Boston Beer (NYSE:SAM) Sets New 1-Year Low at $287.49

Posted by on Jun 16th, 2022

The Boston Beer Company, Inc. (NYSE:SAM – Get Rating) shares reached a new 52-week low on Thursday . The stock traded as low as $287.49 and last traded at $289.29, with a volume of 2633 shares. The stock had previously closed at $301.71.

Several research analysts have weighed in on SAM shares. TheStreet downgraded shares of Boston Beer from a “c” rating to a “d+” rating in a report on Thursday, April 21st. Citigroup reduced their target price on shares of Boston Beer from $424.00 to $375.00 in a research note on Sunday, April 24th. Evercore ISI reduced their target price on shares of Boston Beer from $600.00 to $400.00 in a research note on Friday, April 22nd. Cowen reduced their target price on shares of Boston Beer from $500.00 to $375.00 and set a “market perform” rating for the company in a research note on Friday, April 22nd. Finally, Credit Suisse Group reduced their price target on shares of Boston Beer from $670.00 to $620.00 and set an “outperform” rating for the company in a research report on Friday, April 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $571.21.

The stock has a market cap of $3.56 billion, a P/E ratio of -68.73 and a beta of 0.81. The company has a quick ratio of 0.79, a current ratio of 1.45 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $351.77 and its two-hundred day simple moving average is $408.28.

Boston Beer (NYSE:SAM – Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($2.21). The firm had revenue of $430.11 million during the quarter, compared to analysts’ expectations of $444.80 million. Boston Beer had a positive return on equity of 9.05% and a negative net margin of 2.64%. The company’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.58 earnings per share. Analysts anticipate that The Boston Beer Company, Inc. will post 12.11 earnings per share for the current fiscal year.

In other news, insider John C. Geist sold 1,008 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $387.98, for a total value of $391,083.84. Following the transaction, the insider now owns 4,752 shares in the company, valued at $1,843,680.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David L. Grinnell sold 425 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $345.21, for a total transaction of $146,714.25. Following the completion of the transaction, the vice president now owns 1,611 shares in the company, valued at approximately $556,133.31. The disclosure for this sale can be found here. 23.30% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new stake in Boston Beer in the fourth quarter valued at $5,051,000. Sweet Financial Partners LLC purchased a new position in Boston Beer during the fourth quarter valued at $253,000. Cardinal Capital Management lifted its position in Boston Beer by 4.3% during the fourth quarter. Cardinal Capital Management now owns 1,884 shares of the company’s stock valued at $952,000 after buying an additional 77 shares during the period. TD Asset Management Inc. lifted its position in Boston Beer by 113.0% during the fourth quarter. TD Asset Management Inc. now owns 78,165 shares of the company’s stock valued at $39,481,000 after buying an additional 41,468 shares during the period. Finally, Simon Quick Advisors LLC lifted its position in Boston Beer by 1,600.0% during the fourth quarter. Simon Quick Advisors LLC now owns 425 shares of the company’s stock valued at $215,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 62.12% of the company’s stock.

Boston Beer Company Profile (NYSE:SAM)

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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