CenterBook Partners LP Buys Shares of 22,382 Dutch Bros Inc. (NYSE:BROS)

Key Points

• CenterBook Partners LP purchased 22,382 shares of Dutch Bros Inc. (NYSE:BROS) valued at approximately $1.38 million in its first quarter investment.
• Analysts have given Dutch Bros a consensus rating of "Buy", with a target price of $76.06, while several firms issued varied ratings including "outperform" and "neutral".
• Institutional investors own approximately 85.54% of Dutch Bros stock, indicating strong institutional interest and investment in the company.

CenterBook Partners LP purchased a new stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,382 shares of the company's stock, valued at approximately $1,382,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its holdings in Dutch Bros by 98.1% in the 4th quarter. FMR LLC now owns 6,516,479 shares of the company's stock valued at $341,333,000 after buying an additional 3,227,435 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in 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 acquiring an additional 627,875 shares during the period. FIL Ltd bought a new position in shares of Dutch Bros during the fourth quarter valued at $176,298,000. Geode Capital Management LLC lifted its holdings in shares of Dutch Bros by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,795,485 shares of the company's stock worth $94,079,000 after purchasing an additional 22,214 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Dutch Bros by 18.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,425,100 shares of the company's stock worth $74,647,000 after purchasing an additional 225,300 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BROS shares. CICC Research initiated coverage on Dutch Bros in a research report on Monday, June 30th. They set an "outperform" rating and a $80.00 target price for the company. Piper Sandler lowered their price objective on Dutch Bros from $70.00 to $63.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. TD Securities reaffirmed a "buy" rating and issued a $78.00 price objective on shares of Dutch Bros in a research note on Thursday, May 8th. Barclays increased their target price on shares of Dutch Bros from $82.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada assumed coverage on shares of Dutch Bros in a research report on Wednesday, May 14th. They issued an "outperform" rating and a $83.00 price target on the stock. Two 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. Based on data from MarketBeat, Dutch Bros has a consensus rating of "Buy" and a consensus price target of $76.06.

Dutch Bros Stock Performance

Shares of BROS opened at $57.96 on Thursday. Dutch Bros Inc. has a one year low of $26.96 and a one year high of $86.88. The company has a market cap of $9.53 billion, a PE ratio of 148.62, a P/E/G ratio of 3.18 and a beta of 2.63. The stock has a 50-day moving average of $66.06 and a 200-day moving average of $65.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.95 and a quick ratio of 1.75.

Dutch Bros (NYSE:BROS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.18 by $0.08. Dutch Bros had a return on equity of 7.73% and a net margin of 3.20%. The firm had revenue of $415.81 million during the quarter, compared to the consensus estimate of $403.24 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company's quarterly revenue was up 28.0% on a year-over-year basis. On average, equities research analysts predict that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of Dutch Bros stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $72.02, for a total transaction of $38,280,502.52. Following the completion of the transaction, the insider directly owned 2,373,933 shares in the company, valued at $170,970,654.66. This trade represents a 18.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Travis Boersma sold 722,841 shares of the business's stock in a transaction dated 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 sale, the chairman directly owned 1,940,245 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders have sold 3,465,214 shares of company stock worth $237,721,138. Corporate insiders own 42.40% of the company's stock.

Dutch Bros 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.

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