Baird Financial Group Inc. Has $46.15 Million Stock Position in Dutch Bros Inc. $BROS

Key Points

• Baird Financial Group Inc. reduced its ownership in Dutch Bros Inc. by 37.6%, selling 450,557 shares to hold a total of 747,512 shares valued at approximately $46.15 million.
• Institutional investors now own 85.54% of Dutch Bros' stock, with several notable changes, including Berkshire Capital Holdings Inc. purchasing a new position valued at $6.44 million.
• Despite recent insider selling, analysts have upgraded Dutch Bros' stock ratings, with the average target price now at $80.06, indicating a positive outlook for the company's future performance.

Baird Financial Group Inc. decreased its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 747,512 shares of the company's stock after selling 450,557 shares during the quarter. Baird Financial Group Inc. owned approximately 0.48% of Dutch Bros worth $46,151,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BROS. BNP Paribas Financial Markets lifted its stake in shares of Dutch Bros by 1,572.2% in the 1st quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company's stock valued at $70,661,000 after purchasing an additional 1,076,045 shares during the period. 1832 Asset Management L.P. increased its position in shares of Dutch Bros by 29.9% in the 1st quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company's stock valued at $211,163,000 after buying an additional 788,100 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Dutch Bros by 14.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company's stock valued at $268,095,000 after buying an additional 627,875 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of Dutch Bros by 120.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,082,414 shares of the company's stock valued at $66,828,000 after buying an additional 591,657 shares in the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Dutch Bros by 751.0% in the 1st quarter. Bank of Nova Scotia now owns 625,036 shares of the company's stock valued at $38,589,000 after buying an additional 551,587 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company's stock.

Insider Activity

In related news, Chairman Travis Boersma sold 1,250,371 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total value of $81,486,678.07. Following the completion of the sale, the chairman directly owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. This trade represents a 49.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the firm'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 $31,460,817.50. Following the completion of the sale, 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 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 corporate insiders.

Analyst Ratings Changes

BROS has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Dutch Bros from $84.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Stifel Nicolaus lowered their price objective on shares of Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Bank of America upped their price objective on shares of Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Guggenheim increased their target price on Dutch Bros from $72.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada increased their target price on Dutch Bros from $83.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $80.06.

Dutch Bros Stock Down 1.7%

Shares of NYSE BROS traded down $1.26 during mid-day trading on Wednesday, hitting $71.72. The company had a trading volume of 2,169,717 shares, compared to its average volume of 4,156,086. The company has a market capitalization of $11.80 billion, a PE ratio of 133.02, a price-to-earnings-growth ratio of 4.03 and a beta of 2.64. The firm has a 50-day simple moving average of $65.11 and a two-hundred day simple moving average of $65.95. 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 Inc. has a one year low of $30.45 and a one year high of $86.88.

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

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.