The Boston Beer Company, Inc. (NYSE:SAM) Insider Carolyn L. O’boyle Sells 101 Shares

The Boston Beer Company, Inc. (NYSE:SAMGet Free Report) insider Carolyn L. O’boyle sold 101 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now directly owns 7,029 shares in the company, valued at $2,133,231.21. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Boston Beer Trading Down 0.3 %

Shares of Boston Beer stock opened at $299.84 on Wednesday. The business’s fifty day simple moving average is $327.84 and its 200 day simple moving average is $344.10. The Boston Beer Company, Inc. has a 12 month low of $287.33 and a 12 month high of $395.52. The firm has a market capitalization of $3.60 billion, a P/E ratio of 48.36, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02.

Boston Beer (NYSE:SAMGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. The company had revenue of $393.72 million during the quarter, compared to analysts’ expectations of $413.57 million. During the same period last year, the firm posted ($0.93) earnings per share. Boston Beer’s quarterly revenue was down 12.0% compared to the same quarter last year. Analysts predict that The Boston Beer Company, Inc. will post 9.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Covestor Ltd lifted its stake in Boston Beer by 88.4% in the third quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Boston Beer in the second quarter valued at $32,000. Main Street Group LTD purchased a new position in shares of Boston Beer during the 4th quarter valued at $35,000. Quarry LP bought a new position in shares of Boston Beer during the 4th quarter worth $42,000. Finally, KBC Group NV purchased a new stake in Boston Beer in the 4th quarter worth about $46,000. 81.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $337.00 target price on shares of Boston Beer in a research report on Wednesday, February 28th. Roth Mkm lifted their price objective on shares of Boston Beer from $406.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Morgan Stanley decreased their target price on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Sanford C. Bernstein raised shares of Boston Beer from an “underperform” rating to a “market perform” rating and raised their price target for the company from $280.00 to $335.00 in a research report on Tuesday, January 16th. Finally, Piper Sandler initiated coverage on Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $344.08.

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About Boston Beer

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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.

Further Reading

Insider Buying and Selling by Quarter for Boston Beer (NYSE:SAM)

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