Dutch Bros Inc. $BROS Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board has significantly reduced its stake in Dutch Bros Inc. by 78.0%, owning only 38,300 shares after selling 135,400 shares in the first quarter.
• Dutch Bros recently reported a 28.0% year-over-year revenue increase, with earnings per share (EPS) of $0.26, surpassing analysts' expectations of $0.18.
• Despite the recent selling by insiders, several analysts have upgraded Dutch Bros' stock ratings, with target prices ranging from $80.00 to $92.00.

Canada Pension Plan Investment Board decreased its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 78.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,300 shares of the company's stock after selling 135,400 shares during the quarter. Canada Pension Plan Investment Board's holdings in Dutch Bros were worth $2,365,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BROS. Gould Capital LLC increased its position in Dutch Bros by 20.4% during the 4th 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. Hollencrest Capital Management lifted its holdings 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 in the last quarter. Copia Wealth Management lifted its holdings 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 in the last quarter. GAMMA Investing LLC lifted its stake in Dutch Bros by 85.3% during the 1st quarter. GAMMA Investing LLC now owns 821 shares of the company's stock valued at $51,000 after acquiring an additional 378 shares in the last quarter. Finally, AdvisorNet Financial Inc purchased a new stake in Dutch Bros in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 85.54% of the company's stock.

Insider Activity at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $65.17, for a total value of $31,460,817.50. Following the sale, the insider directly owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. This represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 787,681 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.94, for a total value of $54,302,728.14. Following the transaction, the chairman owned 975,031 shares in the company, valued at $67,218,637.14. The trade was a 44.69% 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 over the last ninety days. Corporate insiders own 42.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BROS. Guggenheim lifted their price objective on Dutch Bros from $72.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Melius Research upgraded Dutch Bros to a "strong-buy" rating in a research report on Monday, July 14th. Royal Bank Of Canada boosted their target price on Dutch Bros from $83.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. The Goldman Sachs Group assumed coverage on Dutch Bros in a research report on Thursday, June 26th. They issued a "neutral" rating and a $75.00 target price for the company. Finally, UBS Group lifted their price target on Dutch Bros from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $80.06.

Dutch Bros Stock Performance

Dutch Bros stock traded down $0.63 during mid-day trading on Wednesday, reaching $65.01. 3,512,054 shares of the stock traded hands, compared to its average volume of 3,353,234. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.42. The business's 50-day moving average is $64.99 and its 200-day moving average is $65.41. The stock has a market capitalization of $10.70 billion, a PE ratio of 138.33, a price-to-earnings-growth ratio of 3.68 and a beta of 2.64. Dutch Bros Inc. has a 12-month low of $30.49 and a 12-month high of $86.88.

Dutch Bros (NYSE:BROS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.08. The business 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%.The business's quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, sell-side analysts predict that Dutch Bros Inc. will post 0.57 EPS for the current fiscal 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.