Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
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Boston Beer Reports Third Quarter 2016 Results
October 20, 2016 4:16 PM EDTBOSTON, Oct. 20, 2016 /PRNewswire/ -- The Boston Beer Company, Inc. (NYSE: SAM) reported third quarter 2016 net revenue of $253.4 million, a decrease of $39.7 million or 14% from the third quarter of 2015, mainly due to a decline in shipments of 12% and decreased revenue per barrel due to product mix.  Net income for the third quarter was $31.5 million, or $2.48 per diluted share, a decrease of $0.37 per diluted share from the third quarter of 2015. This decrease was primarily due to decreases in net revenue and a decrease in gross margin, partially offset by decreased advertising, promotional and... More
