Boston Beer (SAM) to Release Quarterly Earnings on Thursday

Boston Beer (NYSE:SAM) will post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Boston Beer to post earnings of $0.09 per share for the quarter. Boston Beer has set its FY24 guidance at $7.00 to $11.00 EPS and its FY 2024 guidance at 7.000-11.000 EPS.

Boston Beer (NYSE:SAM) last issued its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($1.27). The firm had revenue of $393.72 million during the quarter, compared to the consensus estimate of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.93) earnings per share. On average, analysts expect Boston Beer to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Boston Beer Stock Up 0.7 %

NYSE SAM traded up $2.11 during trading on Friday, hitting $286.98. 136,310 shares of the stock traded hands, compared to its average volume of 126,886. Boston Beer has a 12-month low of $274.78 and a 12-month high of $395.52. The firm has a 50-day simple moving average of $310.43 and a 200-day simple moving average of $336.40. The company has a market capitalization of $3.45 billion, a P/E ratio of 46.29, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02.

Insider Buying and Selling

In other news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Carolyn L. O’boyle sold 101 shares of Boston Beer stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $303.49, for a total transaction of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Carolyn L. O’boyle sold 102 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the sale, the insider now owns 2,630 shares of the company’s stock, valued at approximately $922,393.60. The disclosure for this sale can be found here. 23.30% of the stock is owned by insiders.

Institutional Trading of Boston Beer

Several hedge funds have recently modified their holdings of SAM. Southeastern Asset Management Inc. TN bought a new position in shares of Boston Beer during the 1st quarter worth approximately $35,680,000. Loomis Sayles & Co. L P acquired a new position in shares of Boston Beer during the first quarter worth $38,859,000. Millennium Management LLC purchased a new stake in shares of Boston Beer during the 2nd quarter valued at $18,690,000. Wellington Management Group LLP boosted its position in shares of Boston Beer by 119.6% in the 1st quarter. Wellington Management Group LLP now owns 92,524 shares of the company’s stock worth $35,943,000 after purchasing an additional 50,384 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Boston Beer by 3,954.5% during the 1st quarter. Federated Hermes Inc. now owns 51,168 shares of the company’s stock worth $19,877,000 after buying an additional 49,906 shares during the last quarter. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SAM has been the topic of several research reports. Morgan Stanley reduced their price target on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada restated a “sector perform” rating and set a $337.00 target price on shares of Boston Beer in a research report on Wednesday, February 28th. Piper Sandler initiated coverage on Boston Beer in a research report on Friday, March 22nd. They issued an “overweight” rating and a $350.00 price target for the company. Roth Mkm raised their target price on shares of Boston Beer from $406.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Sanford C. Bernstein upgraded Boston Beer from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $280.00 to $335.00 in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $334.86.

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.