Dutch Bros Inc. $BROS Shares Purchased by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC raised its stake in Dutch Bros Inc. by 120.6% during the first quarter, bringing its total ownership to approximately 1,082,414 shares valued at $66.8 million.
• Several other institutional investors, including D. E. Shaw & Co. and Invesco Ltd., also increased their positions in Dutch Bros, which now has 85.54% of its shares owned by institutional investors.
• Dutch Bros recently reported a $0.26 earnings per share (EPS) for the quarter, exceeding analysts' expectations and showing a 28% year-over-year increase in revenue.

Lord Abbett & CO. LLC raised its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 120.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,082,414 shares of the company's stock after purchasing an additional 591,657 shares during the quarter. Lord Abbett & CO. LLC owned 0.70% of Dutch Bros worth $66,828,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BROS. D. E. Shaw & Co. Inc. grew its position in Dutch Bros by 14.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company's stock valued at $268,095,000 after buying an additional 627,875 shares during the last quarter. Invesco Ltd. increased its stake in shares of Dutch Bros by 16.4% during the first quarter. Invesco Ltd. now owns 1,365,281 shares of the company's stock worth $84,292,000 after acquiring an additional 192,458 shares during the period. Millennium Management LLC increased its stake in shares of Dutch Bros by 7.5% during the fourth quarter. Millennium Management LLC now owns 1,295,545 shares of the company's stock worth $67,861,000 after acquiring an additional 90,166 shares during the period. Baird Financial Group Inc. raised its holdings in Dutch Bros by 2.3% during the fourth quarter. Baird Financial Group Inc. now owns 1,198,069 shares of the company's stock worth $62,755,000 after purchasing an additional 27,214 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Dutch Bros by 9.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,052,203 shares of the company's stock valued at $55,114,000 after purchasing an additional 87,104 shares during the period. Hedge funds and other institutional investors own 85.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BROS. Morgan Stanley reiterated an "overweight" rating and set a $84.00 target price (up previously from $80.00) on shares of Dutch Bros in a research report on Thursday, August 7th. TD Cowen reaffirmed a "buy" rating and set a $86.00 price objective on shares of Dutch Bros in a report on Tuesday. Robert W. Baird increased their price objective on Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Bank of America boosted their target price on shares of Dutch Bros from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Melius Research upgraded shares of Dutch Bros to a "strong-buy" rating in a report on Monday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Dutch Bros has a consensus rating of "Buy" and an average target price of $79.76.

Dutch Bros Price Performance

NYSE BROS traded down $1.1270 during trading hours on Tuesday, reaching $64.2730. The company's stock had a trading volume of 538,639 shares, compared to its average volume of 3,196,910. 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 company's 50-day moving average is $65.18 and its two-hundred day moving average is $65.86. Dutch Bros Inc. has a fifty-two week low of $30.30 and a fifty-two week high of $86.88. The stock has a market cap of $10.57 billion, a PE ratio of 136.75, a PEG ratio of 3.54 and a beta of 2.63.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $403.24 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. Analysts forecast that Dutch Bros Inc. will post 0.57 EPS for the current year.

Insider Buying and Selling

In other Dutch Bros news, Chairman Travis Boersma sold 722,841 shares of the stock in a transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total value of $10,641,352.28. Following the transaction, the insider directly owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. The trade was a 7.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,541,845 shares of company stock worth $102,452,100. 42.40% of the stock is owned by corporate 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.