The Boston Beer Company, Inc. (NYSE:SAM) Insider Carolyn L. O’boyle Sells 62 Shares

The Boston Beer Company, Inc. (NYSE:SAM) insider Carolyn L. O’boyle sold 62 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $288.86, for a total value of $17,909.32. Following the sale, the insider now owns 6,841 shares of the company’s stock, valued at $1,976,091.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Boston Beer Price Performance

Shares of SAM stock traded down $4.27 during trading hours on Wednesday, hitting $283.83. The stock had a trading volume of 29,777 shares, compared to its average volume of 161,411. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 1.16 and a beta of 1.05. The Boston Beer Company, Inc. has a one year low of $254.40 and a one year high of $393.65. The stock’s 50-day moving average price is $276.00 and its two-hundred day moving average price is $283.90.

Boston Beer (NYSE:SAM) last issued its quarterly 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). Boston Beer had a return on equity of 9.69% and a net margin of 4.39%. The company had revenue of $579.10 million during the quarter, compared to the consensus estimate of $597.33 million. During the same quarter in the prior year, the business earned $4.72 earnings per share. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts predict that The Boston Beer Company, Inc. will post 9.65 earnings per share for the current fiscal year.

Institutional Trading of Boston Beer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Boston Beer in the 1st quarter worth about $28,000. Quarry LP purchased a new stake in shares of Boston Beer in the fourth quarter valued at approximately $42,000. ORG Partners LLC purchased a new stake in shares of Boston Beer in the second quarter valued at approximately $48,000. Sachetta LLC grew its stake in Boston Beer by 1,533.3% in the second quarter. Sachetta LLC now owns 245 shares of the company’s stock worth $68,000 after purchasing an additional 230 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Boston Beer by 61.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250 shares of the company’s stock worth $75,000 after purchasing an additional 95 shares during the period. 81.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley upgraded shares of Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 target price for the company in a research report on Wednesday, June 5th. Royal Bank of Canada reduced their target price on shares of Boston Beer from $332.00 to $318.00 and set a “sector perform” rating for the company in a report on Friday, July 26th. Roth Mkm decreased their target price on shares of Boston Beer from $395.00 to $389.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Piper Sandler reduced their price objective on shares of Boston Beer from $344.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Boston Beer currently has an average rating of “Hold” and an average price target of $326.92.

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.