Dutch Bros Inc. $BROS Stock Holdings Boosted by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its ownership in Dutch Bros Inc. by 1,572.2%, acquiring an additional 1,076,045 shares in the first quarter, bringing its total to over 1.1 million shares valued at approximately $70.66 million.
• Dutch Bros reported a 28% increase in revenue year-over-year for the latest quarter, surpassing analysts' expectations with earnings per share of $0.26 compared to the anticipated $0.18.
• Despite recent positive earnings, Dutch Bros stock saw a 3.1% decline, with analysts holding a consensus rating of "Buy" and an average price target of $80.06.

BNP Paribas Financial Markets grew its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 1,572.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,144,488 shares of the company's stock after purchasing an additional 1,076,045 shares during the period. BNP Paribas Financial Markets owned approximately 0.74% of Dutch Bros worth $70,661,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BROS. AdvisorNet Financial Inc purchased a new stake in shares of Dutch Bros during the first quarter valued at approximately $31,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Dutch Bros during the first quarter valued at approximately $31,000. Gould Capital LLC raised its stake in shares of Dutch Bros by 20.4% during the fourth quarter. Gould Capital LLC now owns 826 shares of the company's stock valued at $43,000 after purchasing an additional 140 shares during the period. Bernard Wealth Management Corp. purchased a new stake in shares of Dutch Bros during the fourth quarter worth about $43,000. Finally, GAMMA Investing LLC increased its position in shares of Dutch Bros by 85.3% during the first quarter. GAMMA Investing LLC now owns 821 shares of the company's stock worth $51,000 after acquiring an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their target price on Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Barclays lifted their target price on Dutch Bros from $84.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $84.00 target price (up from $80.00) on shares of Dutch Bros in a research report on Thursday, August 7th. Piper Sandler dropped their price target on shares of Dutch Bros from $70.00 to $63.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Bank of America upped their price target on shares of Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Two research 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's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $80.06.

Dutch Bros Stock Down 0.5%

Dutch Bros stock traded down $0.39 during midday trading on Thursday, hitting $71.32. The stock had a trading volume of 1,221,057 shares, compared to its average volume of 3,200,358. 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 12 month low of $30.49 and a 12 month high of $86.88. The business has a fifty day moving average price of $65.11 and a 200 day moving average price of $65.95. The stock has a market cap of $11.73 billion, a P/E ratio of 151.83, a P/E/G ratio of 4.03 and a beta of 2.64.

Dutch Bros (NYSE:BROS - Get Free Report) last released its earnings results 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. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The firm had revenue of $415.81 million during the quarter, compared to analyst estimates of $403.24 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm's revenue for the quarter was up 28.0% compared to the same quarter last year. Research analysts predict that Dutch Bros Inc. will post 0.57 EPS for the current year.

Insider Activity at Dutch Bros

In other news, Chairman Travis Boersma sold 1,250,371 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the completion of the transaction, the chairman directly owned 1,279,144 shares of the company's stock, valued at approximately $83,361,814.48. This represents a 49.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $65.17, for a total value of $31,460,817.50. Following the transaction, the insider directly 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 have sold 3,161,101 shares of company stock valued at $207,633,882 over the last ninety days. Corporate insiders own 42.40% of the company's stock.

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.