PDT Partners LLC Acquires 78,291 Shares of Dutch Bros Inc. $BROS

Key Points

• PDT Partners LLC increased its stake in Dutch Bros Inc. by 159.3% during the 1st quarter, now holding 127,425 shares valued at approximately $7.87 million.
• Analysts have raised their price targets for Dutch Bros, with Guggenheim setting a new target of $76.00, while Barclays increased theirs to $92.00, reflecting a positive outlook for the stock.
• Major shareholders, including chairman Travis Boersma, have recently sold significant numbers of shares, indicating a 49.43% decrease in Boersma's ownership following a sale of over 1.25 million shares.

PDT Partners LLC grew its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 159.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,425 shares of the company's stock after acquiring an additional 78,291 shares during the period. Dutch Bros accounts for about 0.6% of PDT Partners LLC's investment portfolio, making the stock its 15th biggest position. PDT Partners LLC owned approximately 0.08% of Dutch Bros worth $7,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Berkshire Capital Holdings Inc. bought a new stake in shares of Dutch Bros during the first quarter valued at approximately $6,438,000. Jump Financial LLC increased its stake in shares of Dutch Bros by 47.3% in the 1st quarter. Jump Financial LLC now owns 223,771 shares of the company's stock valued at $13,816,000 after buying an additional 71,834 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Dutch Bros during the fourth quarter worth $267,000. West Michigan Advisors LLC acquired a new position in shares of Dutch Bros during the first quarter valued at $401,000. Finally, Cherry Creek Investment Advisors Inc. boosted its holdings in Dutch Bros by 63.9% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 21,253 shares of the company's stock valued at $1,312,000 after acquiring an additional 8,282 shares during the last quarter. 85.54% of the stock is owned by institutional investors.

Dutch Bros Trading Down 0.5%

NYSE:BROS traded down $0.32 on Thursday, reaching $71.39. The company's stock had a trading volume of 2,699,258 shares, compared to its average volume of 3,209,628. The firm has a market cap of $11.74 billion, a PE ratio of 151.89, a PEG ratio of 4.03 and a beta of 2.64. 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 business's 50-day moving average price is $65.19 and its two-hundred day moving average price is $65.88. Dutch Bros Inc. has a 1-year low of $30.49 and a 1-year high of $86.88.

Dutch Bros (NYSE:BROS - Get Free Report) last released 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. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%.The business had revenue of $415.81 million for the quarter, compared to analysts' expectations of $403.24 million. During the same quarter in the previous year, the business posted $0.19 EPS. Dutch Bros's revenue for the quarter was up 28.0% on a year-over-year basis. Equities research analysts anticipate that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dutch Bros news, Chairman Travis Boersma sold 1,250,371 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 $81,486,678.07. Following the sale, the chairman owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. The trade was a 49.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the company'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 transaction, the insider directly owned 1,279,144 shares of the company's stock, valued at approximately $83,361,814.48. This trade represents a 27.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,161,101 shares of company stock valued at $207,633,882. Company insiders own 42.40% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on BROS shares. Bank of America lifted their price objective on Dutch Bros from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Melius Research upgraded shares of Dutch Bros to a "strong-buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group started coverage on shares of Dutch Bros in a research note on Thursday, June 26th. They set a "neutral" rating and a $75.00 price target for the company. Royal Bank Of Canada increased their price objective on shares of Dutch Bros from $83.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Robert W. Baird lifted their target price on shares of Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dutch Bros presently has a consensus rating of "Buy" and an average target price of $80.06.

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.