Summit X LLC bought a new position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,367 shares of the company's stock, valued at approximately $517,000.
Other large investors have also modified their holdings of the company. Coppell Advisory Solutions LLC raised its stake in shares of Dutch Bros by 638.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 517 shares of the company's stock worth $27,000 after buying an additional 447 shares in the last quarter. AdvisorNet Financial Inc purchased a new position in Dutch Bros in the 1st quarter valued at approximately $31,000. Cullen Frost Bankers Inc. purchased a new position in Dutch Bros in the 1st quarter valued at approximately $31,000. Bernard Wealth Management Corp. purchased a new position in Dutch Bros in the 4th quarter valued at approximately $43,000. Finally, Gould Capital LLC increased its stake in Dutch Bros by 20.4% in the 4th quarter. Gould Capital LLC now owns 826 shares of the company's stock valued at $43,000 after purchasing an additional 140 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. CICC Research assumed coverage on Dutch Bros in a research note on Monday, June 30th. They issued an "outperform" rating and a $80.00 price objective for the company. The Goldman Sachs Group assumed coverage on Dutch Bros in a research note on Thursday, June 26th. They issued a "neutral" rating and a $75.00 price objective for the company. Wells Fargo & Company assumed coverage on Dutch Bros in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $80.00 price objective for the company. UBS Group dropped their price objective on Dutch Bros from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Finally, Morgan Stanley set a $80.00 price objective on Dutch Bros and gave the company an "overweight" rating in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $76.06.
View Our Latest Research Report on BROS
Insiders Place Their Bets
In related news, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of Dutch Bros stock in a transaction on Monday, May 19th. The stock was sold at an average price of $72.02, for a total value of $38,280,502.52. Following the transaction, the insider owned 2,373,933 shares in the company, valued at approximately $170,970,654.66. This trade represents a 18.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 722,841 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total value of $48,300,235.62. Following the transaction, the chairman owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. This represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,465,214 shares of company stock worth $237,721,138 in the last quarter. 42.40% of the stock is owned by insiders.
Dutch Bros Trading Up 1.0%
Shares of NYSE:BROS traded up $0.65 during midday trading on Friday, reaching $64.13. The company's stock had a trading volume of 608,451 shares, compared to its average volume of 3,083,459. The firm has a market cap of $10.55 billion, a price-to-earnings ratio of 164.03, a price-to-earnings-growth ratio of 3.77 and a beta of 2.65. The company has a quick ratio of 1.75, a current ratio of 1.95 and a debt-to-equity ratio of 0.80. Dutch Bros Inc. has a 1 year low of $26.96 and a 1 year high of $86.88. The business has a 50 day moving average price of $68.69 and a 200 day moving average price of $65.18.
Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. Dutch Bros had a return on equity of 7.73% and a net margin of 3.20%. The business had revenue of $355.15 million during the quarter, compared to the consensus estimate of $343.30 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The business's revenue for the quarter was up 28.7% on a year-over-year basis. Research analysts forecast that Dutch Bros Inc. will post 0.57 EPS for the current year.
About Dutch Bros
(
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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