State Street Corp Purchases 29,596 Shares of BRC Inc. (NYSE:BRCC)

State Street Corp raised its position in shares of BRC Inc. (NYSE:BRCC) by 3.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 955,717 shares of the company’s stock after purchasing an additional 29,596 shares during the quarter. State Street Corp owned 0.45% of BRC worth $3,269,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. DA Davidson reissued a “buy” rating and issued a $5.50 price objective on shares of BRC in a report on Wednesday, September 18th. Roth Mkm reissued a “neutral” rating and set a $3.50 price objective (down previously from $4.00) on shares of BRC in a research report on Wednesday, November 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $6.00 target price on shares of BRC in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

BRC Stock Performance

Shares of NYSE BRCC opened at $3.10 on Tuesday. The firm has a fifty day moving average price of $3.06 and a 200-day moving average price of $4.06. BRC Inc. has a 1 year low of $2.78 and a 1 year high of $7.14. The stock has a market cap of $659.50 million, a PE ratio of -38.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.58.

BRC (NYSE:BRCC) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned ($0.05) EPS. Equities analysts anticipate that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

BRC Company Profile

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.