Driehaus Capital Management LLC Boosts Stake in Dutch Bros Inc. $BROS

Key Points

• Driehaus Capital Management LLC increased its stake in Dutch Bros Inc. by 3.0%, now holding 1,320,807 shares worth approximately $81.5 million.
• Dutch Bros reported a 28.0% year-over-year revenue increase for the quarter, achieving $415.81 million and exceeding the consensus estimate.
• Institutional investors own 85.54% of Dutch Bros, indicating strong institutional interest in the company.

Driehaus Capital Management LLC grew its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,320,807 shares of the company's stock after purchasing an additional 38,989 shares during the period. Dutch Bros makes up approximately 0.8% of Driehaus Capital Management LLC's holdings, making the stock its 26th largest position. Driehaus Capital Management LLC owned approximately 0.86% of Dutch Bros worth $81,547,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Gould Capital LLC raised its holdings in Dutch Bros by 20.4% in the 4th quarter. Gould Capital LLC now owns 826 shares of the company's stock worth $43,000 after acquiring an additional 140 shares during the last quarter. Hollencrest Capital Management raised its holdings in 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 acquiring an additional 192 shares during the last quarter. Copia Wealth Management raised its holdings in 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 acquiring an additional 205 shares during the last quarter. GAMMA Investing LLC raised its holdings in Dutch Bros by 85.3% in the 1st 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. Finally, AdvisorNet Financial Inc purchased a new position in Dutch Bros in the 1st quarter worth approximately $31,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Price Performance

Shares of BROS traded down $2.27 during midday trading on Monday, hitting $71.97. 3,341,555 shares of the company traded hands, compared to its average volume of 4,338,131. The firm has a 50 day moving average of $64.95 and a 200-day moving average of $65.93. Dutch Bros Inc. has a 52 week low of $30.30 and a 52 week high of $86.88. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 153.13, a PEG ratio of 4.03 and a beta of 2.64. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.42 and a current ratio of 1.64.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. The firm had revenue of $415.81 million for the quarter, compared to analysts' expectations of $403.24 million. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The business's revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. On average, analysts forecast that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 787,681 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $68.94, for a total transaction of $54,302,728.14. Following the sale, the chairman owned 975,031 shares in the company, valued at $67,218,637.14. This represents a 44.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,161,101 shares of company stock worth $207,633,882 over the last 90 days. Corporate insiders own 42.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BROS shares. Stifel Nicolaus decreased their price objective on shares of Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group began coverage on shares of Dutch Bros in a research report on Thursday, June 26th. They set a "neutral" rating and a $75.00 price objective for the company. TD Securities reaffirmed a "buy" rating and issued a $78.00 target price on shares of Dutch Bros in a report on Thursday, May 8th. UBS Group upped their target price on shares of Dutch Bros from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday. Finally, CICC Research began coverage on shares of Dutch Bros in a report on Monday, June 30th. They issued an "outperform" rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $80.06.

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.