40,571 Dutch Bros Inc. $BROS Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management reduced its Dutch Bros stake by 6.3%, selling 40,571 shares and retaining 607,886 shares valued at approximately $23.44 million. Institutional investors collectively own 85.54% of BROS.
• Analysts remain broadly optimistic, with one Strong Buy, 21 Buy and four Hold ratings. Dutch Bros has a consensus “Moderate Buy” rating and an average price target of $71.88.
• Dutch Bros reported quarterly earnings of $0.33 per share, exceeding estimates of $0.29, while revenue rose 32.5% year over year to $550.85 million. Shares opened at $39.14, near their 12-month low of $37.40.

Congress Asset Management Co. trimmed its position in Dutch Bros Inc. (NYSE:BROS - Free Report) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 607,886 shares of the company's stock after selling 40,571 shares during the quarter. Congress Asset Management Co. owned about 0.35% of Dutch Bros worth $23,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BROS. Interval Partners LP purchased a new stake in shares of Dutch Bros in the fourth quarter worth $57,276,000. Wellington Management Group LLP raised its holdings in Dutch Bros by 38.0% during the second quarter. Wellington Management Group LLP now owns 3,090,882 shares of the company's stock valued at $221,956,000 after acquiring an additional 851,075 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new stake in Dutch Bros during the first quarter valued at about $33,569,000. Hyperion Asset Management Ltd purchased a new position in shares of Dutch Bros in the second quarter valued at about $42,946,000. Finally, Bank of America Corp DE lifted its position in shares of Dutch Bros by 33.4% in the first quarter. Bank of America Corp DE now owns 1,814,815 shares of the company's stock valued at $91,939,000 after acquiring an additional 454,036 shares in the last quarter. Institutional investors own 85.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Seaport Research Partners assumed coverage on Dutch Bros in a research report on Wednesday, September 16th. They set a "buy" rating and a $50.00 target price for the company. Stephens reissued an "overweight" rating and issued a $80.00 price target on shares of Dutch Bros in a report on Thursday, August 6th. DA Davidson dropped their price target on Dutch Bros from $85.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, September 28th. Raymond James Financial set a $59.00 price objective on shares of Dutch Bros in a report on Friday, September 18th. Finally, Telsey Advisory Group lifted their price objective on shares of Dutch Bros from $66.00 to $74.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Dutch Bros has an average rating of "Moderate Buy" and a consensus target price of $71.88.

Insider Activity

In related news, Director Todd Penegor bought 2,000 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $51.56 per share, for a total transaction of $103,120.00. Following the acquisition, the director owned 7,358 shares in the company, valued at $379,378.48. This trade represents a 37.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 38.90% of the stock is owned by insiders.

Dutch Bros Trading Up 2.4%

Shares of BROS stock opened at $39.14 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 54.36, a price-to-earnings-growth ratio of 1.35 and a beta of 2.31. Dutch Bros Inc. has a 12-month low of $37.40 and a 12-month high of $74.02. The stock's 50-day moving average price is $47.71 and its 200-day moving average price is $54.85.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. The company had revenue of $550.85 million during the quarter, compared to analyst estimates of $525.38 million. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The firm's revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. Equities research analysts predict that Dutch Bros Inc. will post 0.88 EPS for the current fiscal year.

Dutch Bros Company Profile

Dutch Bros Inc is a drive-thru beverage company that operates the Dutch Bros coffeehouse brand. The company serves a broad menu of handcrafted beverages, including specialty coffees, cold brews, teas, energy drinks, lemonades, smoothies and flavored sodas, along with a selection of snacks and other food items.

Dutch Bros was founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon. From its original pushcart operation, the company developed a drive-thru-focused model built around convenience, customized drinks and customer service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.