Baird Financial Group Inc. Buys 35,925 Shares of Dutch Bros Inc. $BROS

Key Points

• Baird Financial Group increased its Dutch Bros position by 7.4%, purchasing 35,925 shares to hold 524,569 shares worth approximately $37.7 million. Institutional investors collectively own 85.54% of BROS.
• Analysts maintain a bullish outlook, with Dutch Bros receiving a consensus “Moderate Buy” rating and an average price target of $77.15, despite several recent target reductions.
• Dutch Bros exceeded quarterly expectations, reporting $0.33 EPS versus $0.29 expected and $550.85 million in revenue, up 32.5% year over year. The stock opened at $43.38, near its 52-week low of $43.29.

Baird Financial Group Inc. boosted its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,569 shares of the company's stock after acquiring an additional 35,925 shares during the quarter. Baird Financial Group Inc. owned 0.30% of Dutch Bros worth $37,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. California State Teachers Retirement System increased its position in Dutch Bros by 7,083.4% during the second quarter. California State Teachers Retirement System now owns 10,560,379 shares of the company's stock worth $758,341,000 after buying an additional 10,413,368 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Dutch Bros during the 4th quarter worth approximately $113,880,000. Westfield Capital Management Co. LP acquired a new position in shares of Dutch Bros during the 4th quarter worth approximately $108,948,000. Norges Bank acquired a new position in shares of Dutch Bros during the 4th quarter worth approximately $96,951,000. Finally, Balyasny Asset Management L.P. raised its stake in Dutch Bros by 196.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,817,201 shares of the company's stock valued at $95,112,000 after acquiring an additional 1,203,338 shares during the period. Institutional investors own 85.54% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stephens reaffirmed an "overweight" rating and set a $80.00 price objective on shares of Dutch Bros in a research report on Thursday, August 6th. DA Davidson dropped their price objective on shares of Dutch Bros from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Piper Sandler raised their target price on shares of Dutch Bros from $61.00 to $68.00 and gave the stock a "neutral" rating in a research note on Monday, June 22nd. TD Cowen reaffirmed a "buy" rating and set a $73.00 target price on shares of Dutch Bros in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada decreased their price target on shares of Dutch Bros from $75.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Dutch Bros currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

Insider Activity

In other Dutch Bros news, Director Todd Penegor acquired 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $51.56 per share, for a total transaction of $103,120.00. Following the acquisition, the director directly owned 7,358 shares in the company, valued at $379,378.48. This represents a 37.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 38.90% of the stock is owned by corporate insiders.

Dutch Bros Price Performance

Dutch Bros stock opened at $43.38 on Friday. The stock has a market capitalization of $7.58 billion, a P/E ratio of 60.26, a price-to-earnings-growth ratio of 1.60 and a beta of 2.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.35. Dutch Bros Inc. has a 52 week low of $43.29 and a 52 week high of $74.02. The stock has a fifty day moving average of $57.21 and a 200-day moving average of $56.33.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $550.85 million for the quarter, compared to analyst estimates of $525.38 million. Dutch Bros had a net margin of 4.91% and a return on equity of 10.01%. The firm's revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. On average, sell-side analysts expect that Dutch Bros Inc. will post 0.87 earnings per share for the current fiscal year.

Dutch Bros Profile

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company has expanded from a single coffee cart into a national chain with locations in more than 20 states.

Dutch Bros' menu includes specialty espresso-based coffees, cold brew, teas, Dutch Bros Blue Rebel energy drinks, smoothies, lemonades, sodas and other flavored beverages. Its shops emphasize drive-thru convenience, customizable drinks and customer-focused service, with some locations also offering walk-up windows or limited indoor seating.

The company combines company-operated shops with franchised locations, although its growth strategy has increasingly emphasized company-operated stores.

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