sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $164.81, for a total transaction of $164,810.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tybourne Capital Management Hk sold 600 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $186.33, for a total transaction of $111,798.00. The disclosure for this sale can be found here. Corporate insiders own 31.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position 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 last quarter. Advisor Group Inc. purchased a new position in Boston Beer during the second quarter worth $199,000. Teacher Retirement System of Texas raised its position 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 last quarter. Diversified Trust Co purchased a new position in Boston Beer during the second quarter worth $218,000. Finally, Pacad Investment Ltd. purchased a new position in Boston Beer during the second quarter worth $222,000. Institutional investors and hedge funds own 65.04% of the company’s stock.
About Boston Beer
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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