Boston Beer Gets a Hold Rating from Jefferies

By Jason Carr

In a report released yesterday, Kevin Grundy from Jefferies reiterated a Hold rating on Boston Beer (NYSE: SAM), with a price target of $129. The company’s shares closed yesterday at $143.60, close to its 52-week low of $135.10.

According to, Grundy is a 5-star analyst with an average return of 6.4% and a 80.7% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Spectrum Brands Holdings, Estee Lauder Companies, and Edgewell Personal Care.

Currently, the analyst consensus on Boston Beer is Moderate Buy and the average price target is $155.33, representing an 8.2% upside.

In a report issued on May 26, RBC Capital also reiterated a Hold rating on the stock with a $158 price target.

Based on Boston Beer’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $162 million and quarterly net profit of $5.71 million. In comparison, last year the company earned revenue of $189 million and had a net profit of $7.03 million.

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. Earlier this month, David Grinnell, the VP of Brewing of SAM sold 372 shares for a total of $53,218.

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Boston Beer Co., Inc. engages in the business of producing and selling alcoholic beverages. It produces malt beverages and hard cider products at company owned breweries and under contract arrangements at other brewery locations. The company operates through the following segments: Boston Beer Company and A&S Brewing Collaborative. The Boston Beer Company segment is comprised of the Samuel Adams, Twisted Tea and Angry Orchard brands. The A&S Brewing Collaborative operating segment includes Angel City Brewing Company and Concrete Beach Brewing Company. Boston Beer was founded by C. James Koch in 1984 and is headquartered in Boston, MA.