Raymond James Financial Inc. Acquires New Position in BRC Inc. (NYSE:BRCC)

Raymond James Financial Inc. bought a new stake in BRC Inc. (NYSE:BRCC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,918 shares of the company’s stock, valued at approximately $76,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of BRC by 325.9% in the 3rd quarter. Barclays PLC now owns 74,967 shares of the company’s stock worth $257,000 after acquiring an additional 57,366 shares during the period. Smith Thornton Advisors LLC raised its holdings in shares of BRC by 41.7% during the fourth quarter. Smith Thornton Advisors LLC now owns 18,521 shares of the company’s stock valued at $59,000 after acquiring an additional 5,446 shares during the period. SG Americas Securities LLC acquired a new stake in shares of BRC during the fourth quarter valued at approximately $58,000. Sanctuary Advisors LLC acquired a new position in BRC in the 4th quarter valued at approximately $61,000. Finally, Lake Street Advisors Group LLC acquired a new position in BRC in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 16.29% of the company’s stock.

BRC Trading Up 0.8%

Shares of BRCC stock opened at $1.86 on Thursday. BRC Inc. has a 12-month low of $1.48 and a 12-month high of $7.14. The company has a market capitalization of $395.52 million, a P/E ratio of -23.19 and a beta of 1.14. The firm has a 50-day moving average price of $2.08 and a 200 day moving average price of $2.61. 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 (NYSE:BRCC) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $89.97 million for the quarter, compared to the consensus estimate of $88.08 million. BRC had a negative net margin of 1.22% and a positive return on equity of 23.35%. Research analysts forecast that BRC Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on BRCC shares. Roth Mkm reissued a “neutral” rating and issued a $2.50 target price (down from $3.50) on shares of BRC in a research report on Wednesday, March 5th. DA Davidson reaffirmed a “buy” rating and set a $3.00 price objective on shares of BRC in a report on Wednesday, March 19th. Telsey Advisory Group reissued an “outperform” rating and issued a $4.00 price target on shares of BRC in a report on Thursday, May 1st. Finally, Roth Capital set a $2.00 price objective on shares of BRC and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, BRC has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

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.