Boston Beer (NYSE:SAM) Shares Gap Down to $313.67

The Boston Beer Company, Inc. (NYSE:SAMGet Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $313.67, but opened at $283.01. Boston Beer shares last traded at $291.52, with a volume of 83,838 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SAM shares. UBS Group reduced their price target on Boston Beer from $390.00 to $355.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley lowered their price target on shares of Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. The Goldman Sachs Group reduced their price objective on shares of Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Citigroup lowered their target price on shares of Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group upgraded Boston Beer from a “hold” rating to a “buy” rating and raised their price target for the company from $335.00 to $360.00 in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $333.93.

View Our Latest Report on Boston Beer

Boston Beer Price Performance

The company has a market cap of $3.57 billion, a PE ratio of 37.44, a PEG ratio of 1.13 and a beta of 1.09. The stock has a 50 day simple moving average of $284.10 and a two-hundred day simple moving average of $319.90.

Boston Beer (NYSE:SAMGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. The firm had revenue of $426.05 million during the quarter, compared to the consensus estimate of $414.18 million. As a group, equities analysts anticipate that The Boston Beer Company, Inc. will post 10.34 EPS for the current fiscal year.

Insider Transactions at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 24.00% of the company’s stock.

Hedge Funds Weigh In On Boston Beer

Large investors have recently bought and sold shares of the company. LRI Investments LLC purchased a new position in Boston Beer during the first quarter worth about $30,000. iA Global Asset Management Inc. lifted its holdings in shares of Boston Beer by 0.8% in the 1st quarter. iA Global Asset Management Inc. now owns 19,265 shares of the company’s stock valued at $5,865,000 after buying an additional 161 shares during the period. Comerica Bank boosted its stake in shares of Boston Beer by 51.0% in the first quarter. Comerica Bank now owns 4,193 shares of the company’s stock valued at $1,276,000 after buying an additional 1,416 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Boston Beer by 100.6% in the first quarter. Tidal Investments LLC now owns 1,868 shares of the company’s stock valued at $569,000 after buying an additional 937 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Boston Beer by 171.8% in the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock worth $4,833,000 after acquiring an additional 37,985 shares in the last quarter. Hedge funds and other institutional investors own 81.13% of the company’s stock.

Boston Beer Company Profile

(Get Free Report)

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.

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