Ninepoint Partners LP Takes $2.71 Million Position in Dutch Bros Inc. $BROS

Key Points

• Ninepoint Partners initiated a $2.71 million position in Dutch Bros, buying 37,691 shares during the second quarter. Institutional investors collectively own 85.54% of the company.
• Dutch Bros beat quarterly expectations, reporting adjusted earnings of $0.33 per share versus $0.29 expected and revenue of $550.85 million, up 32.5% year over year.
• BROS opened at $49.30, below the analyst consensus price target of $77.15; analysts maintain a “Moderate Buy” consensus. Meanwhile, insiders sold $243 million of stock over the past three months, including significant sales by the chairman and CEO.

Ninepoint Partners LP purchased a new position in Dutch Bros Inc. (NYSE:BROS - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 37,691 shares of the company's stock, valued at approximately $2,707,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Orca Investment Management LLC bought a new position in Dutch Bros during the 2nd quarter valued at approximately $1,211,000. Hyperion Asset Management Ltd purchased a new stake in shares of Dutch Bros in the second quarter worth $42,946,000. Wasatch Advisors LP grew its stake in shares of Dutch Bros by 17.8% in the second quarter. Wasatch Advisors LP now owns 1,038,903 shares of the company's stock worth $74,604,000 after acquiring an additional 157,098 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Dutch Bros by 7.1% during the second quarter. Handelsbanken Fonder AB now owns 34,600 shares of the company's stock valued at $2,485,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Gradient Investments LLC bought a new position in shares of Dutch Bros during the second quarter valued at $979,000. Hedge funds and other institutional investors own 85.54% of the company's stock.

Dutch Bros Stock Performance

Shares of BROS stock opened at $49.30 on Friday. The company has a 50 day moving average price of $63.48 and a 200-day moving average price of $56.90. Dutch Bros Inc. has a 52 week low of $44.58 and a 52 week high of $74.65. The firm has a market capitalization of $8.61 billion, a PE ratio of 68.47, a P/E/G ratio of 1.79 and a beta of 2.32. The company has a quick ratio of 1.19, a current ratio of 1.35 and a debt-to-equity ratio of 0.20.

Dutch Bros (NYSE:BROS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. Dutch Bros had a net margin of 4.91% and a return on equity of 10.01%. The company had revenue of $550.85 million for the quarter, compared to the consensus estimate of $525.38 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The firm's revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, equities research analysts expect that Dutch Bros Inc. will post 0.87 earnings per share for the current year.

Analyst Ratings Changes

BROS has been the topic of several recent analyst reports. Citigroup reissued a "buy" rating on shares of Dutch Bros in a research report on Thursday, August 6th. Morgan Stanley upped their target price on shares of Dutch Bros from $87.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada cut their price target on shares of Dutch Bros from $75.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. UBS Group reissued a "buy" rating on shares of Dutch Bros in a research report on Tuesday, July 28th. Finally, DA Davidson decreased their price objective on shares of Dutch Bros from $90.00 to $85.00 and set a "buy" rating for the company in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Dutch Bros presently has a consensus rating of "Moderate Buy" and an average target price of $77.15.

Insider Transactions at Dutch Bros

In other news, Chairman Travis Boersma sold 750,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $47,265,000.00. Following the transaction, the chairman owned 2,410,800 shares in the company, valued at $151,928,616. This represents a 23.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christine Barone sold 42,031 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $60.13, for a total transaction of $2,527,324.03. Following the completion of the transaction, the chief executive officer directly owned 44,573 shares in the company, valued at approximately $2,680,174.49. The trade was a 48.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,086,245 shares of company stock worth $243,021,771 in the last three months. 38.90% of the stock is owned by insiders.

Dutch Bros Company 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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