M&T Bank Corp Purchases 91,468 Shares of Dutch Bros Inc. $BROS

Key Points

• M&T Bank purchased 91,468 shares of Dutch Bros, increasing its stake by 1,559.3% to 97,334 shares (about 0.06% of the company) worth roughly $5.96 million per its SEC filing.
• Dutch Bros beat quarterly expectations with EPS of $0.17 vs. $0.10 and revenue of $443.6M (up 29.4% year-over-year), and the stock was trading higher (opened $57.51) with a market cap of about $9.46 billion and a high P/E of 89.86.
• Analyst sentiment is broadly positive—MarketBeat shows a consensus rating of “Moderate Buy” with an average target of $75.52—and institutional investors hold about 85.54% of the shares.

M&T Bank Corp grew its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 1,559.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,334 shares of the company's stock after buying an additional 91,468 shares during the period. M&T Bank Corp owned 0.06% of Dutch Bros worth $5,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BROS. Marshall Wace LLP increased its stake in shares of Dutch Bros by 7.2% in the 3rd quarter. Marshall Wace LLP now owns 2,690,760 shares of the company's stock worth $140,834,000 after acquiring an additional 180,993 shares in the last quarter. Ninety One UK Ltd boosted its stake in Dutch Bros by 1.5% during the fourth quarter. Ninety One UK Ltd now owns 2,625,483 shares of the company's stock worth $160,732,000 after acquiring an additional 39,781 shares in the last quarter. Invesco Ltd. boosted its stake in Dutch Bros by 4.0% during the third quarter. Invesco Ltd. now owns 2,426,657 shares of the company's stock worth $127,011,000 after acquiring an additional 93,515 shares in the last quarter. State Street Corp grew its holdings in Dutch Bros by 6.6% in the second quarter. State Street Corp now owns 1,978,441 shares of the company's stock worth $135,266,000 after purchasing an additional 121,683 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Dutch Bros by 11.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,943,641 shares of the company's stock worth $101,730,000 after purchasing an additional 196,316 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Trading Up 5.4%

Shares of NYSE BROS opened at $57.51 on Friday. The firm's 50 day moving average price is $51.92 and its 200-day moving average price is $55.83. Dutch Bros Inc. has a 52-week low of $44.58 and a 52-week high of $77.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.28 and a current ratio of 1.49. The company has a market cap of $9.46 billion, a PE ratio of 89.86, a P/E/G ratio of 1.99 and a beta of 2.50.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.07. The company had revenue of $443.61 million during the quarter, compared to the consensus estimate of $424.44 million. Dutch Bros had a net margin of 4.87% and a return on equity of 9.56%. The firm's quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 earnings per share. On average, equities research analysts expect that Dutch Bros Inc. will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

BROS has been the subject of several recent research reports. UBS Group reiterated a "buy" rating on shares of Dutch Bros in a report on Friday, April 10th. Sanford C. Bernstein restated an "overweight" rating and issued a $76.00 price target on shares of Dutch Bros in a research note on Wednesday, January 7th. Barclays raised their price objective on Dutch Bros from $72.00 to $76.00 and gave the company an "overweight" rating in a research report on Wednesday, January 7th. BNP Paribas Exane assumed coverage on Dutch Bros in a research note on Monday, March 30th. They set an "outperform" rating and a $73.00 price objective for the company. Finally, KeyCorp reissued an "overweight" rating on shares of Dutch Bros in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.52.

Dutch Bros Profile

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.

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