Dutch Bros (NYSE:BROS) Chairman Travis Boersma Sells 302,700 Shares

Key Points

• Chairman Travis Boersma sold 302,700 Dutch Bros shares on May 29 at an average price of $58.27, totaling about $17.6 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Boersma has also made several other recent sales, including a 447,299-share sale on June 1, a 205,127-share sale on May 28, and a 544,872-share sale on May 27. These transactions significantly reduced his ownership stake.
• Despite the insider selling, Dutch Bros reported solid first-quarter results with revenue up 30.7% year over year to $464.41 million and EPS of $0.16, matching expectations. Analysts currently rate the stock Moderate Buy with an average target price of $76.00.

Dutch Bros Inc. (NYSE:BROS - Get Free Report) Chairman Travis Boersma sold 302,700 shares of Dutch Bros stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $58.27, for a total value of $17,638,329.00. Following the transaction, the chairman directly owned 3,088,601 shares in the company, valued at $179,972,780.27. The trade was a 8.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Travis Boersma also recently made the following trade(s):

• On Monday, June 1st, Travis Boersma sold 447,299 shares of Dutch Bros stock. The stock was sold at an average price of $58.26, for a total value of $26,059,639.74.
• On Thursday, May 28th, Travis Boersma sold 205,127 shares of Dutch Bros stock. The stock was sold at an average price of $56.16, for a total value of $11,519,932.32.
• On Wednesday, May 27th, Travis Boersma sold 544,872 shares of Dutch Bros stock. The stock was sold at an average price of $56.21, for a total value of $30,627,255.12.

Dutch Bros Trading Down 1.6%

Shares of BROS stock traded down $0.97 during mid-day trading on Tuesday, hitting $57.94. The company's stock had a trading volume of 2,953,495 shares, compared to its average volume of 4,484,655. The company's fifty day simple moving average is $53.26 and its 200-day simple moving average is $55.70. Dutch Bros Inc. has a 52 week low of $44.58 and a 52 week high of $77.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market cap of $10.12 billion, a PE ratio of 90.53, a P/E/G ratio of 1.88 and a beta of 2.36.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Dutch Bros had a return on equity of 9.42% and a net margin of 4.61%.The firm had revenue of $464.41 million during the quarter, compared to analyst estimates of $449.70 million. During the same period last year, the company posted $0.14 EPS. The business's quarterly revenue was up 30.7% on a year-over-year basis. As a group, equities research analysts expect that Dutch Bros Inc. will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Dutch Bros

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its position in Dutch Bros by 15.1% in the 4th quarter. Marshall Wace LLP now owns 3,098,288 shares of the company's stock valued at $189,677,000 after buying an additional 407,528 shares in the last quarter. Ninety One UK Ltd increased its position in Dutch Bros by 1.5% in the 4th quarter. Ninety One UK Ltd now owns 2,625,483 shares of the company's stock valued at $160,732,000 after buying an additional 39,781 shares in the last quarter. Invesco Ltd. increased its position in Dutch Bros by 4.0% in the 3rd quarter. Invesco Ltd. now owns 2,426,657 shares of the company's stock valued at $127,011,000 after buying an additional 93,515 shares in the last quarter. Geode Capital Management LLC increased its position in Dutch Bros by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 2,265,083 shares of the company's stock valued at $138,699,000 after buying an additional 39,349 shares in the last quarter. Finally, State Street Corp increased its position in Dutch Bros by 1.8% in the 4th quarter. State Street Corp now owns 2,020,112 shares of the company's stock valued at $123,671,000 after buying an additional 35,854 shares in the last quarter. 85.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup lifted their price objective on Dutch Bros from $84.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Piper Sandler lifted their price objective on Dutch Bros from $59.00 to $61.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. UBS Group reissued a "buy" rating on shares of Dutch Bros in a research report on Wednesday, May 20th. TD Cowen reissued a "buy" rating and issued a $73.00 price objective on shares of Dutch Bros in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group raised Dutch Bros from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Dutch Bros presently has a consensus rating of "Moderate Buy" and an average target price of $76.00.

About Dutch Bros

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.

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