Assenagon Asset Management S.A. Acquires New Holdings in Dutch Bros Inc. $BROS

Key Points

• Assenagon Asset Management S.A. invested approximately $44.38 million in Dutch Bros Inc., acquiring 649,120 shares and owning about 0.39% of the company as of the end of the second quarter.
• Dutch Bros reported a quarterly revenue of $415.81 million, a 28% increase year-over-year, along with earnings per share (EPS) of $0.26, exceeding analysts' expectations.
• Several institutional investors, including Berkshire Capital and Woodline Partners, have also made significant investments in Dutch Bros, contributing to an institutional ownership of 85.54%.

Assenagon Asset Management S.A. acquired a new position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 649,120 shares of the company's stock, valued at approximately $44,380,000. Assenagon Asset Management S.A. owned approximately 0.39% of Dutch Bros at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of 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 worth $70,661,000 after acquiring an additional 1,076,045 shares during the last quarter. 1832 Asset Management L.P. lifted its position 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 valued at $211,163,000 after purchasing an additional 788,100 shares during the last quarter. AQR Capital Management LLC lifted 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 valued at $48,843,000 after purchasing an additional 654,794 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Dutch Bros by 120.6% in the first quarter. Lord Abbett & CO. LLC now owns 1,082,414 shares of the company's stock valued at $66,828,000 after acquiring an additional 591,657 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Dutch Bros by 751.0% in the first quarter. Bank of Nova Scotia now owns 625,036 shares of the company's stock valued at $38,589,000 after acquiring an additional 551,587 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on BROS. The Goldman Sachs Group began coverage on shares of Dutch Bros in a research note on Thursday, June 26th. They issued a "neutral" rating and a $75.00 target price on the stock. TD Cowen reissued a "buy" rating and issued a $86.00 target price on shares of Dutch Bros in a research note on Tuesday, August 19th. Guggenheim raised their price target on shares of Dutch Bros from $72.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Melius Research raised shares of Dutch Bros to a "strong-buy" rating in a research note on Monday, July 14th. Finally, Barclays raised their price target on shares of Dutch Bros from $84.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Two 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. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $80.06.

Dutch Bros Trading Up 0.9%

Shares of BROS stock traded up $0.50 on Tuesday, hitting $55.76. 1,813,431 shares of the stock traded hands, compared to its average volume of 3,262,118. The firm's 50-day moving average price is $64.17 and its two-hundred day moving average price is $64.62. 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 $9.17 billion, a PE ratio of 118.63, a PEG ratio of 3.24 and a beta of 2.64. Dutch Bros Inc. has a twelve month low of $30.49 and a twelve month high of $86.88.

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

Insider Activity

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of Dutch Bros stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Travis Boersma sold 787,681 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.94, for a total value of $54,302,728.14. Following the transaction, the chairman directly owned 975,031 shares in the company, valued at $67,218,637.14. This trade represents a 44.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,161,101 shares of company stock valued at $207,633,882 in the last 90 days. 42.40% of the stock is owned by company 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.