Boston Beer (NYSE:SAM) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $424.00 target price on the stock, up from their previous target price of $346.00. Royal Bank of Canada’s price objective suggests a potential upside of 23.29% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Zacks Investment Research upgraded Boston Beer from a “hold” rating to a “strong-buy” rating and set a $470.00 price objective for the company in a research report on Tuesday, February 18th. Deutsche Bank boosted their price objective on Boston Beer from $403.00 to $424.00 and gave the company a “hold” rating in a research report on Friday, February 14th. ValuEngine upgraded Boston Beer from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Cowen boosted their price target on Boston Beer from $450.00 to $495.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, UBS Group upgraded Boston Beer from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $415.00 to $440.00 in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $424.52.
NYSE:SAM opened at $343.91 on Monday. Boston Beer has a 12-month low of $258.34 and a 12-month high of $444.64. The firm has a market capitalization of $3.72 billion, a P/E ratio of 37.59 and a beta of 0.68. The business has a 50 day simple moving average of $371.09 and a 200 day simple moving average of $374.73.
Boston Beer (NYSE:SAM) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.42 by ($0.18). Boston Beer had a net margin of 8.80% and a return on equity of 17.62%. The company had revenue of $301.30 million for the quarter, compared to analyst estimates of $277.08 million. As a group, sell-side analysts forecast that Boston Beer will post 11.53 EPS for the current fiscal year.
In other news, insider Samuel A. Calagione III sold 25,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $367.27, for a total value of $9,181,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman C James Koch sold 4,495 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $380.02, for a total value of $1,708,189.90. The disclosure for this sale can be found here. Insiders have sold a total of 85,711 shares of company stock valued at $32,742,528 in the last quarter. 28.40% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in shares of Boston Beer by 52.3% in the 4th quarter. Macquarie Group Ltd. now owns 179,128 shares of the company’s stock worth $67,683,000 after buying an additional 61,512 shares in the last quarter. Norges Bank bought a new stake in shares of Boston Beer in the 4th quarter worth $34,301,000. Sunbelt Securities Inc. raised its stake in shares of Boston Beer by 33.9% in the 4th quarter. Sunbelt Securities Inc. now owns 774 shares of the company’s stock worth $292,000 after buying an additional 196 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Boston Beer by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 135,638 shares of the company’s stock worth $51,250,000 after buying an additional 8,948 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in shares of Boston Beer by 1.8% in the 4th quarter. Mason Street Advisors LLC now owns 4,902 shares of the company’s stock worth $1,852,000 after buying an additional 85 shares in the last quarter. 72.33% of the stock is currently 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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