Dutch Bros Inc. $BROS Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Dutch Bros stake by 7,083.4% in the second quarter, acquiring 10.4 million additional shares. It held 10.56 million shares, worth approximately $758.3 million, or 6.05% of the company.
• Dutch Bros reported quarterly earnings of $0.33 per share, exceeding estimates of $0.29, while revenue rose 32.5% year over year to $550.85 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $76.45.
• The stock opened at $43.91, near its 12-month low of $43.29 and well below its 12-month high of $74.02. Director Todd Penegor also purchased 2,000 shares for roughly $103,120, increasing his ownership by 37.33%.

California State Teachers Retirement System increased its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 7,083.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,560,379 shares of the company's stock after acquiring an additional 10,413,368 shares during the period. California State Teachers Retirement System owned approximately 6.05% of Dutch Bros worth $758,341,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BROS. Osterweis Capital Management Inc. bought a new stake in Dutch Bros in the second quarter worth about $27,000. Ancora Advisors LLC acquired a new position in shares of Dutch Bros in the 2nd quarter worth approximately $29,000. Rakuten Securities Inc. grew its stake in shares of Dutch Bros by 557.4% in the 2nd quarter. Rakuten Securities Inc. now owns 447 shares of the company's stock worth $31,000 after purchasing an additional 379 shares during the last quarter. Ankerstar Wealth LLC bought a new stake in shares of Dutch Bros in the 4th quarter worth approximately $31,000. Finally, Quarry LP raised its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 85.54% of the company's stock.

Dutch Bros Stock Up 0.0%

Shares of BROS stock opened at $43.91 on Monday. The stock's 50 day simple moving average is $56.65 and its 200 day simple moving average is $56.31. Dutch Bros Inc. has a twelve month low of $43.29 and a twelve month high of $74.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.35. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.57 and a beta of 2.28.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The firm had revenue of $550.85 million during the quarter, compared to the consensus estimate of $525.38 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm's revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, research analysts predict that Dutch Bros Inc. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BROS. TD Cowen cut their price objective on Dutch Bros from $73.00 to $59.00 and set a "buy" rating for the company in a research report on Friday. Oppenheimer lifted their target price on Dutch Bros from $72.00 to $82.00 and gave the stock an "outperform" rating in a report on Tuesday, June 30th. Morgan Stanley upped their target price on Dutch Bros from $87.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Citigroup reiterated a "buy" rating on shares of Dutch Bros in a research report on Thursday, August 6th. Finally, Piper Sandler lifted their target price on shares of Dutch Bros from $61.00 to $68.00 and gave the stock a "neutral" rating in a research report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Dutch Bros has a consensus rating of "Moderate Buy" and an average price target of $76.45.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Director Todd Penegor purchased 2,000 shares of the business's stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $51.56 per share, for a total transaction of $103,120.00. Following the completion of the purchase, the director directly owned 7,358 shares in the company, valued at approximately $379,378.48. This trade represents a 37.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 38.90% of the company's stock.

About Dutch Bros

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company has expanded from a single coffee cart into a national chain with locations in more than 20 states.

Dutch Bros' menu includes specialty espresso-based coffees, cold brew, teas, Dutch Bros Blue Rebel energy drinks, smoothies, lemonades, sodas and other flavored beverages. Its shops emphasize drive-thru convenience, customizable drinks and customer-focused service, with some locations also offering walk-up windows or limited indoor seating.

The company combines company-operated shops with franchised locations, although its growth strategy has increasingly emphasized company-operated stores.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.