Ultime notizie per Boston Beer Co (NYSE:SAM) Azioni

Boston Beer Co

Boston Beer is a top player in high-end malt beverages and adjacent categories in the us, with strong positions in craft beer, flavored malt beverages, hard cider, and hard seltzer. The bulk of volume and revenue is concentrated in four brands: Samuel Adams, Angry Orchard, Twisted Tea, and Truly. Beverages are produced using a hybrid model leveraging both in-house capacities and third-party breweries through contract arrangements. While the firm is required to use distributors to reach end markets, including retailers and on-premises operators, it also employs 500 internal sales representatives to educate the market about its products. The firm generates over 95% of sales in the us.

Boston Beer Company, Inc. (The) Common Stock

Boston Beer Co Inc

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News

Buybacks

On Oct 2, Boston Beer Company Board Authorized Increase In Expenditure Limit For Co's Stock Repurchase Program By $400M

Green Thumb Industries Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/GTII#CSE">GTII</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>), the owner of RISE Dispensaries, announced a $50 million share repurchase program on Monday.
What Happened: The company's board of directors approved the repurchase of up to 10,573,860 of its subordinate voting shares from time to time over the next 12 months.
The program will commence on Sept. 23, 2024, and expire on Sept. 22, 2025. Green Thumb's previous repurchase program expired on Sept. 10, 2024, under which the company repurchased 6.5 million shares for $73.3 million.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16080441/ccc-oct-24-banner__1_-21.gif" alt="" class="wp-image-549412" /></a></figure>
The news comes on the heels of the company's announcement that it has closed on a $150 million five-year syndicated credit facility led by Valley National Bank, <a href="https://www.benzinga.com/markets/cannabis/24/09/40834346/cannabis-giant-green-thumb-secures-150m-credit-facility-strengthens-our-already-clean-balance-sh">the principal subsidiary of Valley National Bancorp.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40175373/green-thumbs-q2-revenue-soars-11-to-280m-is-rising-cost-something-to-watch">Green Thumb's Q2 Revenue Soars 11% To $280M, Is Rising Cost Something To Watch?</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
Why It Matters: Green Thumb CEO Ben Kovler said the buyback program allows it to be more flexible in using its cash reserves to repurchase more shares, if an opportunity arises.
"We love our balance sheet, particularly in light of the recent refinancing, and remain open to strategic M&amp;A, capital expenditures into the business and unique investment opportunities," Kovler said. "The future is bright for Green Thumb as America craves more well-being and more cannabis."
In June, Green Thumb expressed interest in merging with Boston Beer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>), a deal observers thought could reshape the <a href="https://www.benzinga.com/topic/cannabis-beverages">cannabis and beverage sectors</a>. The transaction would create a company with $3 billion in proforma 2023 revenues, with two-thirds from Boston Beer.
<h3 class="wp-block-heading">GTBIF Price Action</h3>
Green Thumb's shares traded 0.04% higher at $10.33 per share after the market close on Friday afternoon.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40427128/verano-green-thumb-marimeds-strong-q2-unpacking-the-cannabis-earnings-surge">Verano, Green Thumb &amp; MariMed's Strong Q2: Unpacking The Cannabis Earnings Surge</a></li>
</ul>

Cannabis

Financing

CSE:GTII

GTBIF

GTII

Cannabis Giant Green Thumb Confirms $50M Share Repurchase Program, CEO Open To M&A And 'Unique Investments'

Green Thumb Industries Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/GTII#CSE">GTII</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>), the owner of RISE Dispensaries announced on Thursday it has closed on a $150 million 5-year syndicated credit facility led by Valley National Bank, the principal subsidiary of Valley National Bancorp.
What Happened: The notes have a maturity date of Sept. 11, 2029 and will bear interest from the date of issue at a secured overnight financing rate (SOFR) + 500 basis points, payable quarterly.
The company said the transaction did not involve the issuance of any Green Thumb equity to any of the participating banks.
Why It Matters: The Chicago-based cannabis consumer packaged goods company plans to use proceeds along with existing cash to retire its $225 million senior secured debt due April 30, 2025.
Ben Kovler, the company's founder, chairman and CEO called the financing deal "a first-of-its-kind credit facility for the U.S. cannabis industry."
"This new capital funding further strengthens our already clean balance sheet for another five years," he said.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/12092702/ccc-oct-24-banner__1_-18.gif" alt="" class="wp-image-544696" /></a></figure>
What's Next: "We plan to double down on our efforts to build brands that Americans love," Kovler continued. "Cannabis is a means toward more well-being, and we know Americans are craving well-being now more than ever. The future of America is more cannabis, and this debt arrangement allows us to invest in the future of America's well-being.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40175373/green-thumbs-q2-revenue-soars-11-to-280m-is-rising-cost-something-to-watch">Green Thumb&#8217;s Q2 Revenue Soars 11% To $280M, Is Rising Cost Something To Watch?</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Rumors Of Green Thumb And Boston Beer Merger</h3>
In June Green Thumb made headlines for expressing interest in merging with Boston Beer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>), a move that has the potential to reshape the <a href="https://www.benzinga.com/topic/cannabis-beverages">cannabis and beverage sectors.</a>
A June 4th letter from Kovler to Boston Beer chairman Jim Koch expressed interest in a merger. The transaction would create a company with $3 billion in proforma 2023 revenues, with two-thirds from Boston Beer.
A report by Pablo Zuanic of Zuanic &amp; Associates explained at the time that Boston Beer's revenues are projected to increase by 2% in 2024, while Green Thumb&#8217;s are expected to grow by 15%. Despite higher sales, SAM operates in a flat to declining industry, whereas Green Thumb is in a growth sector, as highlighted in a summary of Zuanic's report by  Benzinga's <a href="https://www.benzinga.com/author/nicol-s-jose-rodriguez">Nicolás Jose Rodriguez.</a>
That said, Green Thumb&#8217;s net debt stood at $147 million at the end of 2023, while SAM had $298 million in cash and no financial debt. Zuanic said a cash offer for SAM would significantly increase Green Thumb&#8217;s leverage, making it an unlikely scenario. An <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38656307/big-players-in-u-s-cannabis-could-play-the-stock-value-card-in-m-a-new-report-shows">equity-based offer</a>, either 50/50 or 100%, would be more feasible and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39214567/rumors-of-green-thumb-and-boston-beer-merger-what-investors-need-to-know-analyst-br">beneficial for both parties.</a>
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<h3 class="wp-block-heading">GTBIF Price Action</h3>
Green Thumb's shares traded 0.10% higher at $10.34 per share after the market close on Wednesday afternoon.

Cannabis Giant Green Thumb Secures $150M Credit Facility, 'Strengthens Our Already Clean Balance Sheet'

WIIM

ABEV

Shares of beer companies are trading lower following weak earnings from Heineken.

Roth MKM analyst Bill Kirk maintains Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) with a Buy and lowers the price target from $395 to $389.

Price Target

Analyst Ratings

Roth MKM Maintains Buy on Boston Beer Co, Lowers Price Target to $389

Shares of Boston Beer Company Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) were climbing in early trading on Friday, after the company reported its <a href="https://www.benzinga.com/news/earnings/24/07/39972463/sam-adams-parent-boston-beer-reports-q2-results">second-quarter results</a>.
The results came amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
<ul>
<li>Goldman Sachs analyst Bonnie Herzog reiterated a Sell rating, while reducing the price target from $210 to $230.</li>
<li>RBC Capital Markets analyst Nik Modi maintained a Sector Perform rating, while cutting the price target from $332 to $318.</li>
<li>Piper Sandler analyst Michael Lavery reaffirmed an Overweight rating, while slashing the price target from $344 to $325.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Goldman Sachs: Boston Beer Company reported its quarterly earnings at $4.39 per share, significantly missing the consensus of $5.01 per share, due to softer-than-expected depletions and shipments as well as ongoing costs that resulted in disappointing gross margins, Herzog said in a note.
Management lowered the high end of their full-year depletion and shipment guidance ranges to reflect low-single-digit declines in both, the analyst stated. "While mgmt sounded confident that their wholesaler partners need more inventory to restore service levels, we have some concern, especially considering SAM's depletions were down -2% YTD thru June, suggesting distributors may want to structurally carry less inventory to meet slowing demand," he further wrote.
RBC Capital Markets: "As expected, category pressures were too much to overcome in the near term and resulted in a more muted volume outlook for the year," Modi said. He added, however, that management suggested a bottoming in April.
"Despite the topline pressure, SAM was able to maintain gross margin and EPS guidance in part due to improvements in productivity initiatives across procurement savings, waste and network optimization, and brewery performance," the analyst wrote. However, the gross margin guidance will likely be viewed as "less prudent relative to last quarter," he further wrote.
Piper Sandler: Boston Beer revenue was roughly in-line with expectations. EBIT margins came in lower due to higher costs, even before marketing spending increases in the back half of 2-24, Lavery said. 
"We see upside to SAM&#8217;s gross margin as it further brings production in-house," he added.
Hard Mountain Dew started transitioning to the company's distributor network in May, "with a full transition to new states likely lasting into early 2025," the analyst stated. "We still expect Hard Mtn Dew can be a catalyst in 2025, with shipments to some big new states expected to give a volume boost in 4Q24 ahead of early 2025 sales.&#8221;
SAM Price Action: Shares of Boston Beer Company had risen by 4.93% to $283.87 at the time of publication on Friday.
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Analyst Color

Earnings Misses

Reiteration

Movers

Trading Ideas

Boston Beer Company: Hard Mountain Dew Is Still A Catalyst, 3 Analysts Cut Forecasts After Q2 Results

RBC Capital analyst Nik Modi maintains Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) with a Sector Perform and lowers the price target from $332 to $318.

RBC Capital Maintains Sector Perform on Boston Beer Co, Lowers Price Target to $318

Piper Sandler analyst Michael Lavery maintains Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) with a Overweight and lowers the price target from $344 to $325.

Piper Sandler Maintains Overweight on Boston Beer Co, Lowers Price Target to $325

The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies. `
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Lamb Weston Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>)</h3>
<ul>
<li>On July 24, Lamb Weston reported worse-than-expected fourth-quarter financial results and issued its FY25 earnings per share guidance below estimates. "We expect fiscal 2025 to be another challenging year. The operating environment has changed rapidly over the past twelve months as global restaurant traffic and frozen potato demand softened due to menu price inflation continuing to negatively affect global restaurant traffic," said Tom Werner, President and CEO. The company's stock fell around 33% over the past five days and has a 5<a href="https://www.benzinga.com/quote/LW">2-week low of $52.99</a>.</li>
<li>RSI Value: 15.59</li>
<li>LW Price Action: Shares of Lamb Weston fell 6% to close at $53.01 on Thursday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">latest Lamb Weston news</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="681" height="730" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26065822/Screenshot-2024-07-26-at-4.28.16-PM.png" alt="" class="wp-image-459027" style="width:382px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26065822/Screenshot-2024-07-26-at-4.28.16-PM.png 681w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26065822/Screenshot-2024-07-26-at-4.28.16-PM-280x300.png 280w" sizes="(max-width: 681px) 100vw, 681px" /></a></figure>
<h3 class="wp-block-heading">Boston Beer Company Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>)</h3>
<ul>
<li>On July 25, Boston Beer Company reported worse-than-expected second-quarter financial results. "Our gross margin improvement initiatives continue to take hold, with gross margin expanding over 250 basis points year-to-date, and strong cash flow generation," said chairman and founder Jim Koch. "Depletions were soft in April, but improved as we moved through the quarter. The company's stock fell around 11% over the past month. It <a href="https://www.benzinga.com/quote/SAM">has a 52-week low</a> of $254.40.</li>
<li>RSI Value: 24.15</li>
<li>SAM Price Action: Shares of Boston Beer fell 0.5% to close at $270.52 on Thursday.</li>
<li>Benzinga Pro's charting tool helped identify the <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">trend in SAM stock</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="689" height="745" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26065858/Screenshot-2024-07-26-at-4.28.54-PM.png" alt="" class="wp-image-459028" style="width:413px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26065858/Screenshot-2024-07-26-at-4.28.54-PM.png 689w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26065858/Screenshot-2024-07-26-at-4.28.54-PM-277x300.png 277w" sizes="(max-width: 689px) 100vw, 689px" /></a></figure>
<h3 class="wp-block-heading">Celsius Holdings, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>)</h3>
<ul>
<li>On July 22, B. Riley Securities maintained a Buy rating on the stock but lowered its price target from $110 to $80. The company's stock dipped around 18% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/CELH">low of $44.70</a>.</li>
<li>RSI Value: 29.12</li>
<li>CELH Price Action: Shares of Celsius Holdings gained 1.7% to close at $46.40 on Thursday.</li>
<li>Benzinga Pro's signals feature notified of a potential <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1">breakout in CELH shares</a>.</li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="671" height="749" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26070013/Screenshot-2024-07-26-at-4.30.08-PM.png" alt="" class="wp-image-459031" style="width:413px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26070013/Screenshot-2024-07-26-at-4.30.08-PM.png 671w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26070013/Screenshot-2024-07-26-at-4.30.08-PM-269x300.png 269w" sizes="(max-width: 671px) 100vw, 671px" /></a></figure>
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General

Boston Beer Company shares are trading lower after the company reported worse-than-expected Q2 financial results.

Boston Beer Company Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) reported its second-quarter financial results Thursday. Here's a look at the key figures <a href="https://www.benzinga.com/pressreleases/24/07/g39970023/boston-beer-reports-second-quarter-financial-results">from the report.</a> 
The Details: Boston Beer reported quarterly earnings of $4.39 per share, which missed the analyst consensus estimate of $5.10 by 13.92%. Quarterly sales clocked in at $579.1 million, which missed the analyst consensus estimate of $597.333 million by 3.05% and is a 4.01% decrease from the same period last year.
Boston Beer said depletions decreased 4% and shipments decreased 6.4% in the quarter. Gross margin was 46%, up 60 basis points year-over-year. 
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&#8220;Our gross margin improvement initiatives continue to take hold, with gross margin expanding over 250 basis points year-to-date, and strong cash flow generation,&#8221; said chairman and founder Jim Koch. &#8220;Depletions were soft in April, but improved as we moved through the quarter. While the industry environment remains dynamic, we are seeing early signs of progress on innovation and will use our strong balance sheet to invest in our brands while returning cash to shareholders.&#8221;
Outlook: Boston Beer reaffirmed its full-year guidance of GAAP earnings per share between $7.00 and $11.00, versus the $10.27 estimate.
SAM Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Boston Beer shares are down 5% after-hours at $257 at the time of publication Thursday.
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</ul>
Photo: Shutterstock

Earnings

After-Hours Center

Sam Adams-Parent Boston Beer Reports Q2 Results

Guidance

Boston Beer Reaffirms FY24 GAAP EPS Guidance at $7.00-$11.00 vs $10.27 Est.; Lowers FY24 Depletions and Shipments Percentage Change Guidance From Down Low Single Digit To Up Low Single Digit To Down Low Single Digit To Zero

Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) reported quarterly earnings of $4.39 per share which missed the analyst consensus estimate of $5.10 by 13.92 percent. The company reported quarterly sales of $579.100 million which missed the analyst consensus estimate of $597.333 million by 3.05 percent. This is a 4.01 percent decrease over sales of $603.304 million the same period last year.

Boston Beer Co Q2 2024 GAAP EPS $4.39 Misses $5.10 Estimate, Sales $579.100M Miss $597.333M Estimate

Boston Beer Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) short percent of float has fallen 15.79% since its last report. The company recently reported that it has 278 thousand shares sold short, which is 3.04% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.75 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Boston Beer Co Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721233831_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Boston Beer Co has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Boston Beer Co's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Boston Beer Co's peer group average for short interest as a percentage of float is 5.24%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Boston Beer Co?

Deutsche Bank analyst Steve Powers maintains Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) with a Hold and raises the price target from $273 to $283.

Deutsche Bank Maintains Hold on Boston Beer Co, Raises Price Target to $283

In the preceding three months, 6 analysts have released ratings for Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>), presenting a wide array of perspectives from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
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</tr>
<tr>
<td>Last 30D</td>
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<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Boston Beer Co, revealing an average target of $317.83, a high estimate of $360.00, and a low estimate of $273.00. This current average has decreased by 2.8% from the previous average price target of $327.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1720792889_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
A comprehensive examination of how financial experts perceive Boston Beer Co is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Lavery</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$344.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Eric Sheridan</td>
<td>Morgan Stanley</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$290.00</td>
<td>$290.00</td>
</tr>
<tr>
<td>Kaumil Gajrawala</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$360.00</td>
<td>$335.00</td>
</tr>
<tr>
<td>Steve Powers</td>
<td>Deutsche Bank</td>
<td>Announces</td>
<td>Hold</td>
<td>$273.00</td>
<td>-</td>
</tr>
<tr>
<td>Eric Serotta</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$325.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Filippo Falorni</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$315.00</td>
<td>$350.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Boston Beer Co. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Boston Beer Co compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Boston Beer Co's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Boston Beer Co's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SAM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Boston Beer Co analyst ratings.</a>
<h2>Get to Know Boston Beer Co Better</h2>
Boston Beer is a top player in high-end malt beverages and adjacent categories in the us, with strong positions in craft beer, flavored malt beverages, hard cider, and hard seltzer. The bulk of volume and revenue is concentrated in four brands: Samuel Adams, Angry Orchard, Twisted Tea, and Truly. Beverages are produced using a hybrid model leveraging both in-house capacities and third-party breweries through contract arrangements. While the firm is required to use distributors to reach end markets, including retailers and on-premises operators, it also employs 500 internal sales representatives to educate the market about its products. The firm generates over 95% of sales in the us.
<h3>Boston Beer Co's Economic Impact: An Analysis</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Over the 3 months period, Boston Beer Co showcased positive performance, achieving a revenue growth rate of 3.92% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Consumer Staples sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 2.96%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Boston Beer Co's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 1.19%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Boston Beer Co's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.9%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Boston Beer Co's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.04.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Boston Beer Co: 6 Analysts Share Their Views

Piper Sandler analyst Michael Lavery maintains Boston Beer Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) with a Overweight and lowers the price target from $350 to $344.

Piper Sandler Maintains Overweight on Boston Beer Co, Lowers Price Target to $344

The Boston Beer Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sam#NYSE">SAM</a>) has retained its niche in the market, driven by its progress on its Beyond Beer strategy, the premiumization of the beer industry and robust trends for its twisted tea brand. Additionally, the company&#39;s innovation, intensified attention to pricing and product portfolio expansion efforts bode well. 
SAM is on track with the expansion of its Beyond Beer category, which includes exploring categories other than beer. Beyond Beer is growing faster than the traditional beer market, and the company expects this trend to continue for several years. SAM&#39;s advancement in the non-beer categories, including ciders and hard seltzer, as well as brand-building efforts, is expected to fortify its position in the market. 
Boston Beer is on track with growth of its Beyond Beer category, wherein it currently holds the second position. The company expects the trend to continue for the next several years. 
However, weak depletions, along with continued challenges in the hard seltzer category, acted as deterrents. The slowed consumer demand for hard seltzers has been hurting the company&#39;s performance, with marked declines noted for the Truly brand in recent quarters. 
Consequently, shares of the Zacks Rank #3 (Hold) company have lost 17.2% in the year-to-date period compared with the industry&#39;s decline of 11.5%. SAM also compared unfavorably with the Consumer Staples sector&#39;s growth of 0.7% and the S&amp;P 500&#39;s improvement of 7.6% in a year.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/5b/68839.jpg?v=1409913459" /> 
Image Source: Zacks Investment Research
<h3>Other Strategies in Focus</h3>
Boston Beer&#39;s pricing, product innovation and growth of non-beer categories alongside brand development efforts bode well. The company has been benefiting from strong price realization and procurement savings, which more than offset increased inflationary costs. 
SAM&#39;s focus on innovation to revive the Truly brand and expand Twisted Tea&#39;s potential bodes well. Boston Beer is keen on bringing excitement to the Truly brand&#39;s core flavors through innovation. The firm expects to improve the Truly brand&#39;s trends through a renewed focus on core business, smart brand innovation, and strong distributor support and retail execution. The company&#39;s Truly flavored bottle Vodka and Truly Vodka Seltzer have been performing well. 
Twisted Tea is the brand that drove most growth for Boston Beer in first-quarter 2024. Being one of the fastest-growing brands, Twisted Tea rose in the double-digits. Improved geographic, channel and package distribution; effective brand-building campaigns; increased media investment; and optimized packaging design have been aiding the performance of the Twisted Tea brand. 
The growing awareness of the Twisted Tea brand and household penetration also bode well. The company further expanded its light portfolio offerings with a new variety pack available in select highly developed markets and has received positive feedback for the same. 
In recent years, Boston Beer has implemented strategic pricing actions that have boosted its position in the competitive landscape. Craft beer enthusiasts are known for their willingness to pay a premium for unique and high-quality brews. SAM has leveraged this consumer mindset by strategically pricing its products to reflect the craft beer experience it offers. 
The company is optimistic about continued pricing gains in the near term. It estimates price increases of 1-2% for 2024.
<h3>Major Setbacks</h3>
Boston Beer&#39;s first-quarter 2024 results reflected continued softness in depletions and challenges in the hard seltzer category. The hard seltzer category&#39;s decelerating trend has mainly been attributed to the loss of novelty among consumers due to the entry of several beyond beer products in the marketplace. The decline has also resulted from the ongoing dismal macroeconomic environment, which has caused a volume shift from hard seltzers to premium light beers due to their lower pricing. The slowed hard seltzer sales continued to impact the company&#39;s Truly hard seltzer performance. 
In 2024, the hard-seltzer category is likely to remain under pressure and management anticipates category volume declines in the low teens. Depletions and shipments are expected between a low-single-digit decline and a low-single-digit increase for 2024.
<h3>Key Picks</h3>
We have highlighted three better-ranked stocks from the Consumer Staple sector, namely The Vita Coco Company Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coco#NASDAQ">COCO</a>), Vital Farms (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vitl#NASDAQ">VITL</a>) and PepsiCo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>). 
Vita Coco, a producer and marketer of coconut water products under the Vita Coco brand name, currently flaunts a Zacks Rank of 1 (Strong Buy). COCO has a trailing four-quarter earnings surprise of 25.3%, on average. 
The Zacks Consensus Estimate for COCO&#39;s current financial-year sales and earnings suggests growth of 3.5% and 40.5%, respectively, from the year-ago reported figures. 
Vital Farms offers a range of produced pasture-raised foods. VITL presently sports a Zacks Rank of 1. It has a trailing four-quarter earnings surprise of 102.1%, on average. 
The consensus estimate for Vital Farms&#39; current financial year&#39;s sales and earnings per share indicates growth of 22.5% and 59.3%, respectively, from the year-ago reported figures. 
PepsiCo, a leading global food and beverage company, currently carries a Zacks Rank #2 (Buy). PEP has a trailing four-quarter earnings surprise of 5.1%, on average. 
The Zacks Consensus Estimate for PEP&#39;s current financial-year sales and earnings indicates growth of 3.4% and 7.1%, respectively, from the year-earlier actuals.
<a href="https://www.zacks.com/stock/news/2288642/can-boston-beer-s-sam-beyond-beer-expansion-aid-growth?cid=CS-BENZ-FT-analyst_blog|rank_focused-2288642">To read this article on Zacks.com click here.</a>

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Can Boston Beer's Beyond Beer Expansion Aid Growth?

Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) has expressed interest in merging with Boston Beer (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sam#NYSE">SAM</a>), according to a recent report by Pablo Zuanic of Zuanic &amp; Associates. What strategic advantages does this merger offer? How will this impact the profitability of both companies? Could this merger set a precedent for future deals in the cannabis and beverage industries?
Zuanic&rsquo;s report presents the implications for investors of this potential merger, as it could reshape the <a href="https://www.benzinga.com/topic/cannabis-beverages">cannabis and beverage sectors</a>.
<h3>$3 Billion In Proforma 2023 Revenues</h3>
Boston Beer shares rose by 30% following a report of Suntory (OTC: <a class="ticker" href="https://www.benzinga.com/stock/stbfy#OTC">STBFY</a>) being in talks to <a href="https://www.benzinga.com/markets/cannabis/24/06/39170559/chicago-cannabis-company-green-thumb-proposes-merger-with-boston-beer-eyes-stock-listing">acquire the company</a>. On June 4th, a letter from Green Thumb CEO Ben Kovler to Boston Beer chairman Jim Koch was revealed, expressing interest in a merger. According to the report, despite Green Thumb issuing a statement refusing to comment on market rumors, the details suggest this is more than mere speculation.
A <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39196475/why-financial-firm-jefferies-sees-value-in-green-thumb-boston-beer-merger">merger between Green Thumb and Boston Beer </a>would create a company with $3 billion in proforma 2023 revenues, with two-thirds from SAM.
Zuanic&rsquo;s report explains SAM&#39;s revenues are projected to increase by 2% in 2024, while Green Thumb&#39;s are expected to grow by 15%. Despite higher sales, SAM operates in a flat to declining industry, whereas Green Thumb is in a growth sector.
Green Thumb&#39;s 31% adjusted EBITDA margin in 2023 surpasses SAM&#39;s 10.5%, highlighting the cannabis company&#39;s profitability.
&quot;While SAM sales are 2x those of Green Thumb, the latter is more profitable. Adjusted EBITDA margins at GTBIF in CY23 were 31% ($326Mn) vs. 10.5% for SAM ($210Mn), with reported gross margins of 50% vs. 42%, respectively. Reported EBIT margins at SAM were 10.5% in 2023 and 17.5% at Green Thumb. For proforma calculations we would estimate at most 3% cost synergies (some back-office functions and corporate overheads), as there is not much overlap,&quot; reads the report.&nbsp;
<h3>Financial Considerations</h3>
Financially, Green Thumb&#39;s<a href="https://www.benzinga.com/markets/cannabis/24/05/38716589/green-thumb-industries-revenue-increases-11-in-q1-2024-were-off-to-a-great-start-says-pres"> net debt</a> stood at $147 million at the end of 2023, with a manageable <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38805354/analysts-may-need-to-revise-cannabis-stock-projections-for-2024-10-companies-surpas">0.5x EBITDA</a>, while SAM had $298 million in cash and no financial debt.
According to Zuanic, a&nbsp;cash offer for SAM would significantly increase Green Thumb&#39;s leverage, making it an unlikely scenario. An <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38656307/big-players-in-u-s-cannabis-could-play-the-stock-value-card-in-m-a-new-report-shows">equity-based offer</a>, either 50/50 or 100%, would be more feasible and beneficial for both parties.
<h3>Strategic Benefits And Industry Impact</h3>
The merger would provide SAM with a platform for growth and profitability, while Green Thumb would gain<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39076254/top-ohio-cannabis-companies-analyst-look-at-stocks-with-potential-market-cap-gains"> strategic advantages</a>, including an indirect NASDAQ listing.
Current trading multiples show SAM at 1.3x forward sales and 10.3x EBITDA, compared to Green Thumb at 2.8x and 9x, respectively.
This potential merger could trigger other <a href="https://www.benzinga.com/general/biotech/23/03/31227249/from-controversial-to-profitable-why-nestl-procter-gamble-pepsico-and-other-cpg-brands-should-emb">consumer packaged goods companies</a> to explore opportunities in the cannabis sector.
The move aligns with the strategies of companies like Canopy Growth (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) and Tilray (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>), which have made similar moves.
With <a href="https://www.benzinga.com/markets/cannabis/24/05/38881456/bidens-greenlight-what-to-know-about-fed-regulated-marijuana-markets-legal-circuits-and-complian">federal rescheduling </a>of cannabis <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38905962/cannabis-rescheduling-when-will-it-happen-expert-lays-out-timeline-risks-and-wild-c">likely before January 2025</a>, this could be a critical window for such <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38969916/514m-tax-breaks-await-this-marijuana-company-with-rescheduling-market-cap-set-to-so">mergers and acquisitions</a>.
Learn more about leading cannabis companies and stocks, at&nbsp;the&nbsp;<a href="https://cannabismarketspotlight.com/" rel="noopener noreferrer" target="_blank">Benzinga Cannabis Market Spotlight</a>&nbsp;in New Jersey on June 17th! Grow your business, raise money, and capitalize on the booming NJ recreational market. Don&rsquo;t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-market-spotlight-new-jersey-cannabis-registration-871406729987?discount=JAVIER20" rel="noopener noreferrer" target="_blank">Use the code &quot;JAVIER20&quot; for 20% off!</a>
Photo: AI-Generated Image.&nbsp;

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