Principal Financial Group Inc. Acquires New Position in Dutch Bros Inc. $BROS

Key Points

• Principal Financial Group disclosed a new first-quarter stake in Dutch Bros, buying 285,371 shares valued at about $14.46 million.
• Several other institutional investors also adjusted their positions, and overall institutional ownership stands at 85.54% of the company’s stock.
• Insider selling has been notable, with Chairman Travis Boersma and major shareholder Dm Individual Aggregator, LLC both selling shares; analysts remain broadly positive, with Dutch Bros carrying a Moderate Buy consensus and a $77.50 average price target.

Principal Financial Group Inc. acquired 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 13F filing with the Securities & Exchange Commission. The institutional investor acquired 285,371 shares of the company's stock, valued at approximately $14,457,000. Principal Financial Group Inc. owned approximately 0.17% of Dutch Bros as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Dutch Bros in the 1st quarter valued at approximately $318,000. Empowered Funds LLC lifted its stake in Dutch Bros by 15.9% during the first quarter. Empowered Funds LLC now owns 33,843 shares of the company's stock worth $2,089,000 after purchasing an additional 4,633 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Dutch Bros by 7.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 305,714 shares of the company's stock worth $18,875,000 after purchasing an additional 22,323 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Dutch Bros by 24.2% in the second quarter. California Public Employees Retirement System now owns 198,895 shares of the company's stock worth $13,598,000 after purchasing an additional 38,697 shares during the period. Finally, State Street Corp boosted 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. Institutional investors own 85.54% of the company's stock.

Insider Transactions at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $16,451,686.10. Following the completion of the transaction, the insider owned 2,410,800 shares in the company, valued at approximately $151,928,616. This represents a 9.77% decrease in their position. The transaction 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, Chairman Travis Boersma sold 750,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $63.02, for a total transaction of $47,265,000.00. Following the completion of the sale, the chairman owned 2,410,800 shares in the company, valued at $151,928,616. The trade was a 23.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $243,021,771 over the last three months. 38.90% of the stock is currently owned by company insiders.

Dutch Bros Stock Performance

BROS stock opened at $64.03 on Friday. Dutch Bros Inc. has a 1 year low of $44.58 and a 1 year high of $74.65. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 100.04, a PEG ratio of 1.97 and a beta of 2.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 1.33. The stock's fifty day moving average is $62.95 and its two-hundred day moving average is $57.38.

Dutch Bros (NYSE:BROS - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The business had revenue of $464.41 million during the quarter, compared to analyst estimates of $449.69 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The company's quarterly revenue was up 30.7% on a year-over-year basis. On average, research analysts predict that Dutch Bros Inc. will post 0.84 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on BROS shares. TD Cowen reiterated a "buy" rating and set a $73.00 target price on shares of Dutch Bros in a research note on Wednesday, June 10th. Morgan Stanley raised their price target on shares of Dutch Bros from $87.00 to $88.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. UBS Group reaffirmed a "buy" rating on shares of Dutch Bros in a report on Wednesday, May 20th. Barclays lowered their price objective on shares of Dutch Bros from $76.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Finally, Stephens initiated coverage on shares of Dutch Bros in a report on Thursday, July 16th. They issued an "overweight" rating and a $80.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.50.

About Dutch Bros

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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