West Michigan Advisors LLC purchased a new position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,496 shares of the company's stock, valued at approximately $401,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Dutch Bros during the fourth quarter worth approximately $17,266,000. Pictet Asset Management Holding SA increased its stake in Dutch Bros by 11.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 16,204 shares of the company's stock valued at $849,000 after purchasing an additional 1,629 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dutch Bros by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,795,485 shares of the company's stock worth $94,079,000 after buying an additional 22,214 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Dutch Bros by 6.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 126,116 shares of the company's stock valued at $6,606,000 after buying an additional 7,203 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Dutch Bros by 359.0% during the fourth quarter. Russell Investments Group Ltd. now owns 207,552 shares of the company's stock valued at $10,879,000 after buying an additional 162,329 shares during the last quarter. Institutional investors own 85.54% of the company's stock.
Dutch Bros Stock Performance
Shares of BROS stock traded up $12.66 during trading hours on Thursday, hitting $70.45. 13,874,834 shares of the company were exchanged, compared to its average volume of 2,835,734. The company has a current ratio of 1.95, a quick ratio of 1.75 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $11.59 billion, a price-to-earnings ratio of 149.90, a P/E/G ratio of 3.20 and a beta of 2.63. The firm has a fifty day simple moving average of $66.08 and a 200 day simple moving average of $65.55. Dutch Bros Inc. has a 52-week low of $26.96 and a 52-week high of $86.88.
Dutch Bros (NYSE:BROS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.08. The business had revenue of $415.81 million during the quarter, compared to the consensus estimate of $403.24 million. Dutch Bros had a return on equity of 9.05% and a net margin of 3.94%. The business's revenue for the quarter was up 28.0% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. Research analysts predict that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $66.82, for a total value of $10,641,352.28. Following the sale, the insider owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Travis Boersma sold 722,841 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $66.82, for a total transaction of $48,300,235.62. Following the sale, the chairman owned 1,940,245 shares in the company, valued at $129,647,170.90. The trade was a 27.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,465,214 shares of company stock valued at $237,721,138. 42.40% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on BROS shares. Piper Sandler lowered their target price on shares of Dutch Bros from $70.00 to $63.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Robert W. Baird increased their price objective on Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Royal Bank Of Canada lifted their target price on Dutch Bros from $83.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday. CICC Research began coverage on Dutch Bros in a report on Monday, June 30th. They set an "outperform" rating and a $80.00 price target for the company. Finally, The Goldman Sachs Group began coverage on Dutch Bros in a research note on Thursday, June 26th. They set a "neutral" rating and a $75.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $77.82.
View Our Latest Analysis on BROS
Dutch Bros Company Profile
(
Free Report)
Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.
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