The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) – Research analysts at Jefferies Financial Group boosted their FY2022 earnings per share (EPS) estimates for shares of Boston Beer in a research note issued to investors on Thursday, October 20th. Jefferies Financial Group analyst K. Grundy now expects that the company will post earnings of $8.90 per share for the year, up from their prior forecast of $8.88. The consensus estimate for Boston Beer's current full-year earnings is $8.43 per share.
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Boston Beer (NYSE:SAM – Get Rating) last issued its earnings results on Thursday, October 20th. The company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.48 by ($1.27). The business had revenue of $596.45 million for the quarter, compared to the consensus estimate of $566.42 million. Boston Beer had a net margin of 1.31% and a return on equity of 9.71%. The company's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.97 EPS.
A number of other analysts have also weighed in on the stock. Redburn Partners initiated coverage on shares of Boston Beer in a report on Wednesday, July 13th. They set a "sell" rating for the company. Credit Suisse Group raised their price objective on shares of Boston Beer from $385.00 to $405.00 and gave the stock an "outperform" rating in a report on Monday, October 17th. The Goldman Sachs Group restated a "sell" rating and issued a $251.00 price objective on shares of Boston Beer in a report on Friday, September 30th. Wedbush assumed coverage on shares of Boston Beer in a report on Monday, October 10th. They issued a "neutral" rating and a $350.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lifted 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 issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $353.43.
Boston Beer Trading Up 15.4 %
Boston Beer stock opened at $387.83 on Monday. The firm has a 50-day moving average of $344.86 and a 200-day moving average of $345.64. The firm has a market cap of $4.76 billion, a P/E ratio of 187.98 and a beta of 0.95. Boston Beer has a 1-year low of $287.00 and a 1-year high of $547.71.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its holdings in shares of Boston Beer by 166.7% during the first quarter. Meeder Asset Management Inc. now owns 72 shares of the company's stock worth $28,000 after purchasing an additional 45 shares during the last quarter. National Bank of Canada FI increased its holdings in Boston Beer by 88.2% in the second quarter. National Bank of Canada FI now owns 96 shares of the company's stock valued at $29,000 after buying an additional 45 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Boston Beer in the second quarter valued at $32,000. Quadrant Capital Group LLC increased its holdings in Boston Beer by 47.6% in the second quarter. Quadrant Capital Group LLC now owns 121 shares of the company's stock valued at $37,000 after buying an additional 39 shares in the last quarter. Finally, Activest Wealth Management grew its position in shares of Boston Beer by 733.3% in the second quarter. Activest Wealth Management now owns 125 shares of the company's stock valued at $38,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 70.32% of the company's stock.
Insider Buying and Selling at Boston Beer
In related news, VP David L. Grinnell sold 425 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $379.92, for a total value of $161,466.00. Following the sale, the vice president now directly owns 1,611 shares of the company's stock, valued at approximately $612,051.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Beer news, VP David L. Grinnell sold 425 shares of the firm's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $379.92, for a total value of $161,466.00. Following the completion of the sale, the vice president now directly owns 1,611 shares in the company, valued at $612,051.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Carolyn L. O'boyle sold 251 shares of the firm's stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $381.73, for a total transaction of $95,814.23. Following the completion of the transaction, the insider now directly owns 2,593 shares of the company's stock, valued at approximately $989,825.89. The disclosure for this sale can be found here. Insiders sold 777 shares of company stock valued at $292,630 in the last 90 days. Insiders own 23.30% of the company's stock.
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, 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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