Boston Beer (NYSE:SAM) Issues Quarterly Earnings Results, Misses Estimates By $2.29 EPS

Boston Beer (NYSE:SAMGet Rating) released its quarterly earnings data on Thursday. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($2.29), MarketWatch Earnings reports. Boston Beer had a net margin of 0.69% and a return on equity of 14.68%. The company had revenue of $430.11 million for the quarter, compared to analyst estimates of $444.80 million. During the same period in the previous year, the firm posted $4.58 earnings per share. The firm’s revenue for the quarter was down 21.1% compared to the same quarter last year. Boston Beer updated its FY 2022 guidance to $11.000-$16.000 EPS and its FY22 guidance to $11.00-16.00 EPS.

Shares of SAM stock traded up $4.50 during mid-day trading on Friday, reaching $350.47. 6,302 shares of the company’s stock traded hands, compared to its average volume of 193,516. The company’s 50-day moving average price is $382.61 and its 200-day moving average price is $449.98. The company has a market cap of $4.31 billion, a P/E ratio of 349.51 and a beta of 0.82. Boston Beer has a 12 month low of $342.74 and a 12 month high of $1,349.98.

Several analysts recently commented on the company. Cowen decreased their price target on Boston Beer from $500.00 to $375.00 and set a “market perform” rating on the stock in a research note on Friday. Evercore ISI dropped their target price on shares of Boston Beer from $600.00 to $400.00 in a research note on Friday. Zacks Investment Research downgraded shares of Boston Beer from a “hold” rating to a “strong sell” rating and set a $322.00 price target for the company. in a research note on Monday, February 21st. MKM Partners lowered their price objective on shares of Boston Beer from $475.00 to $440.00 in a research report on Friday, January 14th. Finally, Guggenheim cut their target price on Boston Beer from $660.00 to $520.00 and set a “buy” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $606.75.

In related news, insider John C. Geist sold 1,008 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $387.98, for a total transaction of $391,083.84. Following the sale, the insider now owns 4,752 shares of the company’s stock, valued at $1,843,680.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Boston Beer by 17.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 218,562 shares of the company’s stock valued at $110,396,000 after acquiring an additional 32,131 shares during the period. Morgan Stanley raised its stake in Boston Beer by 115.5% during the 2nd quarter. Morgan Stanley now owns 87,538 shares of the company’s stock valued at $89,359,000 after buying an additional 46,921 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Boston Beer by 20.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 33,753 shares of the company’s stock valued at $17,049,000 after buying an additional 5,754 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Boston Beer by 394.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,123 shares of the company’s stock worth $6,272,000 after acquiring an additional 9,669 shares during the period. Finally, Sei Investments Co. increased its position in Boston Beer by 11.8% during the fourth quarter. Sei Investments Co. now owns 8,608 shares of the company’s stock valued at $4,348,000 after acquiring an additional 908 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

About Boston Beer (Get Rating)

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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Earnings History for Boston Beer (NYSE:SAM)

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