ING Groep NV Has $17.45 Million Position in Dutch Bros Inc. (NYSE:BROS)

Key Points

• ING Groep NV significantly increased its stake in Dutch Bros Inc. by 582.9% during the first quarter, holding approximately $17.45 million worth of shares.
• Insiders have sold a substantial amount of stock recently, with Chairman Travis Boersma offloading 722,841 shares for over $48 million, indicating a potential decrease in confidence among company leadership.
• Analysts generally maintain a positive outlook on Dutch Bros, with an average rating of "Buy" and a price target increase from several major firms, suggesting growth potential in the coming years.

ING Groep NV increased its position in Dutch Bros Inc. (NYSE:BROS - Free Report) by 582.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 282,700 shares of the company's stock after purchasing an additional 241,300 shares during the quarter. ING Groep NV owned approximately 0.18% of Dutch Bros worth $17,454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BROS. Blair William & Co. IL boosted its stake in shares of Dutch Bros by 49.8% in the first quarter. Blair William & Co. IL now owns 179,103 shares of the company's stock worth $11,058,000 after acquiring an additional 59,542 shares during the period. J. Safra Sarasin Holding AG bought a new position in Dutch Bros in the first quarter worth approximately $617,000. Bank of Nova Scotia grew its stake in Dutch Bros by 751.0% in the first quarter. Bank of Nova Scotia now owns 625,036 shares of the company's stock worth $38,589,000 after purchasing an additional 551,587 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Dutch Bros by 25.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,744 shares of the company's stock valued at $416,000 after acquiring an additional 1,367 shares in the last quarter. Finally, Jefferies Financial Group Inc. boosted its position in Dutch Bros by 32.8% during the 1st quarter. Jefferies Financial Group Inc. now owns 65,563 shares of the company's stock valued at $4,048,000 after acquiring an additional 16,211 shares in the last quarter. 85.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BROS. Robert W. Baird raised their target price on Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler lowered their target price on Dutch Bros from $70.00 to $63.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Stifel Nicolaus decreased their price objective on Dutch Bros from $85.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Morgan Stanley set a $80.00 target price on Dutch Bros and gave the company an "overweight" rating in a research report on Monday, April 14th. Finally, CICC Research assumed coverage on Dutch Bros in a research report on Monday, June 30th. They set an "outperform" rating and a $80.00 price objective on the stock. Two equities research 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 stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $76.06.

Dutch Bros Stock Performance

Shares of BROS traded up $0.51 during trading hours on Wednesday, hitting $57.96. The company had a trading volume of 7,010,137 shares, compared to its average volume of 2,540,206. Dutch Bros Inc. has a 12 month low of $26.96 and a 12 month high of $86.88. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 148.62, a PEG ratio of 3.18 and a beta of 2.63. The business has a fifty day moving average of $66.06 and a 200-day moving average of $65.48. The company has a quick ratio of 1.75, a current ratio of 1.95 and a debt-to-equity ratio of 0.80.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.03. The firm had revenue of $355.15 million for 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 revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Equities analysts anticipate that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of Dutch Bros stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $66.82, for a total transaction of $10,641,352.28. Following the sale, the insider directly owned 1,940,245 shares in the company, valued at $129,647,170.90. This trade represents a 7.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Travis Boersma sold 722,841 shares of Dutch Bros stock in a transaction that occurred on 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 sale, the chairman owned 1,940,245 shares in the company, valued at approximately $129,647,170.90. This represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,465,214 shares of company stock worth $237,721,138. 42.40% of the stock is currently owned by corporate insiders.

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.