PNC Financial Services Group Inc. Has $400,000 Position in The Boston Beer Company, Inc. (NYSE:SAM)

PNC Financial Services Group Inc. increased its stake in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,332 shares of the company’s stock after buying 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 have also added to or reduced their stakes in SAM. Quest Partners LLC bought a new position in shares of Boston Beer in the 3rd quarter valued at $339,000. First Horizon Advisors Inc. raised its position in Boston Beer by 105.1% in the third quarter. First Horizon Advisors Inc. now owns 121 shares of the company’s stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Boston Beer during the third quarter worth about $317,000. Great Valley Advisor Group Inc. increased its stake in shares of Boston Beer by 8.5% in the third quarter. Great Valley Advisor Group Inc. now owns 867 shares of the company’s stock valued at $251,000 after buying an additional 68 shares during the period. Finally, Cerity Partners LLC bought a new position in Boston Beer in the 3rd quarter valued at approximately $2,750,000. Institutional investors own 81.13% of the company’s stock.

Boston Beer Trading Up 3.8 %

NYSE:SAM opened at $227.58 on Friday. The firm has a fifty day simple moving average of $240.10 and a two-hundred day simple moving average of $275.95. The Boston Beer Company, Inc. has a 12 month low of $215.10 and a 12 month 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $349.00 target price (down from $389.00) on shares of Boston Beer in a report on Wednesday, February 26th. StockNews.com lowered Boston Beer from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Morgan Stanley decreased their price target on Boston Beer from $290.00 to $270.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. UBS Group reduced their target price on Boston Beer from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Citigroup upgraded shares of Boston Beer from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $280.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.