The Boston Beer’s (SAM) Underperform Rating Reaffirmed at Cowen and Company

The Boston Beer’s (SAM) Underperform Rating Reaffirmed at Cowen and Company

Cowen and Company reiterated their underperform rating on shares of Boston Beer Co. (NYSE:SAM) in a research report report published on Wednesday. Cowen and Company currently has a $135.00 price target on the stock, up from their prior price target of $128.00.

Several other brokerages also recently commented on SAM. William Blair started coverage on Boston Beer in a research report on Wednesday, September 21st. They issued an outperform rating on the stock. Jefferies Group reaffirmed a hold rating on shares of Boston Beer in a research report on Wednesday, August 10th. Zacks Investment Research downgraded Boston Beer from a hold rating to a sell rating in a research report on Monday, July 25th. Credit Suisse Group AG started coverage on Boston Beer in a research report on Thursday, September 15th. They issued an underperform rating and a $156.00 price target on the stock. Finally, Susquehanna reaffirmed a hold rating and issued a $165.00 price target on shares of Boston Beer in a research report on Sunday, July 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. Boston Beer has an average rating of Hold and a consensus price target of $174.55.

Boston Beer (NYSE:SAM) traded up 0.74% during midday trading on Wednesday, reaching $164.01. The company’s stock had a trading volume of 32,930 shares. The firm has a market capitalization of $2.02 billion, a PE ratio of 24.56 and a beta of 0.64. Boston Beer has a 1-year low of $145.33 and a 1-year high of $260.51. The firm has a 50 day moving average price of $166.72 and a 200 day moving average price of $168.04.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, July 21st. The company reported $2.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.12. Boston Beer had a return on equity of 19.60% and a net margin of 9.22%. The business had revenue of $244.80 million for the quarter, compared to the consensus estimate of $238.87 million. On average, analysts predict that Boston Beer will post $6.46 EPS for the current year.

In other Boston Beer news, VP David L. Grinnell sold 1,000 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $164.81, for a total value of $164,810.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Martin F. Roper sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $150.07, for a total value of $750,350.00. Following the completion of the transaction, the insider now directly owns 37,273 shares in the company, valued at approximately $5,593,559.11. The disclosure for this sale can be found here. 31.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of SAM. Tybourne Capital Management HK Ltd. raised its position in Boston Beer by 37.4% in the first quarter. Tybourne Capital Management HK Ltd. now owns 759,411 shares of the company’s stock worth $140,544,000 after buying an additional 206,716 shares in the last quarter. Vanguard Group Inc. raised its position in Boston Beer by 1.7% in the second quarter. Vanguard Group Inc. now owns 676,685 shares of the company’s stock worth $115,734,000 after buying an additional 11,328 shares in the last quarter. BlackRock Fund Advisors raised its position in Boston Beer by 0.3% in the second quarter. BlackRock Fund Advisors now owns 452,873 shares of the company’s stock worth $77,455,000 after buying an additional 1,534 shares in the last quarter. Fisher Asset Management LLC raised its position in Boston Beer by 0.8% in the third quarter. Fisher Asset Management LLC now owns 348,515 shares of the company’s stock worth $54,110,000 after buying an additional 2,842 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Boston Beer by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 332,033 shares of the company’s stock worth $56,788,000 after buying an additional 18,034 shares during the last quarter. 65.23% of the stock is currently owned by institutional investors.

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