Charles Schwab Investment Management Inc. Buys 13,087 Shares of BRC Inc. (NYSE:BRCC)

Charles Schwab Investment Management Inc. raised its stake in BRC Inc. (NYSE:BRCC) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,477 shares of the company’s stock after purchasing an additional 13,087 shares during the period. Charles Schwab Investment Management Inc.’s holdings in BRC were worth $1,291,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Comerica Bank boosted its stake in BRC by 316.4% during the first quarter. Comerica Bank now owns 6,054 shares of the company’s stock worth $26,000 after buying an additional 4,600 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of BRC in the 2nd quarter valued at approximately $28,000. The Manufacturers Life Insurance Company lifted its position in shares of BRC by 32.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,464 shares of the company’s stock worth $125,000 after buying an additional 5,064 shares during the period. Fortis Group Advisors LLC lifted its position in shares of BRC by 25.0% during the 2nd quarter. Fortis Group Advisors LLC now owns 56,925 shares of the company’s stock worth $349,000 after buying an additional 11,388 shares during the period. Finally, Smith Thornton Advisors LLC acquired a new stake in BRC in the 3rd quarter valued at $45,000. 16.29% of the stock is currently owned by institutional investors and hedge funds.

BRC Stock Performance

BRC stock opened at $3.01 on Wednesday. The stock has a 50-day simple moving average of $3.14 and a 200 day simple moving average of $4.28. The stock has a market capitalization of $640.35 million, a price-to-earnings ratio of -37.63 and a beta of 1.14. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. BRC Inc. has a 12-month low of $2.78 and a 12-month high of $7.14.

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

Analysts Set New Price Targets

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