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Boston Beer (SAM) Plans to Develop Cannabis Research Hub
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The Boston Beer Company, Inc. (SAM - Free Report) revealed plans to work on non-alcoholic cannabis beverages with sheer innovation and learning. To this end, the company is on track to develop a subsidiary that will serve as a beverage research and innovation hub in Canada. Through the latest beverage subsidiary, management looks to evolve and tap the growing opportunities in the cannabis space. Management expects non-alcoholic cannabis beverages to represent a new frontier of innovation. Therefore, it plans to be ready for future opportunities in the United States.
We note that Boston Beer has employed industry veteran Paul Weaver to lead this beverage research hub in the federally regulated market of Canada. Management expects the beverage subsidiary to help the company develop unique cannabis beverages, as cannabis regulations continue to evolve in the United States and worldwide.
The producer of Samuel Adams and Truly Hard Seltzer brands, Boston Beer seeks to offer customers new options while accomplishing its mission of serving high-quality and tasty products. Markedly, the company has made successful innovations in craft beer, hard cider and hard iced tea categories.
What’s More?
Boston Beer is the leading premium craft brewer in the United States and commands a strong portfolio of globally recognized brands. Encouragingly, the company’s persistent focus on pricing, product innovation, growth of non-beer categories alongside brand development to boost its operational performance and position in the market is encouraging. The company’s innovation in non-beer categories including hard teas, ciders and seltzer has been a hit among liquor drinkers, which should continue to drive growth.
Boston Beer remains committed to the three-point growth plan that is focused on the revival of Samuel Adams and Angry Orchard brands, cost-saving initiatives as well as long-term innovation. Also, Boston Beer has been witnessing robust trends for Truly Hard Seltzer and Twisted Tea brands, which is driving depletions. During first-quarter 2021, depletions grew 48%, marking the 12th successive quarter of double-digit growth in depletions.
Impressively, this Zacks Rank #3 (Hold) stock has increased 20.6% in the past six months, outperforming the industry’s 15.1% rally.
US Foods Holding Corp. (USFD - Free Report) delivered an average earnings surprise of 3.4% in the last four quarters. It also has a Zacks Rank #1.
Compania Cervecerias Unidas, S.A. (CCU - Free Report) has an expected long-term earnings growth rate of 11% and currently holds a Zacks Rank #2 (Buy).
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Boston Beer (SAM) Plans to Develop Cannabis Research Hub
The Boston Beer Company, Inc. (SAM - Free Report) revealed plans to work on non-alcoholic cannabis beverages with sheer innovation and learning. To this end, the company is on track to develop a subsidiary that will serve as a beverage research and innovation hub in Canada. Through the latest beverage subsidiary, management looks to evolve and tap the growing opportunities in the cannabis space. Management expects non-alcoholic cannabis beverages to represent a new frontier of innovation. Therefore, it plans to be ready for future opportunities in the United States.
We note that Boston Beer has employed industry veteran Paul Weaver to lead this beverage research hub in the federally regulated market of Canada. Management expects the beverage subsidiary to help the company develop unique cannabis beverages, as cannabis regulations continue to evolve in the United States and worldwide.
The producer of Samuel Adams and Truly Hard Seltzer brands, Boston Beer seeks to offer customers new options while accomplishing its mission of serving high-quality and tasty products. Markedly, the company has made successful innovations in craft beer, hard cider and hard iced tea categories.
What’s More?
Boston Beer is the leading premium craft brewer in the United States and commands a strong portfolio of globally recognized brands. Encouragingly, the company’s persistent focus on pricing, product innovation, growth of non-beer categories alongside brand development to boost its operational performance and position in the market is encouraging. The company’s innovation in non-beer categories including hard teas, ciders and seltzer has been a hit among liquor drinkers, which should continue to drive growth.
Boston Beer remains committed to the three-point growth plan that is focused on the revival of Samuel Adams and Angry Orchard brands, cost-saving initiatives as well as long-term innovation. Also, Boston Beer has been witnessing robust trends for Truly Hard Seltzer and Twisted Tea brands, which is driving depletions. During first-quarter 2021, depletions grew 48%, marking the 12th successive quarter of double-digit growth in depletions.
Impressively, this Zacks Rank #3 (Hold) stock has increased 20.6% in the past six months, outperforming the industry’s 15.1% rally.
Key Picks in the Consumer Staples Space
Medifast, Inc. (MED - Free Report) delivered an average earnings surprise of 12.7% in the last four quarters and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
US Foods Holding Corp. (USFD - Free Report) delivered an average earnings surprise of 3.4% in the last four quarters. It also has a Zacks Rank #1.
Compania Cervecerias Unidas, S.A. (CCU - Free Report) has an expected long-term earnings growth rate of 11% and currently holds a Zacks Rank #2 (Buy).
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>