Short Interest in The Boston Beer Company, Inc. (NYSE:SAM) Drops By 17.8%

The Boston Beer Company, Inc. (NYSE:SAM) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 331,100 shares, a drop of 17.8% from the May 31st total of 402,900 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 215,300 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Boston Beer from a “hold” rating to a “buy” rating and increased their target price for the stock from $335.00 to $360.00 in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Beer from a “sell” rating to a “hold” rating and set a $273.00 price objective for the company in a research note on Wednesday, May 8th. The Goldman Sachs Group dropped their target price on Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a research report on Tuesday, April 9th. Citigroup reduced their price target on Boston Beer from $350.00 to $315.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Finally, Piper Sandler initiated coverage on Boston Beer in a report on Friday, March 22nd. They set an “overweight” rating and a $350.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $335.00.

Insider Buying and Selling at Boston Beer

In other Boston Beer news, insider Carolyn L. O’boyle sold 101 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total value of $30,652.49. Following the transaction, the insider now owns 7,029 shares of the company’s stock, valued at $2,133,231.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 23.30% of the company’s stock.

Institutional Trading of Boston Beer

Large investors have recently added to or reduced their stakes in the stock. LRI Investments LLC purchased a new position in shares of Boston Beer during the 1st quarter worth approximately $30,000. iA Global Asset Management Inc. boosted its position in shares of Boston Beer by 0.8% during the first quarter. iA Global Asset Management Inc. now owns 19,265 shares of the company’s stock valued at $5,865,000 after purchasing an additional 161 shares in the last quarter. Comerica Bank grew its stake in Boston Beer by 51.0% in the first quarter. Comerica Bank now owns 4,193 shares of the company’s stock worth $1,276,000 after purchasing an additional 1,416 shares during the period. Tidal Investments LLC raised its holdings in Boston Beer by 100.6% in the first quarter. Tidal Investments LLC now owns 1,868 shares of the company’s stock worth $569,000 after purchasing an additional 937 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Boston Beer by 171.8% during the first quarter. Jane Street Group LLC now owns 15,876 shares of the company’s stock valued at $4,833,000 after buying an additional 37,985 shares during the period. Institutional investors own 81.13% of the company’s stock.

Boston Beer Price Performance

Shares of Boston Beer stock opened at $304.90 on Friday. Boston Beer has a one year low of $254.40 and a one year high of $395.52. The business’s 50 day simple moving average is $284.96 and its two-hundred day simple moving average is $313.79. The stock has a market capitalization of $3.64 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09.

Boston Beer (NYSE:SAM) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.96. The business had revenue of $426.05 million for the quarter, compared to analyst estimates of $414.18 million. Boston Beer had a net margin of 4.60% and a return on equity of 10.11%. Sell-side analysts expect that Boston Beer will post 10.25 earnings per share for the current fiscal year.

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, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.