Boston Beer Company Inc (NYSE:SAM) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 809,000 shares, a decrease of 9.6% from the August 31st total of 894,600 shares. Currently, 8.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 165,500 shares, the short-interest ratio is presently 4.9 days.
SAM stock traded up $6.68 during midday trading on Friday, hitting $880.10. The stock had a trading volume of 91,310 shares, compared to its average volume of 160,491. The firm has a market cap of $10.75 billion, a P/E ratio of 79.00 and a beta of 1.00. Boston Beer has a 1-year low of $290.02 and a 1-year high of $935.52. The business has a fifty day moving average price of $858.97 and a two-hundred day moving average price of $612.05.
Boston Beer (NYSE:SAM) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.88 earnings per share for the quarter, beating the consensus estimate of $2.20 by $2.68. The firm had revenue of $452.14 million during the quarter, compared to the consensus estimate of $418.75 million. Boston Beer had a net margin of 9.18% and a return on equity of 17.51%. Analysts predict that Boston Beer will post 13.17 EPS for the current fiscal year.
In other news, Director Cynthia A. Fisher sold 240 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $570.00, for a total value of $136,800.00. Following the transaction, the director now owns 400 shares of the company’s stock, valued at approximately $228,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman C James Koch sold 600 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $928.60, for a total transaction of $557,160.00. The disclosure for this sale can be found here. Insiders sold a total of 78,134 shares of company stock worth $64,664,781 in the last three months. Insiders own 29.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Boston Beer by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 839,661 shares of the company’s stock worth $450,605,000 after purchasing an additional 5,083 shares during the period. Wellington Management Group LLP grew its holdings in shares of Boston Beer by 153.8% in the first quarter. Wellington Management Group LLP now owns 346,643 shares of the company’s stock worth $127,412,000 after purchasing an additional 210,065 shares during the last quarter. State Street Corp grew its holdings in shares of Boston Beer by 2.1% in the first quarter. State Street Corp now owns 280,439 shares of the company’s stock worth $103,078,000 after purchasing an additional 5,697 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Boston Beer by 0.5% in the second quarter. Marshall Wace LLP now owns 165,867 shares of the company’s stock worth $89,012,000 after purchasing an additional 893 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Boston Beer by 56.4% in the first quarter. Champlain Investment Partners LLC now owns 146,950 shares of the company’s stock worth $54,013,000 after purchasing an additional 53,015 shares during the last quarter. 70.66% of the stock is owned by hedge funds and other institutional investors.
SAM has been the subject of several analyst reports. Jefferies Financial Group reissued an “underperform” rating on shares of Boston Beer in a research report on Friday, July 24th. Goldman Sachs Group raised their target price on shares of Boston Beer from $790.00 to $925.00 in a research report on Monday, August 17th. Deutsche Bank raised their target price on shares of Boston Beer from $540.00 to $656.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Cowen raised their target price on shares of Boston Beer from $825.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. Finally, Credit Suisse Group raised their target price on shares of Boston Beer from $505.00 to $625.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Boston Beer currently has a consensus rating of “Buy” and a consensus price target of $689.43.
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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