Boston Beer Company, Inc. (The) (NYSE:SAM) Downgraded by BidaskClub

BidaskClub cut shares of Boston Beer Company, Inc. (The) (NYSE:SAM) from a buy rating to a hold rating in a research note published on Wednesday.

Several other brokerages have also commented on SAM. Cowen and Company restated a sell rating and issued a $126.00 price objective on shares of Boston Beer Company, Inc. (The) in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Boston Beer Company, Inc. (The) from a sell rating to a hold rating in a report on Tuesday, April 25th. Royal Bank Of Canada restated a sector perform rating and issued a $158.00 price objective on shares of Boston Beer Company, Inc. (The) in a report on Wednesday, April 26th. Jefferies Group LLC restated a hold rating and issued a $130.00 price objective (down from $145.00) on shares of Boston Beer Company, Inc. (The) in a report on Tuesday, April 18th. Finally, Susquehanna Bancshares Inc restated a positive rating on shares of Boston Beer Company, Inc. (The) in a report on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $142.13.

Shares of Boston Beer Company, Inc. (NYSE SAM) traded down 0.20% during mid-day trading on Wednesday, reaching $147.65. 137,504 shares of the company’s stock traded hands. Boston Beer Company, Inc. has a 12-month low of $128.70 and a 12-month high of $194.98. The stock has a market capitalization of $1.77 billion, a PE ratio of 21.01 and a beta of 0.55. The company’s 50-day moving average price is $138.60 and its 200-day moving average price is $145.14.

Boston Beer Company, Inc. (The) (NYSE:SAM) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $1.46 by $0.89. Boston Beer Company, Inc. (The) had a net margin of 9.65% and a return on equity of 20.19%. The firm had revenue of $247.90 million for the quarter, compared to analyst estimates of $222.74 million. During the same period in the prior year, the business posted $2.06 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts anticipate that Boston Beer Company, Inc. will post $5.78 earnings per share for the current year.

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In other Boston Beer Company, Inc. (The) news, VP David L. Grinnell sold 2,628 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $159.90, for a total transaction of $420,217.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Burwick sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $144.00, for a total transaction of $720,000.00. Following the sale, the director now owns 6,094 shares in the company, valued at $877,536. The disclosure for this sale can be found here. 31.30% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Boston Beer Company, Inc. (The) by 12,367.2% in the first quarter. BlackRock Inc. now owns 1,128,029 shares of the company’s stock worth $163,169,000 after buying an additional 1,118,981 shares during the period. Contrarius Investment Management Ltd acquired a new stake in Boston Beer Company, Inc. (The) during the first quarter worth about $28,890,000. Morgan Stanley raised its stake in Boston Beer Company, Inc. (The) by 132.1% in the first quarter. Morgan Stanley now owns 120,618 shares of the company’s stock worth $17,447,000 after buying an additional 68,642 shares during the period. Bank of New York Mellon Corp raised its stake in Boston Beer Company, Inc. (The) by 18.5% in the first quarter. Bank of New York Mellon Corp now owns 410,646 shares of the company’s stock worth $59,400,000 after buying an additional 64,189 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Boston Beer Company, Inc. (The) by 147.8% in the second quarter. Ameriprise Financial Inc. now owns 81,738 shares of the company’s stock worth $10,801,000 after buying an additional 48,757 shares during the period. Institutional investors own 70.61% of the company’s stock.

About Boston Beer Company, Inc. (The)

The Boston Beer Company, Inc 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 selected international markets. The Company operates through two segments: Boston Beer Company segment, and A&S Brewing Collaborative segment.

Analyst Recommendations for Boston Beer Company, Inc. (The) (NYSE:SAM)

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