Polar Asset Management Partners Inc. Acquires New Stake in Dutch Bros Inc. $BROS

Key Points

• Polar Asset Management Partners Inc. invested approximately $1.01 million in Dutch Bros, acquiring 16,300 shares during the first quarter.
• Analysts have shown confidence in Dutch Bros, with several firms, including Bank of America and UBS Group, raising their price targets and issuing "buy" or "overweight" ratings on the stock.
• Despite recent analyst optimism, Dutch Bros shares are down 7.6%, following a significant insider sell-off that involved notable shareholders selling large quantities of stock.

Polar Asset Management Partners Inc. purchased a new position in Dutch Bros Inc. (NYSE:BROS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,300 shares of the company's stock, valued at approximately $1,006,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AdvisorNet Financial Inc bought a new position in Dutch Bros in the first quarter worth approximately $31,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Dutch Bros in the first quarter worth approximately $31,000. Banque Transatlantique SA purchased a new stake in shares of Dutch Bros in the first quarter worth approximately $38,000. Gould Capital LLC raised its stake in shares of Dutch Bros by 20.4% in the fourth quarter. Gould Capital LLC now owns 826 shares of the company's stock worth $43,000 after purchasing an additional 140 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Dutch Bros in the fourth quarter worth approximately $43,000. Institutional investors own 85.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Morgan Stanley reissued an "overweight" rating and issued a $84.00 price objective (up from $80.00) on shares of Dutch Bros in a research note on Thursday, August 7th. Melius Research raised Dutch Bros to a "strong-buy" rating in a research note on Monday, July 14th. CICC Research started coverage on Dutch Bros in a research note on Monday, June 30th. They issued an "outperform" rating and a $80.00 price objective for the company. Royal Bank Of Canada increased their price target on Dutch Bros from $83.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Guggenheim increased their price target on Dutch Bros from $72.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Dutch Bros currently has a consensus rating of "Buy" and a consensus price target of $80.06.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 787,681 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.94, for a total value of $54,302,728.14. Following the completion of the transaction, the chairman directly owned 975,031 shares of the company's stock, valued at $67,218,637.14. This trade represents a 44.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the firm's stock in a transaction 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 completion of the transaction, the insider directly owned 1,279,144 shares of the company's stock, valued at $83,361,814.48. The trade was a 27.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,161,101 shares of company stock valued at $207,633,882 over the last three months. Company insiders own 42.40% of the company's stock.

Dutch Bros Stock Performance

NYSE:BROS traded down $2.09 during trading hours on Friday, reaching $64.41. The stock had a trading volume of 1,413,838 shares, compared to its average volume of 3,229,146. 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 stock has a 50 day simple moving average of $64.98 and a 200 day simple moving average of $65.35. Dutch Bros Inc. has a 12-month low of $30.49 and a 12-month high of $86.88. The stock has a market cap of $10.60 billion, a P/E ratio of 137.39, a price-to-earnings-growth ratio of 3.60 and a beta of 2.64.

Dutch Bros (NYSE:BROS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $403.24 million. During the same period last year, the business posted $0.19 earnings per share. The business's revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts forecast that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

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.