Boston Beer stock spike on seltzer drink sales
Boston Beer Company popular spiked seltzer drinks has boosted its stock performance over the course of a year.
The maker of Samuel Adams has seen its shares climb 24 percent from the sales of hard cider, spiked tea and seltzer.
Barron's senior editor Jack Hough told FOX Business he is cautious of the company’s evaluation.
“I don’t know if people are going to be as loyal to their favorite brand of spiked seltzer going forward,” he said on Monday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SAM | BOSTON BEER CO. INC. | 307.22 | +7.14 | +2.38% |
| BUD | ANHEUSER-BUSCH INBEV | 57.82 | +0.55 | +0.96% |
| TAP | MOLSON COORS BEVERAGE CO. | 56.73 | +0.21 | +0.37% |
Samuel Adams Boston Lager, the company’s flagship brew, makes up an estimated quarter of the company’s sales. But beer giants Anheuser-Busch InBev and MillerCoors are entering the seltzer game and crowding the market.
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Despite its popularity among the younger generation, Hough said he doesn’t think spiked seltzer can sustain a company in the long run.
“Everybody wants share in spiked seltzer,” Hough said on “Varney & Co.” “It’s about to get very competitive right now.”