THE BOSTON BEER COMPANY, INC.
boothcheck covers THE BOSTON BEER COMPANY, INC. (SAM) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed June 28, 2026.
- At about $175.63 the market pays roughly 6x mid-cycle operating income, low enough that the price sits below what even a 5%-a-year operating-profit decline would warrant. The price is set against normalized, through-cycle margins, not the depressed trailing quarter. - The cash-flow methods bracket the quote: free-cash-flow yield marks about $206 and the share-buyback-adjusted version about $183, both near or above the $176 price, against a balance sheet with $163 million net cash and almost no
Is SAM overvalued? See what's priced in →
353 institutional managers reported holding SAM in 13F filings for the quarter ended 2026-03-31. Together they hold about 74% of the company; the top 10 hold 40%. 66 opened new positions that quarter. Held by Vanguard Group, BlackRock, AQR Capital, among others. On the short side, 1.6M shares were sold short as of the 2026-06-15 count, about 15% of shares outstanding (6.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
SAM has cut its share count 14.8% over the past five years, spending $557.26M on repurchases. It pays no dividend. Cash returned over the past three years: $511.38M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at SAM over the trailing three years. Absence is a fact about the company, not a signal. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
SAM's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-28 | +16.6% | +6.7% |
| 2023-10-27 | -14.2% | +8.3% |
| 2024-02-28 | -13.6% | -11.4% |
| 2024-04-26 | -3.6% | +7.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
SAM's latest 8-K filings: 2026-08-11 (items 8.01); 2026-07-23 (items 2.02, 9.01); 2026-06-01 (items 5.01, 8.01); 2026-06-01 (items 8.01); 2026-05-19 (items 8.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.