Boston Beer (NYSE:SAM) Upgraded by Macquarie to “Outperform”

Macquarie upgraded shares of Boston Beer (NYSE:SAM) from a neutral rating to an outperform rating in a research note released on Wednesday, 24/7 WallStreet reports. They currently have $460.00 price target on the stock.

Several other brokerages have also recently weighed in on SAM. ValuEngine upgraded Boston Beer from a hold rating to a buy rating in a research report on Thursday, April 25th. Credit Suisse Group lifted their price target on Boston Beer from $320.00 to $375.00 and gave the company a neutral rating in a research report on Friday, July 26th. UBS Group lifted their price target on Boston Beer from $260.00 to $305.00 and gave the company a sell rating in a research report on Monday, July 29th. Guggenheim boosted their target price on Boston Beer from $372.00 to $421.00 and gave the stock a buy rating in a research report on Friday, July 12th. Finally, BMO Capital Markets boosted their target price on Boston Beer to $350.00 and gave the stock a market perform rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $345.23.

Shares of NYSE SAM opened at $402.96 on Wednesday. The stock has a market capitalization of $4.92 billion, a PE ratio of 53.94, a PEG ratio of 4.56 and a beta of 0.68. Boston Beer has a fifty-two week low of $230.93 and a fifty-two week high of $411.59. The company has a fifty day moving average of $383.33.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.51. The company had revenue of $318.40 million during the quarter, compared to analysts’ expectations of $308.49 million. Boston Beer had a return on equity of 22.89% and a net margin of 9.92%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. As a group, equities analysts anticipate that Boston Beer will post 8.93 EPS for the current fiscal year.

In related news, VP David L. Grinnell sold 500 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $357.50, for a total transaction of $178,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jean Michel Valette sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $400.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director now owns 27,258 shares of the company’s stock, valued at $10,903,200. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,500 shares of company stock valued at $2,130,425. 28.40% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SAM. Stifel Financial Corp purchased a new position in shares of Boston Beer in the 4th quarter worth about $454,000. Bank of America Corp DE boosted its holdings in shares of Boston Beer by 74.4% in the 4th quarter. Bank of America Corp DE now owns 16,959 shares of the company’s stock worth $4,084,000 after purchasing an additional 7,236 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Boston Beer in the 4th quarter worth about $177,000. Thrivent Financial for Lutherans boosted its holdings in shares of Boston Beer by 3.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,189 shares of the company’s stock worth $527,000 after purchasing an additional 82 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Boston Beer by 7.5% in the 4th quarter. Legal & General Group Plc now owns 9,008 shares of the company’s stock worth $2,169,000 after purchasing an additional 629 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

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.

Further Reading: Outstanding Shares

Analyst Recommendations for Boston Beer (NYSE:SAM)

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