Concurrent Investment Advisors LLC Has $10.59 Million Stock Holdings in Dutch Bros Inc. (NYSE:BROS)

Concurrent Investment Advisors LLC trimmed its stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 83.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,460 shares of the company's stock after selling 857,145 shares during the quarter. Concurrent Investment Advisors LLC owned approximately 0.11% of Dutch Bros worth $10,586,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Calamos Advisors LLC acquired a new position in Dutch Bros during the 1st quarter worth approximately $362,000. Teacher Retirement System of Texas acquired a new position in Dutch Bros during the 1st quarter worth approximately $1,144,000. KBC Group NV increased its position in Dutch Bros by 15.7% during the 1st quarter. KBC Group NV now owns 5,137 shares of the company's stock worth $317,000 after purchasing an additional 697 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Dutch Bros during the 1st quarter worth approximately $758,000. Finally, CWC Advisors LLC. increased its position in Dutch Bros by 78.5% during the 1st quarter. CWC Advisors LLC. now owns 10,478 shares of the company's stock worth $647,000 after purchasing an additional 4,608 shares in the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BROS. Morgan Stanley set a $80.00 price objective on shares of Dutch Bros and gave the stock an "overweight" rating in a research report on Monday, April 14th. Stifel Nicolaus decreased their price target on shares of Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Piper Sandler decreased 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 report on Thursday, May 8th. Wells Fargo & Company began coverage on shares of Dutch Bros in a research report on Wednesday, March 26th. They issued an "overweight" rating and a $80.00 price target for the company. Finally, CICC Research began coverage on shares of Dutch Bros in a research report on Monday, June 30th. They issued an "outperform" rating and a $80.00 price target for the company. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $75.94.

Insiders Place Their Bets

In related news, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $66.82, for a total transaction of $10,641,352.28. Following the transaction, the insider directly owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. This represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 722,841 shares of the 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 transaction, the chairman directly owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. This represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,465,214 shares of company stock worth $237,721,138. Insiders own 42.40% of the company's stock.

Dutch Bros Trading Up 1.6%

NYSE:BROS opened at $67.13 on Friday. The firm's fifty day moving average is $68.03 and its 200-day moving average is $64.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.75 and a current ratio of 1.95. Dutch Bros Inc. has a 52 week low of $26.96 and a 52 week high of $86.88. The firm has a market cap of $11.04 billion, a P/E ratio of 172.12, a P/E/G ratio of 4.02 and a beta of 2.65.

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

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