Jefferies also cut its price target to $332 from $360. Copyright © 2020 MarketWatch, Inc. All rights reserved. Subscriber Agreement & Terms of Use Updated 10/22/2020 I want to take some profit from a mutual fund investment. What's a hard seltzer, sometimes called a spiked seltzer (though for the record, "Spiked Seltzer" is also a brand name)? The company’s shipments to distributors rose 30.5 percent in the third quarter, year over year, while depletions from distributors of Boston Beer products rose 36 percent. “For us, not to be growing significantly is an unusual and very uncomfortable state.”. In retrospect, investors spent the last few months focused on the wrong thing. For investors in this stock, the good cheer continues: At $1,091.10 per share on Friday afternoon, the price is now nearly three times what it was when the COVID-19 pandemic hit in March. You can follow her on Twitter @tgarcianyc. They've actually been around for years, but 2017 was a real coming out year for the category. Boston Beer founder Jim Koch has reason to celebrate with the success of its Truly seltzer brand. Hard seltzer could grow to be a $2.5 billion beverage category by 2021, according to analysis by UBS. BUD, Sharma didn't numerically detail what he meant by "require a sizable multiple expansion," and whatever valuation multiple nagged at him has only worsened thanks to the 13% gain SAM shares have made since BMO's upgrade in late September. Cumulative Growth of a $10,000 Investment in Stock Advisor, Hard Seltzer Makes Boston Beer a Buy Again, Almost @themotleyfool #stocks $TAP $STZ $BUD $SAM, Molson Coors Brewing Co (TAP) Q3 2020 Earnings Call Transcript, Molson Coors Has More than Coronavirus Issues, How COVID-19 Has Flattened Molson Coors' Business, Copyright, Trademark and Patent Information. Don’t miss:A beer-sake hybrid will have you rethinking the Japanese rice wine. She noted, "Truly is far outpacing our estimates with additional room to run next year, even as White Claw remains the category leader.". Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. “We are going to fight, like, until the end to make sure we are a very strong number two, or ideally, number one,” Burwick said, The company’s shipments to distributors rose 30.5 percent in the third quarter, year over year, while depletions from distributors of Boston Beer products rose 36 percent. It's pretty clear, however, that he's not calling for a monster-sized setback in the stock's price. Koch also talked up the 2021 national rollout of a nonalcoholic Sam Adams beer, dubbed Just the Haze, that he pledges is as good as a traditional IPA. He sees shares hitting $22, up from Friday’s close of $10.86. Now, both key measures are projected to grow by at least 37 percent for the full year, compared to at least 27 percent in the prior estimate. Jon Chesto can be reached at jon.chesto@globe.com. “In the context of categories, we believe that the age and regional exposures present a modest risk to the explosive growth trajectory of hard seltzer, given the category’s younger skew and relative strength on the coasts,” UBS analysts led by Sean King wrote. has rallied almost 19% for 2019 so far. How Monster Beverage Stock Might Benefit From a Hard Seltzer Product. In particular, Burwick said Truly Lemonade has led the way this year. +2.30% Stock Advisor launched in February of 2002. The end result is a valuation most investors might not like. After twenty years of professional experience in and around the market, his approach is one that combines fundamentals, sentiment, and common sense. Hopes are high at Boston Beer for a 100-calorie seltzer drink to be launched in early 2021, Truly Iced Tea Hard Seltzer. While it isn't necessarily healthy, hard seltzer has made its way into the hearts and bellies of more health-conscious alcohol drinkers. And although rival Anheuser-Busch InBev (NYSE:BUD) controls twice as much share of the hard seltzer market with its White Claw brand and drove 289% growth in sales volume last year, Boston Beer's Truly line of these seltzers saw 278% growth in volume in 2018. It was BMO analyst Amit Sharma who brought some reason to the table a month ago, though, when he commented along with his upgrade that, "SAM is one of the rare staples growth investments that doesn't require a sizable multiple expansion to 'work' as merely a better assessment of its growth potential signals material upside from current levels.".
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