Boston Beer (NYSE:SAM) Price Target Cut to $625.00

Boston Beer (NYSE:SAM) had its price target decreased by Royal Bank of Canada from $661.00 to $625.00 in a report published on Friday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts have also commented on SAM. Cowen raised Boston Beer from an underperform rating to a market perform rating and lifted their price target for the company from $400.00 to $500.00 in a research note on Monday, December 6th. Zacks Investment Research raised Boston Beer from a hold rating to a buy rating and set a $543.00 price target on the stock in a research note on Tuesday, December 28th. Deutsche Bank Aktiengesellschaft cut their price target on Boston Beer from $564.00 to $492.00 and set a hold rating on the stock in a research note on Friday, October 22nd. UBS Group cut their price target on Boston Beer from $775.00 to $700.00 and set a buy rating on the stock in a research note on Friday, October 22nd. They noted that the move was a valuation call. Finally, Credit Suisse Group lowered their price objective on Boston Beer from $935.00 to $785.00 and set an outperform rating for the company in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average target price of $764.87.

NYSE:SAM opened at $449.33 on Friday. The stock’s 50-day simple moving average is $492.39 and its 200 day simple moving average is $591.12. The firm has a market capitalization of $5.52 billion, a PE ratio of 56.95 and a beta of 0.72. Boston Beer has a twelve month low of $428.13 and a twelve month high of $1,349.98.

Boston Beer (NYSE:SAM) last released its quarterly earnings data on Wednesday, October 20th. The company reported ($1.87) earnings per share for the quarter, missing the consensus estimate of $4.60 by ($6.47). The business had revenue of $561.64 million during the quarter, compared to analyst estimates of $496.90 million. Boston Beer had a net margin of 4.49% and a return on equity of 17.98%. During the same period last year, the business earned $6.10 earnings per share. As a group, sell-side analysts anticipate that Boston Beer will post 16.41 EPS for the current fiscal year.

In other news, insider John C. Geist sold 6,000 shares of the business’s stock in a transaction dated Monday, January 3rd. The stock was sold at an average price of $512.48, for a total transaction of $3,074,880.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Quincy B. Troupe sold 843 shares of the company’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $500.00, for a total value of $421,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,188 shares of company stock valued at $14,152,068 in the last ninety days. Insiders own 24.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Boston Beer by 18.1% during the second quarter. BlackRock Inc. now owns 1,307,152 shares of the company’s stock valued at $1,334,343,000 after acquiring an additional 200,086 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Boston Beer by 0.5% in the second quarter. Vanguard Group Inc. now owns 875,263 shares of the company’s stock worth $893,469,000 after acquiring an additional 4,384 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Boston Beer by 12.0% in the second quarter. JPMorgan Chase & Co. now owns 391,552 shares of the company’s stock worth $399,696,000 after acquiring an additional 41,958 shares during the last quarter. State Street Corp grew its stake in shares of Boston Beer by 42.5% in the second quarter. State Street Corp now owns 302,214 shares of the company’s stock worth $308,500,000 after acquiring an additional 90,109 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Boston Beer by 1,721.7% in the third quarter. The Manufacturers Life Insurance Company now owns 186,431 shares of the company’s stock worth $95,033,000 after acquiring an additional 176,197 shares during the last quarter. Institutional investors own 65.46% of the company’s stock.

About Boston Beer

Boston Beer Co, Inc engages in the business of alcoholic beverages. Its brands include Truly Hard Seltzer, Twisted Tea, Samuel Adams, Angry Orchard, Hard Cider and Dogfish Head, and Craft Brewery. The company was founded by C. James Koch in 1984 and is headquartered in Boston, MA.

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