Opened a new position in SAM yesterday at $520. Would be happy to keep adding to this initial position if the price continues into free fall.
This is one of those companies I've watched for years, and never pulled the trigger because the valuation was so high. It's not cheap by any means, but regardless of the short term ups and downs, I think this one is well positioned in the craft brew segment (and seltzer too) with good margins, ROIC, long term tailwinds, and (hopefully) pricing power.
I think a rollup type strategy could be very effective here with high multiple, strong balance sheet, and lots of privately held subscale craft brewers as potential targets.
