Kornitzer Capital Management Inc. KS Invests $4.01 Million in Dutch Bros Inc. $BROS

Key Points

• Kornitzer Capital Management Inc. invested $4.01 million in Dutch Bros Inc., acquiring 58,620 shares during the 2nd quarter, reflecting strong interest from institutional investors in the company.
• In its latest earnings report, Dutch Bros exceeded expectations with $0.26 EPS and $415.81 million in revenue, marking a 28% year-over-year growth.
• Recent insider activity shows significant selling, with Chairman Travis Boersma offloading 787,681 shares, representing a 44.69% decrease in his position.

Kornitzer Capital Management Inc. KS acquired a new position in Dutch Bros Inc. (NYSE:BROS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 58,620 shares of the company's stock, valued at approximately $4,008,000.

Other large investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in shares of Dutch Bros in the first quarter worth about $31,000. Kiker Wealth Management LLC increased its holdings in Dutch Bros by 4,423.1% during the 2nd quarter. Kiker Wealth Management LLC now owns 588 shares of the company's stock valued at $40,000 after purchasing an additional 575 shares during the period. Banque Transatlantique SA purchased a new position in Dutch Bros during the 1st quarter valued at about $38,000. GAMMA Investing LLC increased its holdings in Dutch Bros by 85.3% during the 1st quarter. GAMMA Investing LLC now owns 821 shares of the company's stock valued at $51,000 after purchasing an additional 378 shares during the period. Finally, Stone House Investment Management LLC purchased a new position in Dutch Bros during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 85.54% of the company's stock.

Dutch Bros Stock Performance

Dutch Bros stock opened at $56.98 on Friday. The stock's 50 day simple moving average is $59.73 and its two-hundred day simple moving average is $63.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.42 and a current ratio of 1.64. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 121.24, a PEG ratio of 3.13 and a beta of 2.55. Dutch Bros Inc. has a fifty-two week low of $32.68 and a fifty-two week 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 the consensus estimate of $0.18 by $0.08. The business had revenue of $415.81 million for the quarter, compared to analysts' expectations of $403.24 million. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%.The business's revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. As a group, analysts expect that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Travis Boersma sold 787,681 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $68.94, for a total value of $54,302,728.14. Following the sale, the chairman directly owned 975,031 shares of the company's stock, valued at $67,218,637.14. The trade was a 44.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $65.17, for a total value of $31,460,817.50. Following the completion of the sale, the insider directly owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. This represents a 27.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,161,101 shares of company stock worth $207,633,882. Insiders own 42.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BROS shares. The Goldman Sachs Group reduced their price target on Dutch Bros from $81.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday, September 30th. Barclays reduced their price target on Dutch Bros from $92.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday. Guggenheim boosted their price target on Dutch Bros from $72.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Bank of America boosted their price target on Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, CICC Research started coverage on Dutch Bros in a report on Monday, June 30th. They set an "outperform" rating and a $80.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Dutch Bros presently has a consensus rating of "Buy" and a consensus target price of $77.82.

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.

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