Envestnet Asset Management Inc. Has $5.03 Million Stock Position in Dutch Bros Inc. (NYSE:BROS)

Envestnet Asset Management Inc. cut its stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 35.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,508 shares of the company's stock after selling 44,608 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of Dutch Bros worth $5,032,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Coppell Advisory Solutions LLC raised its position in shares of Dutch Bros by 638.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 517 shares of the company's stock worth $27,000 after acquiring an additional 447 shares during the period. AdvisorNet Financial Inc acquired a new position in shares of Dutch Bros in the first quarter worth about $31,000. Bernard Wealth Management Corp. acquired a new position in shares of Dutch Bros in the fourth quarter worth about $43,000. Gould Capital LLC raised its position in shares of Dutch Bros by 20.4% in the fourth quarter. Gould Capital LLC now owns 826 shares of the company's stock worth $43,000 after acquiring an additional 140 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Dutch Bros by 85.3% in the first 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. 85.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BROS has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Dutch Bros in a research note on Monday, March 31st. Barclays boosted their target price on shares of Dutch Bros from $82.00 to $84.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. UBS Group cut their target price on shares of Dutch Bros from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Piper Sandler cut their target price on shares of Dutch Bros from $70.00 to $63.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Dutch Bros in a research note on Thursday, June 26th. They set a "neutral" rating and a $75.00 price objective 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's stock. Based on data from MarketBeat.com, Dutch Bros currently has an average rating of "Buy" and an average target price of $76.06.

Dutch Bros Trading Up 1.7%

BROS stock traded up $1.01 on Friday, hitting $59.47. 3,333,714 shares of the company were exchanged, compared to its average volume of 2,291,797. Dutch Bros Inc. has a twelve month low of $26.96 and a twelve month high of $86.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.95 and a quick ratio of 1.75. The business's fifty day moving average is $67.97 and its two-hundred day moving average is $65.43. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 152.50, a price-to-earnings-growth ratio of 3.23 and a beta of 2.65.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its earnings results 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. The business had revenue of $355.15 million during the quarter, compared to the consensus estimate of $343.30 million. Dutch Bros had a net margin of 3.20% and a return on equity of 7.73%. The business's quarterly revenue was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, research analysts forecast that Dutch Bros Inc. will post 0.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $72.02, for a total value of $38,280,502.52. Following the sale, the insider owned 2,373,933 shares of the company's stock, valued at $170,970,654.66. This trade represents a 18.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Travis Boersma sold 722,841 shares of the stock in a transaction dated 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 completion of the sale, the chairman directly owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. This trade represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,465,214 shares of company stock worth $237,721,138 over the last quarter. 42.40% of the stock is currently owned by insiders.

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.