Macquarie Boosts Boston Beer (SAM) Price Target to $365.00

Boston Beer (NYSE:SAM) had its price objective upped by Macquarie from $325.00 to $365.00 in a research note published on Friday, BenzingaRatingsTable reports. They currently have a neutral rating on the stock.

SAM has been the subject of a number of other reports. ValuEngine upgraded shares of Boston Beer from a hold rating to a buy rating in a research report on Thursday, April 25th. BMO Capital Markets boosted their price target on shares of Boston Beer to $275.00 and gave the company a market perform rating in a research report on Thursday, February 21st. Zacks Investment Research lowered shares of Boston Beer from a hold rating to a sell rating in a research report on Wednesday, April 24th. Guggenheim restated a buy rating and set a $308.00 price target on shares of Boston Beer in a research report on Thursday, February 21st. Finally, Goldman Sachs Group lowered shares of Boston Beer from a neutral rating to a sell rating and set a $275.79 price target for the company. in a research report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $283.57.

Boston Beer stock opened at $347.83 on Friday. Boston Beer has a 1-year low of $228.45 and a 1-year high of $350.60. The company has a market capitalization of $3.88 billion, a P/E ratio of 46.56, a price-to-earnings-growth ratio of 3.88 and a beta of 0.57.

Boston Beer (NYSE:SAM) last released its quarterly earnings results on Wednesday, April 24th. The company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.98. The firm had revenue of $252.00 million during the quarter, compared to analyst estimates of $232.19 million. Boston Beer had a net margin of 9.94% and a return on equity of 23.00%. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. As a group, equities analysts predict that Boston Beer will post 8.59 earnings per share for the current fiscal year.

In other Boston Beer news, insider John C. Geist sold 8,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $287.20, for a total value of $2,297,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Grinnell sold 1,500 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $297.50, for a total transaction of $446,250.00. The disclosure for this sale can be found here. Insiders sold 33,564 shares of company stock valued at $10,168,189 over the last quarter. 28.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Boston Beer by 61.8% during the third quarter. JPMorgan Chase & Co. now owns 84,063 shares of the company’s stock valued at $24,168,000 after acquiring an additional 32,093 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Boston Beer by 2.3% during the third quarter. Legal & General Group Plc now owns 8,379 shares of the company’s stock valued at $2,409,000 after acquiring an additional 190 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Boston Beer by 5.0% during the third quarter. Vanguard Group Inc. now owns 905,863 shares of the company’s stock valued at $260,436,000 after acquiring an additional 43,545 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Boston Beer by 76.6% during the third quarter. Federated Investors Inc. PA now owns 51,774 shares of the company’s stock valued at $14,885,000 after acquiring an additional 22,451 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in shares of Boston Beer by 5.7% during the fourth quarter. Contravisory Investment Management Inc. now owns 778 shares of the company’s stock valued at $187,000 after acquiring an additional 42 shares during the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.

Boston Beer Company Profile

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, Angry Orchard Hard Cider, and Truly Hard Seltzer brand names.

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