Allspring Global Investments Holdings LLC Sells 85,045 Shares of Dutch Bros Inc. $BROS

Key Points

• Allspring Global Investments Holdings LLC sold 85,045 shares of Dutch Bros Inc., reducing its stake by 10.5% to hold 722,361 shares valued at approximately $48.47 million.
• Insider selling has been significant, with major shareholder Dm Individual Aggregator, LLC selling 482,750 shares and Chairman Travis Boersma selling 1,250,371 shares at an average price of $65.17.
• Analysts have a positive outlook on Dutch Bros, with UBS raising its price target from $80 to $85 and a consensus rating of "Moderate Buy" among investment analysts.

Allspring Global Investments Holdings LLC cut its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 10.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 722,361 shares of the company's stock after selling 85,045 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.44% of Dutch Bros worth $48,470,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BROS. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Dutch Bros during the 2nd quarter valued at $243,000. Oak Ridge Investments LLC acquired a new stake in shares of Dutch Bros during the 2nd quarter worth $447,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Dutch Bros during the 2nd quarter worth $215,000. IFP Advisors Inc grew its holdings in shares of Dutch Bros by 22.8% during the 2nd quarter. IFP Advisors Inc now owns 3,710 shares of the company's stock worth $254,000 after purchasing an additional 688 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Dutch Bros by 27.6% during the 2nd quarter. Blair William & Co. IL now owns 228,604 shares of the company's stock worth $15,630,000 after purchasing an additional 49,501 shares in the last quarter. 85.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of Dutch Bros stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the completion of the transaction, the insider owned 1,279,144 shares of the company's stock, valued at $83,361,814.48. This trade represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Travis Boersma sold 1,250,371 shares of Dutch Bros stock in a transaction on 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 transaction, the chairman directly owned 1,279,144 shares of the company's stock, valued at $83,361,814.48. This represents a 49.43% 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.

Wall Street Analysts Forecast Growth

BROS has been the topic of several analyst reports. UBS Group increased their price target on shares of Dutch Bros from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, August 28th. CICC Research began coverage on shares of Dutch Bros in a research report on Monday, June 30th. They set an "outperform" rating and a $80.00 price target on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $85.00 price objective on shares of Dutch Bros in a research note on Wednesday, September 24th. Bank of America increased their price objective on shares of Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Melius Research raised shares of Dutch Bros to a "strong-buy" rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $79.88.

Dutch Bros Price Performance

BROS stock opened at $52.97 on Wednesday. The company has a fifty day moving average price of $61.24 and a 200-day moving average price of $63.22. The company has a market capitalization of $8.71 billion, a P/E ratio of 112.70, a PEG ratio of 2.89 and a beta of 2.55. Dutch Bros Inc. has a 52-week low of $32.68 and a 52-week high of $86.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.42 and a current ratio of 1.64.

Dutch Bros (NYSE:BROS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The firm had revenue of $415.81 million during the quarter, compared to the consensus estimate of $403.24 million. During the same quarter last year, the firm earned $0.19 earnings per share. The company's revenue for the quarter was up 28.0% on a year-over-year basis. As a group, equities analysts expect that Dutch Bros Inc. will post 0.57 EPS for the current year.

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.

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