PNC Financial Services Group Inc. Has $443,000 Holdings in The Boston Beer Company, Inc. (NYSE:SAM)

PNC Financial Services Group Inc. lessened its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,282 shares of the company’s stock after selling 97 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boston Beer were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Boston Beer by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 918,502 shares of the company’s stock valued at $317,425,000 after purchasing an additional 21,060 shares during the period. Virtu Financial LLC acquired a new stake in Boston Beer during the 4th quarter valued at approximately $628,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Boston Beer by 4.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 6,894 shares of the company’s stock worth $2,382,000 after buying an additional 271 shares in the last quarter. American Trust bought a new position in shares of Boston Beer during the 4th quarter worth approximately $255,000. Finally, Quarry LP bought a new position in shares of Boston Beer during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 81.13% of the company’s stock.

Insider Activity

In other news, insider Carolyn L. O’boyle sold 101 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $303.49, for a total transaction of $30,652.49. Following the completion of the sale, the insider now directly owns 7,029 shares of the company’s stock, valued at approximately $2,133,231.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 23.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SAM. Citigroup cut their price target on Boston Beer from $350.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Jefferies Financial Group upgraded Boston Beer from a “hold” rating to a “buy” rating and increased their price target for the stock from $335.00 to $360.00 in a report on Tuesday, May 14th. Morgan Stanley upgraded Boston Beer from an “underweight” rating to an “equal weight” rating and set a $290.00 price target on the stock in a report on Wednesday, June 5th. The Goldman Sachs Group cut their target price on Boston Beer from $257.00 to $250.00 and set a “sell” rating on the stock in a report on Tuesday, April 9th. Finally, Evercore ISI increased their target price on Boston Beer from $310.00 to $325.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $335.00.

Boston Beer Trading Up 0.8 %

Shares of NYSE:SAM opened at $304.90 on Friday. The stock’s fifty day simple moving average is $284.96 and its two-hundred day simple moving average is $313.79. The Boston Beer Company, Inc. has a 1-year low of $254.40 and a 1-year high of $395.52. The stock has a market cap of $3.64 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09.

Boston Beer (NYSE:SAM) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.96. Boston Beer had a return on equity of 10.11% and a net margin of 4.60%. The business had revenue of $426.05 million for the quarter, compared to analysts’ expectations of $414.18 million. On average, sell-side analysts forecast that The Boston Beer Company, Inc. will post 10.25 earnings per share for the current fiscal year.

Boston Beer Profile

The Boston Beer Company, Inc produces and sells alcohol beverages primarily in the United States. The company's flagship beer is Samuel Adams Boston Lager. It offers various beers, hard ciders, flavored malt beverages, and hard seltzers under the Samuel Adams, Twisted Tea, Truly, Angry Orchard, Dogfish Head, Angel City, and Coney Island brand names.