Boston Beer Introduces a Line of Alcohol-Free Cannabis Cocktails

The Boston Beer Company, Inc. SAM has been making strategic initiatives to aid growth. SAM’s consistent focus on pricing, product innovation and growth of non-beer categories, alongside brand development, bodes well. In the latest update, the company has launched Emerald Hour, which is a lineup of non-alcoholic Cali Sober cannabis cocktails.More on SAM’s Latest AnnouncementEmerald Hour mixes fresh-frozen cannabis extracts with regionally-sourced cocktail ingredients to bring an incredible full-spectrum beverage experience. Each 355mL can is made without any chemical solvents, consisting of 10mg of THC. Hence, the latest launch is a suitable preference for consumers looking for an enjoyable, booze-free happy hour.Emerald Hour will initially offer two delicious cocktail styles, which are Cranberry-Citrus and Ginger-Lime. Cranberry-Citrus will be a modern real lime and cranberry juice while Ginger-Lime will be crafted with specially selected ginger extracts that will be a spicy mule free of alcohol. However, other styles are planned to be launched through the next year.Apart from the Emerald Hour lineup, TeaPot cannabis-infused iced teas as well as iconic drinks like Truly Hard Seltzer, Samuel Adams and Twisted Tea have been popular. The latest launch, Emerald Hour are rosin-infused beverages, which offers a great cannabis beverage experience and brings premium alternatives to alcohol. It is currently available at licensed cannabis retailers in Ontario.More on Boston BeerOver the past three months, SAM’s shares have gained 17.4% against the industry’s 8% decline.Image Source: Zacks Investment ResearchBoston Beer is keen on innovating core flavors. The company expects to improve Truly brand trends through a renewed focus on core business, smart brand innovation and strong distributor support and retail execution. The company's Truly flavored bottle Vodka and Truly Vodka Seltzer have been performing well. Regarding the innovation of the core flavors, the company announced the reformulation and improvement of core Truly flavors, including the addition of real fruit juice for an even smoother, easy-to-drink and refreshing taste.We note that Boston Beer is benefiting from strong price realization and procurement savings, which have more than offset increased inflationary costs. These factors have been aiding gross margins for a while. In addition, SAM commands a strong portfolio of globally recognized brands. Despite these strengths, Boston Beer has been witnessing weak depletions, along with continued challenges in the hard seltzer category, for a while now. The hard seltzer category’s decelerating trend is mainly attributed to the loss of novelty among consumers due to the entry of several beyond-beer products in the marketplace. Additionally, the decline has resulted from the tough macroeconomic environment, which has caused a volume shift from hard seltzers back to premium light beers due to their lower pricing. Nevertheless, Boston Beer is focused on the revival of its Samuel Adams and Angry Orchard brands, cost-saving initiatives and long-term innovation. This Zacks Rank #3 (Hold) company believes that there is an opportunity for Hard Mountain Dew within the expanded pack sizes and channels.Stocks to Consider in Consumer Staples SpaceFreshpet, Inc. FRPT, a pet food company, has a trailing four-quarter average earnings surprise of 132.9%. FRPT currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Freshpet’s current financial-year sales and earnings per share (EPS) indicates growth of 27.3% and 224.3%, respectively, from the prior-year levels.Vital Farms VITL, which provides pasture-raised products, currently sports a Zacks Rank of 1. The consensus estimate for Vital Farms’ current financial-year sales and EPS indicates growth of 27.3% and 88.1%, respectively, from the prior-year levels.VITL has a trailing four-quarter average earnings surprise of 48.5%.McCormick & Company MKC, manufacturer and distributor of spices, seasonings, specialty foods and flavors, currently carries a Zacks Rank #2 (Buy). MKC has a trailing four-quarter average earnings surprise of 13.8%.The Zacks Consensus Estimate for MKC’s current financial-year sales and EPS indicates growth of 0.6% and 8.2%, respectively, from the year-ago figures.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Freshpet, Inc. (FRPT): Free Stock Analysis Report McCormick & Company, Incorporated (MKC): Free Stock Analysis Report The Boston Beer Company, Inc. (SAM): Free Stock Analysis Report Vital Farms, Inc. (VITL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks