Dutch Bros Inc. (NYSE:BROS) Shares Sold by Crestwood Capital Management L.P.

Key Points

• Crestwood Capital Management L.P. has reduced its stake in Dutch Bros Inc. by 14.3%, holding 270,379 shares after selling 45,000 shares during the first quarter.
• Dutch Bros reported earnings per share of $0.26 for the quarter, exceeding analyst expectations of $0.18, with revenues rising 28.0% year-over-year to $415.81 million.
• Analysts maintain a consensus rating of "Buy" for Dutch Bros, with a price target averaging around $77.82.

Crestwood Capital Management L.P. lessened its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 270,379 shares of the company's stock after selling 45,000 shares during the period. Dutch Bros comprises 12.8% of Crestwood Capital Management L.P.'s portfolio, making the stock its 3rd biggest holding. Crestwood Capital Management L.P. owned approximately 0.18% of Dutch Bros worth $16,693,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Gould Capital LLC lifted its stake in Dutch Bros by 20.4% during the fourth quarter. Gould Capital LLC now owns 826 shares of the company's stock worth $43,000 after purchasing an additional 140 shares during the period. Hollencrest Capital Management lifted its holdings in Dutch Bros by 21.2% during the 1st quarter. Hollencrest Capital Management now owns 1,096 shares of the company's stock worth $68,000 after buying an additional 192 shares in the last quarter. Copia Wealth Management lifted its holdings in Dutch Bros by 14.7% during the 1st quarter. Copia Wealth Management now owns 1,595 shares of the company's stock worth $98,000 after buying an additional 205 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Dutch Bros by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 48,050 shares of the company's stock worth $2,517,000 after acquiring an additional 310 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Dutch Bros by 85.3% during 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 period. Institutional investors own 85.54% of the company's stock.

Dutch Bros Price Performance

Shares of Dutch Bros stock traded down $0.26 on Friday, reaching $63.00. 2,515,072 shares of the stock were exchanged, compared to its average volume of 3,994,351. The firm's 50 day moving average is $65.34 and its 200-day moving average is $65.82. Dutch Bros Inc. has a one year low of $30.30 and a one year high of $86.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.42 and a current ratio of 1.64. The firm has a market cap of $10.36 billion, a PE ratio of 134.05, a P/E/G ratio of 3.54 and a beta of 2.63.

Dutch Bros (NYSE:BROS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.08. The company had revenue of $415.81 million during the quarter, compared to the consensus estimate of $403.24 million. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The firm's quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS. As a group, analysts anticipate that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

Insider Activity at Dutch Bros

In related news, Chairman Travis Boersma sold 722,841 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $66.82, for a total value of $48,300,235.62. Following the completion of the transaction, the chairman owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. This represents a 27.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $170,970,654.66. The trade was a 18.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,465,214 shares of company stock valued at $237,721,138. 42.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on BROS shares. Stifel Nicolaus lowered their target price 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. Bank of America boosted their price objective on shares of Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Piper Sandler lowered their price target on shares of Dutch Bros from $70.00 to $63.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. CICC Research initiated coverage on shares of Dutch Bros in a research note on Monday, June 30th. They set an "outperform" rating and a $80.00 price objective on the stock. Finally, Guggenheim boosted their price objective on shares of Dutch Bros from $72.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Dutch Bros currently has a consensus rating of "Buy" and an average price target of $77.82.

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.