Geode Capital Management LLC Has $3.67 Million Stake in BRC Inc. (NYSE:BRCC)

Geode Capital Management LLC increased its holdings in shares of BRC Inc. (NYSE:BRCC) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,073,638 shares of the company’s stock after buying an additional 10,100 shares during the period. Geode Capital Management LLC’s holdings in BRC were worth $3,673,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BRCC. Engaged Capital LLC raised its position in shares of BRC by 5.3% during the 3rd quarter. Engaged Capital LLC now owns 13,535,560 shares of the company’s stock valued at $46,292,000 after acquiring an additional 684,542 shares during the last quarter. QVIDTVM Management LLC grew its stake in shares of BRC by 24.2% during the third quarter. QVIDTVM Management LLC now owns 3,219,929 shares of the company’s stock worth $11,012,000 after purchasing an additional 627,653 shares during the period. Blair William & Co. IL increased its holdings in BRC by 370.2% in the second quarter. Blair William & Co. IL now owns 802,710 shares of the company’s stock valued at $4,921,000 after purchasing an additional 632,000 shares during the last quarter. Riverwater Partners LLC acquired a new position in BRC in the third quarter valued at about $1,091,000. Finally, Verition Fund Management LLC boosted its holdings in BRC by 4,294.3% during the third quarter. Verition Fund Management LLC now owns 497,211 shares of the company’s stock worth $1,700,000 after buying an additional 485,896 shares during the last quarter. 16.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BRCC has been the subject of a number of recent analyst reports. 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. DA Davidson restated a “buy” rating and issued a $5.50 price target on shares of BRC in a report on Wednesday, September 18th. Finally, Roth Mkm restated a “neutral” rating and set a $3.50 price objective (down from $4.00) on shares of BRC in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, BRC presently has an average rating of “Moderate Buy” and an average price target of $6.50.

BRC Price Performance

NYSE BRCC opened at $3.05 on Tuesday. The firm’s 50 day moving average is $3.04 and its 200-day moving average is $3.95. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $648.87 million, a PE ratio of -38.13 and a beta of 1.12. BRC Inc. has a 12-month low of $2.78 and a 12-month high of $7.14.

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

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.