Boston Beer (NYSE:SAM – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.00-$10.00 for the period, compared to the consensus estimate of $8.33. The company issued revenue guidance of -. Boston Beer also updated its FY22 guidance to $7.00-10.00 EPS.
Boston Beer Stock Performance
NYSE:SAM opened at $402.28 on Friday. The company has a fifty day moving average of $344.86 and a two-hundred day moving average of $345.91. The stock has a market capitalization of $4.94 billion, a PE ratio of 187.98 and a beta of 0.95. Boston Beer has a fifty-two week low of $287.00 and a fifty-two week high of $547.71.
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Boston Beer (NYSE:SAM – Get Rating) last issued its earnings results on Thursday, October 20th. The company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $3.48 by ($1.27). The business had revenue of $596.45 million during the quarter, compared to analyst estimates of $566.42 million. Boston Beer had a net margin of 1.31% and a return on equity of 9.71%. Boston Beer's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $2.97 earnings per share. Research analysts forecast that Boston Beer will post 8.43 earnings per share for the current year.
Wall Street Analyst Weigh In
SAM has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of Boston Beer from $384.00 to $341.00 in a research note on Thursday, July 21st. TheStreet raised shares of Boston Beer from a d+ rating to a c rating in a research note on Friday, July 22nd. StockNews.com began coverage on shares of Boston Beer in a report on Wednesday, October 12th. They issued a hold rating on the stock. Credit Suisse Group raised their target price on shares of Boston Beer from $385.00 to $405.00 and gave the company an outperform rating in a report on Monday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Beer from $296.00 to $315.00 and gave the company a hold rating in a report on Monday, October 10th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $353.43.
Insider Transactions at Boston Beer
In related news, insider Carolyn L. O'boyle sold 101 shares of Boston Beer stock in a transaction on Monday, October 10th. The shares were sold at an average price of $350.00, for a total value of $35,350.00. Following the transaction, the insider now directly owns 2,476 shares in the company, valued at approximately $866,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boston Beer news, insider Carolyn L. O'boyle sold 101 shares of the business's stock in a transaction on Monday, October 10th. The shares were sold at an average price of $350.00, for a total transaction of $35,350.00. Following the sale, the insider now directly owns 2,476 shares in the company, valued at approximately $866,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David L. Grinnell sold 425 shares of the business's stock in a transaction on Monday, August 1st. The stock was sold at an average price of $379.92, for a total transaction of $161,466.00. Following the sale, the vice president now owns 1,611 shares in the company, valued at $612,051.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 777 shares of company stock worth $292,630. Insiders own 23.30% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new position in shares of Boston Beer during the 2nd quarter worth $32,000. Captrust Financial Advisors raised its stake in Boston Beer by 178.5% in the 2nd quarter. Captrust Financial Advisors now owns 571 shares of the company's stock valued at $173,000 after purchasing an additional 366 shares during the last quarter. Baltimore Washington Financial Advisors Inc. acquired a new position in Boston Beer in the 1st quarter valued at about $229,000. Neuberger Berman Group LLC raised its stake in Boston Beer by 44.2% in the 1st quarter. Neuberger Berman Group LLC now owns 878 shares of the company's stock valued at $341,000 after purchasing an additional 269 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in Boston Beer in the 2nd quarter valued at about $391,000. Institutional investors and hedge funds own 70.32% of the company's stock.
Boston Beer Company Profile
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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, and hard seltzers under the Samuel Adams, Twisted Tea, Truly Hard Seltzer, Angry Orchard, Dogfish Head, Angel City, Coney Island, Concrete Beach brand names.
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