CNB Bank Has $246,000 Position in The Boston Beer Company, Inc. (NYSE:SAM)

CNB Bank lifted its position in shares of The Boston Beer Company, Inc. (NYSE:SAM) by 17.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 713 shares of the company’s stock after purchasing an additional 106 shares during the quarter. CNB Bank’s holdings in Boston Beer were worth $246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SAM. JPMorgan Chase & Co. boosted its position in shares of Boston Beer by 2.0% during the first quarter. JPMorgan Chase & Co. now owns 16,610 shares of the company’s stock worth $6,452,000 after buying an additional 333 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Boston Beer by 64.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,778 shares of the company’s stock worth $691,000 after buying an additional 696 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Boston Beer by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,961 shares of the company’s stock worth $1,151,000 after buying an additional 95 shares during the period. Bank of Montreal Can boosted its position in Boston Beer by 220.8% during the first quarter. Bank of Montreal Can now owns 6,080 shares of the company’s stock valued at $2,414,000 after purchasing an additional 4,185 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in Boston Beer by 42.6% during the first quarter. MetLife Investment Management LLC now owns 6,488 shares of the company’s stock valued at $2,520,000 after purchasing an additional 1,938 shares during the last quarter. 81.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boston Beer

In other news, insider Carolyn L. O’boyle sold 101 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 7,029 shares in the company, valued at $2,133,231.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Boston Beer 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 transaction, the insider now owns 7,029 shares in the company, valued at approximately $2,133,231.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Carolyn L. O’boyle sold 102 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $350.72, for a total value of $35,773.44. Following the transaction, the insider now owns 2,630 shares in the company, valued at approximately $922,393.60. The disclosure for this sale can be found here. 23.30% of the stock is owned by corporate insiders.

Boston Beer Stock Performance

Shares of NYSE SAM traded up $2.11 during trading hours on Friday, reaching $286.98. 136,310 shares of the stock were exchanged, compared to its average volume of 126,886. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 46.29, a P/E/G ratio of 1.16 and a beta of 1.02. The Boston Beer Company, Inc. has a 52 week low of $274.78 and a 52 week high of $395.52. The stock’s fifty day simple moving average is $310.43 and its 200 day simple moving average is $336.40.

Boston Beer (NYSE:SAM) last announced its earnings results on Tuesday, February 27th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($1.27). The firm had revenue of $393.72 million for the quarter, compared to the consensus estimate of $413.57 million. Boston Beer had a return on equity of 8.13% and a net margin of 3.61%. Boston Beer’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.93) EPS. Research analysts predict that The Boston Beer Company, Inc. will post 9.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SAM. The Goldman Sachs Group reduced their price target on Boston Beer from $257.00 to $250.00 and set a “sell” rating for the company in a research report on Tuesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $337.00 price target on shares of Boston Beer in a research report on Wednesday, February 28th. Sanford C. Bernstein raised Boston Beer from an “underperform” rating to a “market perform” rating and increased their price target for the company from $280.00 to $335.00 in a research report on Tuesday, January 16th. UBS Group reduced their price target on Boston Beer from $390.00 to $355.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley reduced their price target on Boston Beer from $285.00 to $275.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Boston Beer has a consensus rating of “Hold” and a consensus price target of $334.86.

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.