Boston Beer (NYSE:SAM) Issues Quarterly Earnings Results

Boston Beer (NYSE:SAM) released its quarterly earnings results on Tuesday. The company reported ($2.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.32) by $0.20, FiscalAI reports. The firm had revenue of $385.68 million during the quarter, compared to the consensus estimate of $381.75 million. Boston Beer had a net margin of 4.38% and a return on equity of 12.29%.

Boston Beer Price Performance

Shares of SAM traded up $3.53 during trading hours on Tuesday, hitting $227.69. The stock had a trading volume of 190,566 shares, compared to its average volume of 166,016. The firm has a 50 day simple moving average of $216.07 and a 200-day simple moving average of $213.81. Boston Beer has a 1-year low of $185.34 and a 1-year high of $260.00. The firm has a market capitalization of $2.43 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.71 and a beta of 1.03.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Piper Sandler lowered their target price on Boston Beer from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Royal Bank Of Canada restated a “sector perform” rating and set a $245.00 price objective on shares of Boston Beer in a research report on Friday. UBS Group reaffirmed a “neutral” rating on shares of Boston Beer in a research note on Monday. Citigroup reduced their target price on Boston Beer from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Finally, Weiss Ratings upgraded shares of Boston Beer from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $244.19.

Institutional Investors Weigh In On Boston Beer

A number of hedge funds have recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new stake in shares of Boston Beer in the fourth quarter valued at about $221,000. Kestra Advisory Services LLC purchased a new position in Boston Beer during the fourth quarter worth about $194,000. DRW Securities LLC bought a new stake in Boston Beer in the 4th quarter worth about $206,000. Camelot Portfolios LLC purchased a new stake in Boston Beer in the 3rd quarter valued at about $203,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Boston Beer during the 3rd quarter worth approximately $151,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

About Boston Beer

The Boston Beer Company, Inc (NYSE: SAM) is a leading craft brewer headquartered in Boston, Massachusetts. Since its founding in 1984 by Jim Koch, the company has focused on producing high-quality, distinctive beers and beverages for retail, on-premise, and distribution partners across the United States. Its operations include brewing, packaging, marketing and distribution, supported by a network of wholly owned brewing facilities and strategic partnerships with regional breweries.

Boston Beer’s flagship brand, Samuel Adams Boston Lager, helped establish the modern U.S.