The Boston Beer Company, Inc. (NYSE:SAM) Insider Carolyn L. O’boyle Sells 63 Shares

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 63 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $274.90, for a total value of $17,318.70. Following the transaction, the insider now owns 6,966 shares in the company, valued at approximately $1,914,953.40. The sale was disclosed in a document filed with the SEC, which is available through this link.

Boston Beer Stock Performance

NYSE:SAM opened at $273.02 on Thursday. The stock has a 50 day moving average price of $285.96 and a 200 day moving average price of $297.94. The stock has a market cap of $3.26 billion, a PE ratio of 34.26, a P/E/G ratio of 1.11 and a beta of 1.03. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $395.52.

Boston Beer (NYSE:SAM) last issued its earnings results on Thursday, July 25th. The company reported $4.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.60). The company had revenue of $579.10 million during the quarter, compared to analyst estimates of $597.33 million. Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business earned $4.72 earnings per share. As a group, analysts predict that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SAM. Jefferies Financial Group upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and upped their price objective for the stock from $335.00 to $360.00 in a research report on Tuesday, May 14th. StockNews.com lowered shares of Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Royal Bank of Canada cut their price objective on Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a research note on Friday, July 26th. Morgan Stanley upgraded Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price on the stock in a research report on Wednesday, June 5th. Finally, Piper Sandler dropped their price target on Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $326.92.

Hedge Funds Weigh In On Boston Beer

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock worth $317,425,000 after buying an additional 21,060 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Boston Beer by 17.0% during the second quarter. Dimensional Fund Advisors LP now owns 182,972 shares of the company’s stock worth $55,814,000 after acquiring an additional 26,538 shares during the last quarter. Bank of New York Mellon Corp raised its position in Boston Beer by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 133,486 shares of the company’s stock valued at $40,720,000 after purchasing an additional 9,997 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Boston Beer by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 107,312 shares of the company’s stock valued at $37,086,000 after purchasing an additional 3,382 shares during the last quarter. Finally, Armistice Capital LLC grew its holdings in shares of Boston Beer by 1.1% during the 2nd quarter. Armistice Capital LLC now owns 97,292 shares of the company’s stock worth $29,679,000 after purchasing an additional 1,093 shares during the period. 81.13% of the stock is currently owned by institutional investors and hedge funds.

About Boston Beer

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.