Alliancebernstein L.P. Sells 782,536 Shares of Dutch Bros Inc. $BROS

Key Points

• Alliancebernstein L.P. reduced its stake in Dutch Bros Inc. by 43.2% after selling 782,536 shares, retaining approximately 1,030,910 shares valued at $63.6 million.
• The company's stock currently has a market cap of $10.86 billion and a PE ratio of 140.49, with analysts forecasting continued growth for Dutch Bros.
• Insiders have been actively selling shares, with Chairman Travis Boersma selling 787,681 shares for over $54 million, which reflects a 44.69% decrease in his ownership.

Alliancebernstein L.P. cut its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 43.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,030,910 shares of the company's stock after selling 782,536 shares during the period. Alliancebernstein L.P. owned 0.67% of Dutch Bros worth $63,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BROS. BNP Paribas Financial Markets grew its holdings in Dutch Bros by 1,572.2% during the first quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company's stock valued at $70,661,000 after purchasing an additional 1,076,045 shares during the period. 1832 Asset Management L.P. boosted its holdings in Dutch Bros by 29.9% during the first quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company's stock worth $211,163,000 after purchasing an additional 788,100 shares during the last quarter. AQR Capital Management LLC raised its position in Dutch Bros by 421.1% during the first quarter. AQR Capital Management LLC now owns 810,273 shares of the company's stock worth $48,843,000 after acquiring an additional 654,794 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Dutch Bros by 120.6% during the first quarter. Lord Abbett & CO. LLC now owns 1,082,414 shares of the company's stock worth $66,828,000 after acquiring an additional 591,657 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in Dutch Bros by 751.0% during the first quarter. Bank of Nova Scotia now owns 625,036 shares of the company's stock worth $38,589,000 after acquiring an additional 551,587 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company's stock.

Dutch Bros Stock Up 1.8%

BROS traded up $1.19 during mid-day trading on Thursday, reaching $66.22. 1,400,090 shares of the stock were exchanged, compared to its average volume of 3,232,627. The company has a 50 day moving average price of $64.99 and a two-hundred day moving average price of $65.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.42 and a current ratio of 1.64. The stock has a market capitalization of $10.89 billion, a PE ratio of 140.89, a price-to-earnings-growth ratio of 3.68 and a beta of 2.64. Dutch Bros Inc. has a 1 year low of $30.49 and a 1 year high of $86.88.

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, beating analysts' consensus estimates of $0.18 by $0.08. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%.The business had revenue of $415.81 million for the quarter, compared to analysts' expectations of $403.24 million. During the same period in the previous year, the business posted $0.19 EPS. The firm's quarterly revenue was up 28.0% compared to the same quarter last year. As a group, research analysts anticipate that Dutch Bros Inc. will post 0.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Guggenheim increased their price objective on shares of Dutch Bros from $72.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. The Goldman Sachs Group initiated coverage on shares of Dutch Bros in a research note on Thursday, June 26th. They set a "neutral" rating and a $75.00 price objective on the stock. Morgan Stanley restated an "overweight" rating and issued a $84.00 price target (up from $80.00) on shares of Dutch Bros in a research note on Thursday, August 7th. Barclays raised their price target on shares of Dutch Bros from $84.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Bank of America raised their price objective on shares of Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $80.06.

Insider Activity

In other news, Chairman Travis Boersma sold 1,250,371 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the completion of the transaction, the chairman owned 1,279,144 shares of the company's stock, valued at approximately $83,361,814.48. The trade was a 49.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $65.17, for a total value of $31,460,817.50. Following the completion of the sale, the insider directly owned 1,279,144 shares of the company's stock, valued at approximately $83,361,814.48. This represents a 27.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,161,101 shares of company stock valued at $207,633,882 in the last three months. 42.40% of the stock is owned by insiders.

Dutch Bros 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.