Janney Montgomery Scott LLC Cuts Stock Holdings in Dutch Bros Inc. (NYSE:BROS)

Janney Montgomery Scott LLC trimmed its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,905 shares of the company's stock after selling 8,783 shares during the period. Janney Montgomery Scott LLC's holdings in Dutch Bros were worth $1,723,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Dutch Bros during the fourth quarter valued at about $94,478,000. Scratch Capital LLC bought a new position in shares of Dutch Bros during the fourth quarter valued at about $1,260,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Dutch Bros during the fourth quarter valued at about $267,000. Versor Investments LP raised its stake in shares of Dutch Bros by 128.7% during the fourth quarter. Versor Investments LP now owns 18,400 shares of the company's stock valued at $964,000 after acquiring an additional 10,355 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Dutch Bros by 14.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company's stock valued at $268,095,000 after acquiring an additional 627,875 shares during the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BROS shares. TD Securities reaffirmed a "buy" rating and set a $78.00 price objective on shares of Dutch Bros in a research note on Thursday, May 8th. Robert W. Baird upped their price objective on shares of Dutch Bros from $66.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Barclays upped their price objective on shares of Dutch Bros from $76.00 to $82.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Royal Bank Of Canada began coverage on shares of Dutch Bros in a research note on Wednesday, May 14th. They set an "outperform" rating and a $83.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on shares of Dutch Bros in a research note on Thursday. They issued a "neutral" rating and a $75.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.69.

Dutch Bros Price Performance

Shares of BROS opened at $67.52 on Friday. The stock has a market cap of $11.11 billion, a PE ratio of 173.14, a price-to-earnings-growth ratio of 3.99 and a beta of 2.73. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.75 and a current ratio of 1.95. Dutch Bros Inc. has a fifty-two week low of $26.96 and a fifty-two week high of $86.88. The firm's 50-day simple moving average is $67.13 and its two-hundred day simple moving average is $63.90.

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 for the quarter, topping analysts' consensus estimates of $0.11 by $0.03. The business had revenue of $355.15 million for the quarter, compared to analysts' expectations 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 was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 earnings per share. Analysts anticipate that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the firm's 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 completion of the sale, the insider now owns 1,940,245 shares of the company's stock, valued at $129,647,170.90. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Travis Boersma sold 704,995 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $68.24, for a total transaction of $48,108,858.80. Following the sale, the chairman now directly owns 2,218,611 shares of the company's stock, valued at $151,398,014.64. This trade represents a 24.11% 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 90 days. 42.40% of the stock is currently owned by insiders.

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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