California State Teachers Retirement System Purchases 23,679 Shares of Dutch Bros Inc. $BROS

Key Points

• California State Teachers Retirement System increased its Dutch Bros stake by 19.2%, purchasing 23,679 shares to hold 147,011 shares valued at approximately $7.45 million. Institutional investors and hedge funds collectively own 85.54% of the company.
• Analysts remain broadly positive, with Dutch Bros receiving a consensus “Moderate Buy” rating and an average price target of $77.86. Recent targets range from $68 to $85.
• Dutch Bros reported quarterly revenue of $464.41 million, up 30.7% year over year, and EPS of $0.16, matching estimates. However, insiders sold more than 4.08 million shares worth $243 million during the latest quarter, including substantial sales by Chairman Travis Boersma and a major shareholder.

California State Teachers Retirement System increased its position in Dutch Bros Inc. (NYSE:BROS - Free Report) by 19.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,011 shares of the company's stock after purchasing an additional 23,679 shares during the period. California State Teachers Retirement System owned approximately 0.08% of Dutch Bros worth $7,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Osterweis Capital Management Inc. purchased a new position in shares of Dutch Bros during the second quarter valued at approximately $27,000. Brown Lisle Cummings Inc. bought a new position in Dutch Bros during the fourth quarter worth about $31,000. Rakuten Securities Inc. grew its stake in Dutch Bros by 557.4% in the 2nd quarter. Rakuten Securities Inc. now owns 447 shares of the company's stock valued at $31,000 after buying an additional 379 shares in the last quarter. Ankerstar Wealth LLC bought a new stake in shares of Dutch Bros during the 4th quarter valued at $31,000. Finally, Quarry LP boosted its stake in Dutch Bros by 83.5% in the 4th quarter. Quarry LP now owns 600 shares of the company's stock worth $37,000 after purchasing an additional 273 shares during the period. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BROS. Piper Sandler increased their price target on shares of Dutch Bros from $61.00 to $68.00 and gave the stock a "neutral" rating in a report on Monday, June 22nd. TD Cowen reiterated a "buy" rating and issued a $73.00 price objective on shares of Dutch Bros in a research report on Wednesday, June 10th. Royal Bank Of Canada reissued an "outperform" rating on shares of Dutch Bros in a research note on Wednesday, May 20th. Citigroup increased their price objective on Dutch Bros from $84.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, KeyCorp upped their price target on shares of Dutch Bros from $77.00 to $79.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $77.86.

Insider Activity

In other news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of Dutch Bros stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $63.02, for a total transaction of $16,451,686.10. Following the transaction, the insider owned 2,410,800 shares in the company, valued at $151,928,616. This trade represents a 9.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $47,265,000.00. Following the completion of the transaction, the chairman directly owned 2,410,800 shares in the company, valued at approximately $151,928,616. This represents a 23.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,086,245 shares of company stock valued at $243,021,771 in the last quarter. 38.90% of the stock is currently owned by insiders.

Dutch Bros Stock Down 1.1%

NYSE:BROS opened at $64.27 on Wednesday. The firm has a market cap of $11.22 billion, a P/E ratio of 100.42, a P/E/G ratio of 1.97 and a beta of 2.32. Dutch Bros Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $74.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 1.33. The firm has a 50-day simple moving average of $64.88 and a two-hundred day simple moving average of $57.54.

Dutch Bros (NYSE:BROS - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Dutch Bros had a return on equity of 9.42% and a net margin of 4.61%.The company had revenue of $464.41 million during the quarter, compared to the consensus estimate of $449.69 million. During the same period last year, the company earned $0.14 EPS. Dutch Bros's revenue for the quarter was up 30.7% on a year-over-year basis. Analysts predict that Dutch Bros Inc. will post 0.84 earnings per share for the current fiscal year.

About Dutch Bros

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.

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