Geode Capital Management LLC Raises Position in Dutch Bros Inc. $BROS

Key Points

• Geode Capital Management increased its Dutch Bros stake by 1.8% in the fourth quarter, adding 39,349 shares and bringing its total to 2,265,083 shares worth about $138.7 million.
• Insider selling was significant: major shareholder Dm Individual Aggregator, LLC and Chairman Travis Boersma both sold shares on June 1 under pre-arranged 10b5-1 trading plans, while insiders sold about 2.0 million shares over the past 90 days.
• Business performance and analyst sentiment remain solid, with Dutch Bros reporting Q1 EPS of $0.16 in line with estimates and revenue up 30.7% year over year to $464.4 million. Analysts currently rate the stock a consensus Moderate Buy with a $76 target price.

Geode Capital Management LLC grew its position in Dutch Bros Inc. (NYSE:BROS - Free Report) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,265,083 shares of the company's stock after buying an additional 39,349 shares during the period. Geode Capital Management LLC owned approximately 1.38% of Dutch Bros worth $138,699,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. raised its holdings in shares of Dutch Bros by 1.1% during the third quarter. Oppenheimer & Co. Inc. now owns 18,625 shares of the company's stock valued at $975,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Dutch Bros by 7.5% during the third quarter. Allworth Financial LP now owns 3,312 shares of the company's stock valued at $173,000 after purchasing an additional 232 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Dutch Bros by 6.5% during the third quarter. Lazard Asset Management LLC now owns 4,434 shares of the company's stock valued at $232,000 after purchasing an additional 270 shares during the last quarter. Covestor Ltd raised its holdings in shares of Dutch Bros by 23.6% during the fourth quarter. Covestor Ltd now owns 1,783 shares of the company's stock valued at $109,000 after purchasing an additional 341 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in shares of Dutch Bros by 6.8% during the fourth quarter. Swiss Life Asset Management Ltd now owns 5,918 shares of the company's stock valued at $362,000 after purchasing an additional 375 shares during the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 155,692 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $58.26, for a total transaction of $9,070,615.92. Following the completion of the sale, the insider directly owned 2,932,909 shares of the company's stock, valued at approximately $170,871,278.34. This represents a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 447,299 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $58.26, for a total transaction of $26,059,639.74. Following the sale, the chairman directly owned 2,932,909 shares of the company's stock, valued at approximately $170,871,278.34. This represents a 13.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,022,106 shares of company stock valued at $115,725,491. Insiders own 38.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BNP Paribas Exane assumed coverage on shares of Dutch Bros in a report on Monday, March 30th. They set an "outperform" rating and a $73.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Dutch Bros in a report on Monday, April 20th. Piper Sandler boosted their price objective on shares of Dutch Bros from $59.00 to $61.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. KeyCorp boosted their price objective on shares of Dutch Bros from $77.00 to $79.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group raised shares of Dutch Bros from a "neutral" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.00.

Dutch Bros Stock Down 1.0%

Shares of BROS stock opened at $56.01 on Friday. Dutch Bros Inc. has a 12 month low of $44.58 and a 12 month high of $77.88. The stock has a market cap of $9.78 billion, a P/E ratio of 87.52, a P/E/G ratio of 1.83 and a beta of 2.36. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21. The company has a 50 day simple moving average of $53.57 and a two-hundred day simple moving average of $55.73.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The business had revenue of $464.41 million during the quarter, compared to analysts' expectations of $449.70 million. During the same period in the prior year, the company earned $0.14 earnings per share. The firm's revenue was up 30.7% on a year-over-year basis. On average, research analysts expect that Dutch Bros Inc. will post 0.84 earnings per share for the current year.

Dutch Bros Company Profile

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.

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