Merit Financial Group LLC Takes $359,000 Position in Dutch Bros Inc. (NYSE:BROS)

Merit Financial Group LLC purchased a new stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,818 shares of the company's stock, valued at approximately $359,000.

Several other large investors have also made changes to their positions in BROS. Empowered Funds LLC acquired a new position in shares of Dutch Bros during the fourth quarter valued at $1,530,000. Kestra Private Wealth Services LLC increased its holdings in Dutch Bros by 6.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 28,620 shares of the company's stock valued at $1,499,000 after purchasing an additional 1,697 shares during the last quarter. Equitable Trust Co. bought a new stake in Dutch Bros in the fourth quarter valued at about $401,000. Allspring Global Investments Holdings LLC increased its holdings in Dutch Bros by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 885,055 shares of the company's stock valued at $49,785,000 after purchasing an additional 17,402 shares during the last quarter. Finally, Aljian Capital Management LLC bought a new stake in Dutch Bros in the fourth quarter valued at about $277,000. Institutional investors and hedge funds own 85.54% of the company's stock.

Insider Transactions at Dutch Bros

In related news, Chairman Travis Boersma sold 540,638 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $65.95, for a total transaction of $35,655,076.10. Following the completion of the transaction, the chairman now directly owns 2,099,499 shares of the company's stock, valued at approximately $138,461,959.05. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $72.02, for a total value of $38,280,502.52. Following the transaction, the insider now directly owns 2,373,933 shares of the company's stock, valued at $170,970,654.66. This trade represents a 18.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,465,214 shares of company stock valued at $237,721,138 over the last three months. Company insiders own 42.40% of the company's stock.

Dutch Bros Stock Down 4.7%

Shares of BROS stock traded down $3.39 on Friday, hitting $68.01. 4,156,534 shares of the stock were exchanged, compared to its average volume of 3,169,547. The company has a current ratio of 1.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $11.19 billion, a P/E ratio of 200.05, a price-to-earnings-growth ratio of 4.23 and a beta of 2.73. The business has a 50-day moving average of $65.08 and a 200 day moving average of $62.95. Dutch Bros Inc. has a fifty-two week low of $26.96 and a fifty-two week high of $86.88.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $355.15 million during the quarter, compared to analysts' expectations of $343.30 million. Dutch Bros had a return on equity of 6.78% and a net margin of 2.75%. Dutch Bros's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Equities analysts anticipate that Dutch Bros Inc. will post 0.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BROS shares. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective on shares of Dutch Bros in a report on Monday, March 31st. UBS Group dropped their price objective on Dutch Bros from $90.00 to $80.00 and set a "buy" rating for the company in a report on Monday, May 5th. Stifel Nicolaus dropped their price objective on Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Piper Sandler dropped their price objective on Dutch Bros from $70.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Royal Bank of Canada initiated coverage on Dutch Bros in a report on Wednesday, May 14th. They issued an "outperform" rating and a $83.00 price target for the company. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $75.73.

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.