State Street Corp Grows Stake in BRC Inc. (NYSE:BRCC)

State Street Corp raised its stake in shares of BRC Inc. (NYSE:BRCC) by 3.2% during the third quarter, HoldingsChannel reports. The firm owned 955,717 shares of the company’s stock after buying an additional 29,596 shares during the quarter. State Street Corp’s holdings in BRC were worth $3,269,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC purchased a new stake in BRC during the 2nd quarter valued at $28,000. Smith Thornton Advisors LLC purchased a new stake in shares of BRC in the third quarter valued at $45,000. United Asset Strategies Inc. bought a new stake in shares of BRC in the 3rd quarter worth about $50,000. Intech Investment Management LLC purchased a new position in shares of BRC during the 3rd quarter worth about $56,000. Finally, Quadrature Capital Ltd bought a new position in BRC during the 3rd quarter valued at about $75,000. 16.29% of the stock is owned by institutional investors.

BRC Price Performance

NYSE BRCC opened at $3.10 on Tuesday. The company has a market cap of $659.50 million, a PE ratio of -38.75 and a beta of 1.14. The firm’s 50 day moving average price is $3.06 and its 200-day moving average price is $4.06. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.58 and a current ratio of 1.14. BRC Inc. has a 52-week low of $2.78 and a 52-week high of $7.14.

BRC (NYSE:BRCC) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.06 million. BRC had a positive return on equity of 23.35% and a negative net margin of 1.22%. During the same period last year, the business posted ($0.05) EPS. Sell-side analysts forecast that BRC Inc. will post -0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BRCC. DA Davidson restated a “buy” rating and set a $5.50 target price on shares of BRC in a research report on Wednesday, September 18th. Roth Mkm reiterated a “neutral” rating and issued a $3.50 target price (down previously from $4.00) on shares of BRC in a research note on Wednesday, November 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.00 price target on shares of BRC in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.50.

About BRC

BRC Inc, through its subsidiaries, purchases, roasts, and sells coffee, coffee accessories, and branded apparel in the United States. The company also produces media content, as well as sells coffee brewing equipment, and outdoor and lifestyle gear. It supports active military, veterans, and first responders.