BRC Inc. continues to take market share, says DA Davidson

DA Davidson analyst Michael Baker keeps a Buy rating and $7 price target on BRC Inc, citing its monthly spending data from Nielsen IQ to monitor sales and volumes trends. Industry wide packaged coffee sales were down 3.4% through mid-June – in line with down 3.3% in May – while Ready-To-Drink, or RTD, coffee sales were down 3.2%, an acceleration from May’s5.2% decline, but BRC continues to outperform these categories, growing their packaged coffee business at 21.1%, the analyst tells investors in a research note. While unit volumes are down for both packaged coffee and RTD, BRC is seeing above average trends in both categories, the firm added.