TD Asset Management Inc Decreases Stock Position in Dutch Bros Inc. (NYSE:BROS)

Key Points

• TD Asset Management Inc has reduced its position in Dutch Bros Inc. by 27.3%, owning 36,952 shares after selling 13,910 shares, which were valued at approximately $2.28 million.
• Several institutional investors increased their stakes in Dutch Bros, with FMR LLC significantly raising its stake by 98.1% to hold over 6.5 million shares valued at around $341 million.
• Insider transactions saw the Chairman selling 722,841 shares for over $48 million, indicating a trend of insiders selling significant portions of their holdings.

TD Asset Management Inc trimmed its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,952 shares of the company's stock after selling 13,910 shares during the quarter. TD Asset Management Inc's holdings in Dutch Bros were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Dutch Bros during the fourth quarter valued at approximately $17,266,000. Pictet Asset Management Holding SA grew its holdings in shares of Dutch Bros by 11.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 16,204 shares of the company's stock worth $849,000 after purchasing an additional 1,629 shares during the last quarter. Geode Capital Management LLC grew 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 last quarter. ExodusPoint Capital Management LP grew its holdings in shares of Dutch Bros by 780.3% during the fourth quarter. ExodusPoint Capital Management LP now owns 126,582 shares of the company's stock worth $6,630,000 after purchasing an additional 112,202 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Dutch Bros by 6.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 126,116 shares of the company's stock valued at $6,606,000 after acquiring an additional 7,203 shares during the period. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 722,841 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total value of $48,300,235.62. Following the sale, the chairman owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. The trade was a 27.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total value of $10,641,352.28. Following the transaction, the insider directly owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. This trade represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,465,214 shares of company stock worth $237,721,138 in the last quarter. Corporate insiders own 42.40% of the company's stock.

Dutch Bros Price Performance

NYSE BROS traded down $2.53 during midday trading on Friday, hitting $56.74. The company had a trading volume of 2,953,935 shares, compared to its average volume of 2,416,567. The company has a market capitalization of $9.33 billion, a PE ratio of 145.49, a P/E/G ratio of 3.14 and a beta of 2.63. The company has a current ratio of 1.95, a quick ratio of 1.75 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $66.76 and a 200-day moving average price of $65.59. Dutch Bros Inc. has a twelve month low of $26.96 and a twelve month high of $86.88.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $80.00 price target on Dutch Bros and gave the company an "overweight" rating in a research note on Monday, April 14th. Stifel Nicolaus cut their price target on Dutch Bros from $85.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Robert W. Baird increased their target price on Dutch Bros from $66.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler cut their target price on Dutch Bros from $70.00 to $63.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, CICC Research initiated coverage on Dutch Bros in a 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 issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Dutch Bros has an average rating of "Buy" and a consensus target price of $76.06.

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.