Bank of Nova Scotia Has $38.59 Million Stock Position in Dutch Bros Inc. (NYSE:BROS)

Key Points

• Bank of Nova Scotia significantly increased its stake in Dutch Bros Inc. by 751.0%, owning approximately 625,036 shares valued at $38.6 million.
• Institutional investors collectively own about 85.54% of Dutch Bros, with several making notable purchases in recent months, indicating strong interest in the company.
• Dutch Bros reported earnings of $0.14 per share for the last quarter, exceeding analyst estimates and reflecting a 28.7% revenue increase year-over-year.

Bank of Nova Scotia boosted its position in Dutch Bros Inc. (NYSE:BROS - Free Report) by 751.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 625,036 shares of the company's stock after purchasing an additional 551,587 shares during the quarter. Bank of Nova Scotia owned about 0.41% of Dutch Bros worth $38,589,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gould Capital LLC raised its position in shares of Dutch Bros by 20.4% during the 4th quarter. Gould Capital LLC now owns 826 shares of the company's stock worth $43,000 after buying an additional 140 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of Dutch Bros by 21.2% in the 1st quarter. Hollencrest Capital Management now owns 1,096 shares of the company's stock worth $68,000 after purchasing an additional 192 shares during the last quarter. Copia Wealth Management grew its stake in shares of Dutch Bros by 14.7% in the 1st quarter. Copia Wealth Management now owns 1,595 shares of the company's stock worth $98,000 after purchasing an additional 205 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Dutch Bros by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 48,050 shares of the company's stock worth $2,517,000 after purchasing an additional 310 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Dutch Bros by 85.3% in the 1st quarter. GAMMA Investing LLC now owns 821 shares of the company's stock worth $51,000 after purchasing an additional 378 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.

Dutch Bros Stock Down 1.8%

NYSE BROS traded down $1.06 during trading on Tuesday, reaching $57.42. The company's stock had a trading volume of 551,588 shares, compared to its average volume of 3,053,309. 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 stock has a market capitalization of $9.44 billion, a PE ratio of 147.11, a PEG ratio of 3.14 and a beta of 2.63. The business has a 50-day moving average price of $66.57 and a 200-day moving average price of $65.58. Dutch Bros Inc. has a 1-year low of $26.96 and a 1-year high of $86.88.

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

Insiders Place Their Bets

In other news, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the business's stock in a transaction 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 completion of the sale, the insider directly owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. The trade was a 7.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Travis Boersma sold 722,841 shares of the business's stock in a transaction 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 completion of the sale, the chairman owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. The trade was a 27.14% 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 valued at $237,721,138 over the last 90 days. 42.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Royal Bank Of Canada started coverage on shares of Dutch Bros in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $83.00 price objective on the stock. Piper Sandler dropped their target price on shares of Dutch Bros from $70.00 to $63.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. TD Securities reissued a "buy" rating and issued a $78.00 target price on shares of Dutch Bros in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group started coverage on shares of Dutch Bros in a research report on Thursday, June 26th. They issued a "neutral" rating and a $75.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $76.06.

Dutch Bros Company 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.