US: A-B executives cash in big on share sales
Six executives at Anheuser-Busch have sold more than US$24m worth of shares in the brewer.
The executives - including chairman August A. Busch III - sold over 512,000 shares in the past week, for an average price of US$47.94. The transactions were confirmed in a filing with the Securities and Exchange Commission.
Busch sold the largest amount of stock - 300,000 at an average price of US$47.92 each. The sale netted the chairman around US$14.4m. Busch still has direct ownership of a further 1.45m shares, while indirectly - through his wife, his 401(k) plan and various trusts - he holds another 3.21m shares.
Speaking to Dow Jones yesterday (1 August), a spokesperson for the brewer said; "Anheuser-Busch executives make decisions to buy or sell company shares for personal reasons, and are allowed to buy or sell company shares when public information about the company is current."
"Many of the transactions involve the exercise of employee stock options that were granted many years ago, and all of our executive officers continue to have substantial holdings in company stock," the spokesperson added.
Last week, the Budweiser brewer posted a 3.9% rise in first-half net income to US$1.1bn, on the back of a 5.7% increase in net sales. The figures were driven by revitalised domestic beer sales and an impressive performance by Grupo Modelo, the Mexican brewer in which A-B holds a 50% stake.
Anheuser-Busch has called time on its sponsorship of the UK's Glastonbury music festival. The brewer, which had been a sponsor of the three-day event since 2002, has not renewed its deal, which ended ...
Crown Imports has unveiled its first US television advertisement for Modelo-owned beer brand Pacifico....
Two beer veterans have joined a brewer which is targeting wheat- and barley-intolerant beer drinkers....
Anheuser-Busch has stayed silent on reports in India that it has decided on a local venture partner in the fast-growing beer market....
Anheuser-Busch is introducing online age-verification for its Internet entertainment network....
Carlsberg is in talks to distribute the flagship beer of Czech state-owned brewer Budejovicky Budvar....
Moody's has lowered its long-term rating of Anheuser-Busch to A2 from A1 following a review of the US brewer....
Czech brewer Budejovicky Budvar saw its overseas sales rise 7% last year thanks to growing demand across its key export markets....
- It's not all bad for Diageo - Analysis
- Focus - Diageo's FY Performance by Brand
- Diageo upbeat on Scotch prospects
- Heineken CEO spies trouble ahead for UK
- Focus - Diageo's FY Performance by Region
- Diageo puts Bacardi in frame with white rum ads
- Edrington appoints new board director
- Challenges remain as Diageo posts flat FY sales
- Heineken ups sales, profits despite volume squeeze
- Mast-Jagermeister closes Sidney Frank buy
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research