Friedenthal Financial Purchases Shares of 12,456 Dutch Bros Inc. $BROS

Key Points

• Friedenthal Financial has acquired 12,456 shares of Dutch Bros Inc. (NYSE:BROS), valued at approximately $852,000, marking a new position for the institutional investor.
• Significant increases in holdings were reported from other institutional investors, with BNP Paribas Financial Markets increasing its shares by 1,572.2% during Q1 2023, now owning over 1.14 million shares valued at $70.66 million.
• Analysts remain optimistic about Dutch Bros, with multiple firms raising their price targets, including Barclays with a target of $92.00, and a consensus rating of "Moderate Buy" with an average price target of $79.88.

Friedenthal Financial acquired a new position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,456 shares of the company's stock, valued at approximately $852,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BROS. BNP Paribas Financial Markets increased its holdings in shares of Dutch Bros by 1,572.2% during the 1st quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company's stock worth $70,661,000 after buying an additional 1,076,045 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Dutch Bros by 29.9% during the 1st quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company's stock worth $211,163,000 after buying an additional 788,100 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Dutch Bros by 421.1% during the 1st quarter. AQR Capital Management LLC now owns 810,273 shares of the company's stock worth $48,843,000 after buying an additional 654,794 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Dutch Bros during the 2nd quarter worth $44,380,000. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Dutch Bros by 120.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,082,414 shares of the company's stock worth $66,828,000 after buying an additional 591,657 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BROS. UBS Group upped their price objective on Dutch Bros from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $85.00 price target on shares of Dutch Bros in a research report on Wednesday, September 24th. Barclays upped their price target on shares of Dutch Bros from $84.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Melius Research raised shares of Dutch Bros to a "strong-buy" rating in a research report on Monday, July 14th. Finally, CICC Research initiated coverage on shares of Dutch Bros in a research report on Monday, June 30th. They set an "outperform" rating and a $80.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $79.88.

Insider Activity

In other news, Chairman Travis Boersma sold 1,250,371 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the transaction, the chairman owned 1,279,144 shares of the company's stock, valued at approximately $83,361,814.48. This trade represents a 49.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the transaction, the insider directly owned 1,279,144 shares in the company, valued at $83,361,814.48. The trade was a 27.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,161,101 shares of company stock worth $207,633,882 in the last ninety days. Corporate insiders own 42.40% of the company's stock.

Dutch Bros Stock Performance

NYSE:BROS opened at $47.59 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.42. The firm has a 50-day moving average of $62.04 and a two-hundred day moving average of $63.80. The stock has a market cap of $7.83 billion, a P/E ratio of 101.26, a PEG ratio of 2.71 and a beta of 2.55. Dutch Bros Inc. has a 1-year low of $30.49 and a 1-year high of $86.88.

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

Dutch Bros Company 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.

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