Aigen Investment Management LP Boosts Stake in Dutch Bros Inc. (NYSE:BROS)

Key Points

• Aigen Investment Management LP increased its stake in Dutch Bros Inc. by 83.9% in the 1st quarter, owning 44,637 shares valued at $2.76 million.
• D. E. Shaw & Co. Inc. and Invesco Ltd. are among other institutional investors that have also boosted their stakes in Dutch Bros, with the latter increasing its ownership by 16.4% recently.
• The company reported a quarterly earnings per share (EPS) of $0.26, outperforming analyst expectations of $0.18, and its revenue grew by 28% compared to the same quarter last year.

Aigen Investment Management LP lifted its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 83.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,637 shares of the company's stock after purchasing an additional 20,364 shares during the period. Aigen Investment Management LP's holdings in Dutch Bros were worth $2,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BROS. D. E. Shaw & Co. Inc. increased its stake in Dutch Bros by 14.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company's stock worth $268,095,000 after buying an additional 627,875 shares in the last quarter. Invesco Ltd. increased its stake in Dutch Bros by 16.4% in the 1st quarter. Invesco Ltd. now owns 1,365,281 shares of the company's stock worth $84,292,000 after buying an additional 192,458 shares in the last quarter. Millennium Management LLC increased its stake in Dutch Bros by 7.5% in the 4th quarter. Millennium Management LLC now owns 1,295,545 shares of the company's stock worth $67,861,000 after buying an additional 90,166 shares in the last quarter. Baird Financial Group Inc. increased its stake in Dutch Bros by 2.3% in the 4th quarter. Baird Financial Group Inc. now owns 1,198,069 shares of the company's stock worth $62,755,000 after buying an additional 27,214 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Dutch Bros by 9.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,052,203 shares of the company's stock worth $55,114,000 after buying an additional 87,104 shares in the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Stock Down 5.9%

Shares of NYSE:BROS opened at $66.15 on Friday. 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 company has a market cap of $10.88 billion, a price-to-earnings ratio of 140.75, a PEG ratio of 3.66 and a beta of 2.63. Dutch Bros Inc. has a 12 month low of $28.48 and a 12 month high of $86.88. The company has a 50-day moving average price of $65.95 and a 200 day moving average price of $65.63.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 3.94% and a return on equity of 9.05%. The firm's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. As a group, equities research analysts predict that Dutch Bros Inc. will post 0.57 earnings per share for the current year.

Insider Activity

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the firm's stock in a transaction dated 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 completion of the sale, the insider owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Travis Boersma sold 722,841 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total transaction of $48,300,235.62. Following the completion of the sale, the chairman directly owned 1,940,245 shares of the company's stock, valued at approximately $129,647,170.90. The trade was a 27.14% decrease in their position. 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 owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BROS shares. Melius Research upgraded Dutch Bros to a "strong-buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group started coverage on Dutch Bros in a research report on Thursday, June 26th. They set a "neutral" rating and a $75.00 price objective for the company. UBS Group cut their price objective on Dutch Bros from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Barclays raised their price objective on Dutch Bros from $84.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Guggenheim raised their price objective on Dutch Bros from $72.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $77.82.

Dutch Bros Company Profile

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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