Baillie Gifford & Co. Trims Stock Holdings in Dutch Bros Inc. (NYSE:BROS)

Key Points

• Baillie Gifford & Co. reduced its stake in Dutch Bros Inc. (NYSE:BROS) by 38.1%, selling 2,336,417 shares, and now holds 3.8 million shares worth approximately $234.65 million.
• Insider transactions included Chairman Travis Boersma selling 722,841 shares valued at over $48 million, resulting in a 27.14% reduction in his ownership of the stock.
• Dutch Bros reported earnings of $0.14 per share for the last quarter, surpassing estimates and demonstrating 28.7% year-over-year revenue growth with revenues of $355.15 million.

Baillie Gifford & Co. decreased its stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 38.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,800,684 shares of the company's stock after selling 2,336,417 shares during the quarter. Baillie Gifford & Co. owned about 2.46% of Dutch Bros worth $234,654,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in shares of Dutch Bros by 2.1% in the first quarter. Cetera Investment Advisers now owns 91,219 shares of the company's stock worth $5,632,000 after purchasing an additional 1,849 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Dutch Bros by 39.2% in the first quarter. Wedbush Securities Inc. now owns 15,489 shares of the company's stock worth $956,000 after purchasing an additional 4,362 shares during the last quarter. Price Capital Management Inc. purchased a new position in shares of Dutch Bros in the first quarter worth $1,282,000. Oak Thistle LLC raised its stake in shares of Dutch Bros by 46.0% in the first quarter. Oak Thistle LLC now owns 8,667 shares of the company's stock worth $535,000 after purchasing an additional 2,729 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in shares of Dutch Bros by 3.1% in the first quarter. KLP Kapitalforvaltning AS now owns 23,400 shares of the company's stock worth $1,445,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company's stock.

Insider Transactions at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 722,841 shares of the company's stock in a transaction that occurred on 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 sale, the chairman directly owned 1,940,245 shares in the company, valued at $129,647,170.90. This represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. This trade represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,465,214 shares of company stock worth $237,721,138 over the last quarter. 42.40% of the stock is owned by company insiders.

Dutch Bros Price Performance

Shares of NYSE:BROS traded down $1.05 during mid-day trading on Tuesday, reaching $58.18. The stock had a trading volume of 937,421 shares, compared to its average volume of 3,059,342. 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 $9.57 billion, a P/E ratio of 149.17, a price-to-earnings-growth ratio of 3.29 and a beta of 2.65. Dutch Bros Inc. has a 1 year low of $26.96 and a 1 year high of $86.88. The business's 50 day moving average price is $67.44 and its 200 day moving average price is $65.59.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.03. The company had revenue of $355.15 million for the quarter, compared to the consensus estimate of $343.30 million. Dutch Bros had a return on equity of 7.73% and a net margin of 3.20%. The firm's revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Research analysts expect that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

Analysts Set New Price Targets

BROS has been the subject of several recent analyst reports. TD Securities restated a "buy" rating and issued a $78.00 price target on shares of Dutch Bros in a research note on Thursday, May 8th. Robert W. Baird boosted their price target on Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. CICC Research began coverage on Dutch Bros in a research note on Monday, June 30th. They issued an "outperform" rating and a $80.00 price target for the company. Melius Research upgraded Dutch Bros to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus reduced their price objective on Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Dutch Bros presently has an average rating of "Buy" and an average price target of $76.06.

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.