Fidelity Management & Research Co recently announced the acquisition of new stake in The Boston Beer Company Inc. (NYSE:SAM). The institutional investor has increased its shareholding in the Consumer Defensive company by 10.88% to 1.41 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 13.79% valued currently at $464.6 million. In addition, T. Rowe Price Investment Manageme raised its holdings by 1.37 million to 1.37 million shares. And The Vanguard Group, Inc. has lifted its position by 2.24% or 19108.0 shares – to 0.87 million shares.
With over 0.11 million The Boston Beer Company Inc. (SAM) shares trading Monday and a closing price of $364.76 on the day, the dollar volume was approximately $41.33 million. The shares have shown a positive half year performance of 2.18% and its price on 01/23/23 gained nearly 2.80%. Currently, there are 12.32M common shares owned by the public and among those 9.36M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for SAM have a consensus price objective of $330.00. The analysts have set the share’s price value over the next 12 months at a high of $412.00 and a low of $245.00. The average price target is -11.08% below its recent price level and a downside to the estimated low will see the stock lose -48.88% over that period. But an upside of 11.47% will see the stock hit the forecast high price target while median target price for the stock is $320.00.
Insiders at the company have transacted a total of 65 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 36,146 shares. Insider sales of the common stock occurred on 43 occasions, with total insider shares sold totaling 30,064 shares.
The top 3 mutual fund holders in The Boston Beer Company Inc. are T Rowe Price Mid Cap Growth Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. T Rowe Price Mid Cap Growth Fund owns 0.36 million shares of the company’s stock, all valued at over $120.24 million. The company sold 34700.0 shares recently to bring their total holdings to about 3.57% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 55.0 shares to see its total holdings shrink to 0.29 million shares valued at over $95.83 million and representing 2.84% of the shares outstanding. Vanguard Total Stock Market Index bought 4330.0 shares to bring its total holdings to over 0.28 million shares at a value of $92.63 million. Vanguard Total Stock Market Index now owns shares totaling to 2.75% of the shares outstanding.
Shares of The Boston Beer Company Inc. (NYSE: SAM) opened at $352.70, down -$2.13 from a prior closing price of $354.83. However, the script later moved the day high at 373.55, up 2.80%. The company’s stock has a 5-day price change of 1.99% and 8.51% over the past three months. SAM shares are trading 10.69% year to date (YTD), with the 12-month market performance down to -19.61% lower. It has a 12-month low price of $287.00 and touched a high of $457.63 over the same period. SAM has an average intraday trading volume of 140.89K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.01%, 2.47%, and 3.93% respectively.
Institutional ownership of The Boston Beer Company Inc. (NYSE: SAM) shares accounts for 84.60% of the company’s 12.32M shares outstanding. Mutual fund holders own 28.37%, while other institutional holders and individual stakeholders account for 55.08% and 20.78% respectively.
It has a market capitalization of $4.41B and a beta (3y monthly) value of 1.02. The stock’s trailing 12-month PE ratio is 169.03, while the earnings-per-share (ttm) stands at $2.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.52% over the week and 3.51% over the month.
Analysts forecast that The Boston Beer Company Inc. (SAM) will achieve an EPS of $0.72 for the current quarter, $1.11 for the next quarter and $11.43 for 2023. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $1.28. Comparatively, EPS for the current quarter was -$4.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -92.00%, and 56.84% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate The Boston Beer Company Inc. (SAM) as a “Hold” at a consensus score of 3.30. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 9 of the 16 advise that investors “hold,” and 5 rated it as a “Sell.”
Looking at the support for the SAM, a number of firms have released research notes about the stock. Jefferies stated their Underperform rating for the stock in a research note on January 04, 2023, with the firm’s price target at $331-$275. Deutsche Bank coverage for the The Boston Beer Company Inc. (SAM) stock in a research note released on December 06, 2022 offered a Sell rating with a price target of $316. Morgan Stanley was of a view on November 07, 2022 that the stock is Underweight, while Evercore ISI gave the stock In-line rating on October 19, 2022, issuing a price target of $330. Wedbush on their part issued Neutral rating on October 11, 2022.
