AQR Capital Management LLC Buys 654,794 Shares of Dutch Bros Inc. $BROS

Key Points

• AQR Capital Management LLC significantly increased its holdings in Dutch Bros Inc. by 421.1%, acquiring an additional 654,794 shares during the first quarter, now valuing its stake at approximately $48.8 million.
• Analysts have raised their price targets for Dutch Bros stock, with UBS Group increasing its target from $80 to $85, while Barclays raised it from $84 to $92, reflecting a positive outlook on the company's performance.
• Despite the recent appreciation in holdings, Dutch Bros shares fell by 7.6%, with the stock currently trading around $66.03, down from a 12-month high of $86.88.

AQR Capital Management LLC lifted its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 421.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 810,273 shares of the company's stock after purchasing an additional 654,794 shares during the quarter. AQR Capital Management LLC owned about 0.53% of Dutch Bros worth $48,843,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Amundi boosted its stake in Dutch Bros by 98.6% in the 1st quarter. Amundi now owns 448,944 shares of the company's stock worth $25,545,000 after buying an additional 222,939 shares during the last quarter. PDT Partners LLC grew its holdings in Dutch Bros by 159.3% in the first quarter. PDT Partners LLC now owns 127,425 shares of the company's stock valued at $7,867,000 after purchasing an additional 78,291 shares during the period. Maverick Capital Ltd. increased its position in Dutch Bros by 6.1% during the first quarter. Maverick Capital Ltd. now owns 31,633 shares of the company's stock worth $1,953,000 after purchasing an additional 1,805 shares during the last quarter. Royal Bank of Canada raised its stake in Dutch Bros by 47.6% during the first quarter. Royal Bank of Canada now owns 203,964 shares of the company's stock worth $12,593,000 after purchasing an additional 65,801 shares during the period. Finally, Graham Capital Management L.P. grew its position in Dutch Bros by 421.6% during the first quarter. Graham Capital Management L.P. now owns 60,965 shares of the company's stock valued at $3,764,000 after acquiring an additional 49,277 shares during the period. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Stock Down 2.7%

NYSE BROS traded down $1.78 during mid-day trading on Friday, reaching $64.72. 3,050,072 shares of the company's stock traded hands, compared to its average volume of 3,238,828. The company has a fifty day simple moving average of $64.93 and a 200-day simple moving average of $65.30. Dutch Bros Inc. has a 1-year low of $30.49 and a 1-year high of $86.88. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 137.70, a P/E/G ratio of 3.68 and a beta of 2.64. The company has a current ratio of 1.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69.

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 for the quarter, topping analysts' consensus estimates of $0.18 by $0.08. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The business 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 company earned $0.19 earnings per share. The business's quarterly revenue was up 28.0% compared to the same quarter last year. As a group, equities research analysts expect that Dutch Bros Inc. will post 0.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BROS. The Goldman Sachs Group began coverage on shares of Dutch Bros in a report on Thursday, June 26th. They issued a "neutral" rating and a $75.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $84.00 price target (up from $80.00) on shares of Dutch Bros in a research report on Thursday, August 7th. TD Cowen reiterated a "buy" rating and issued a $86.00 price target on shares of Dutch Bros in a report on Tuesday, August 19th. Melius Research upgraded Dutch Bros to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Barclays upped their target price on Dutch Bros from $84.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Dutch Bros presently has a consensus rating of "Buy" and an average target price of $80.06.

Insider Buying and Selling

In other news, Chairman Travis Boersma sold 1,250,371 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were 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 in the company, valued at approximately $83,361,814.48. This represents a 49.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $31,460,817.50. Following the sale, the insider directly owned 1,279,144 shares in the company, valued at $83,361,814.48. The trade was a 27.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,161,101 shares of company stock valued at $207,633,882 in the last 90 days. Insiders own 42.40% of the company's stock.

About Dutch Bros

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.