Boston Beer Increases Stock Repurchase Limits

On October 10, Boston Beer (SAM) filed with the SEC to increase its stock repurchase program limit. According to the filing, the Board of Directors met on October 5 to increase the stock repurchase allocation to $931 million. Boston Beer is a brewing company that is the parent company of the brands Sam Adams and Angry Orchard.

 

Sonal detected the event on October 10 at 4:45 pm. The next trade took place at 9:30 am on October 11 for $168.80.

The stock prices increased throughout the day on October 11 before closing at $171.15. Over the next four trading days, Boston Beer’s stock price continued to rise. The stock closed at $178.85 on October 17, which was a gain of almost 6% in the days following the event.

 

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