PNC Financial Services Group Inc. Purchases 84 Shares of The Boston Beer Company, Inc. (NYSE:SAM)

PNC Financial Services Group Inc. lifted its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,332 shares of the company’s stock after purchasing an additional 84 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Boston Beer were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in Boston Beer by 7.8% during the third quarter. State Street Corp now owns 292,643 shares of the company’s stock worth $84,615,000 after acquiring an additional 21,276 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Boston Beer by 27.1% during the fourth quarter. Fisher Asset Management LLC now owns 160,419 shares of the company’s stock worth $48,122,000 after purchasing an additional 34,176 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Boston Beer by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,356 shares of the company’s stock valued at $28,305,000 after purchasing an additional 4,675 shares during the period. Global Alpha Capital Management Ltd. acquired a new position in shares of Boston Beer in the 4th quarter valued at approximately $23,349,000. Finally, Quantinno Capital Management LP increased its stake in Boston Beer by 647.7% during the 3rd quarter. Quantinno Capital Management LP now owns 21,064 shares of the company’s stock worth $6,090,000 after purchasing an additional 18,247 shares in the last quarter. Institutional investors and hedge funds own 81.13% of the company’s stock.

Boston Beer Price Performance

SAM stock opened at $227.58 on Friday. The Boston Beer Company, Inc. has a fifty-two week low of $215.10 and a fifty-two week high of $339.77. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 33.47, a PEG ratio of 1.23 and a beta of 1.14. The business’s fifty day moving average price is $240.10 and its two-hundred day moving average price is $275.95.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SAM shares. Piper Sandler reduced their price target on shares of Boston Beer from $275.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Citigroup upgraded Boston Beer from a “neutral” rating to a “buy” rating and increased their target price for the stock from $265.00 to $280.00 in a report on Thursday. Roth Mkm restated a “buy” rating and issued a $349.00 price target (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. UBS Group decreased their price objective on Boston Beer from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, StockNews.com cut Boston Beer from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $292.40.

Boston Beer Company 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.