SG Americas Securities LLC Increases Stake in Dutch Bros Inc. (NYSE:BROS)

SG Americas Securities LLC lifted its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 172.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 139,364 shares of the company's stock after buying an additional 88,176 shares during the quarter. SG Americas Securities LLC owned approximately 0.09% of Dutch Bros worth $8,604,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Dutch Bros during the fourth quarter valued at $94,478,000. Allspring Global Investments Holdings LLC raised its stake in Dutch Bros by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 885,055 shares of the company's stock valued at $49,785,000 after purchasing an additional 17,402 shares in the last quarter. Scratch Capital LLC purchased a new stake in Dutch Bros during the fourth quarter valued at $1,260,000. Empowered Funds LLC purchased a new stake in Dutch Bros during the fourth quarter valued at $1,530,000. Finally, Versor Investments LP raised its stake in Dutch Bros by 128.7% during the fourth quarter. Versor Investments LP now owns 18,400 shares of the company's stock valued at $964,000 after purchasing an additional 10,355 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BROS. Piper Sandler decreased their price target on shares of Dutch Bros from $70.00 to $63.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. TD Securities reaffirmed a "buy" rating and set a $78.00 price target on shares of Dutch Bros in a research note on Thursday, May 8th. UBS Group lowered their target price on shares of Dutch Bros from $90.00 to $80.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wells Fargo & Company began coverage on shares of Dutch Bros in a report on Wednesday, March 26th. They issued an "overweight" rating and a $80.00 target price for the company. Finally, Barclays raised their target price on shares of Dutch Bros from $76.00 to $82.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $75.73.

Dutch Bros Stock Down 4.7%

Dutch Bros stock traded down $3.39 during midday trading on Friday, hitting $68.01. 4,156,534 shares of the company's stock were exchanged, compared to its average volume of 3,174,330. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. Dutch Bros Inc. has a 12 month low of $26.96 and a 12 month high of $86.88. The firm has a 50-day moving average of $65.08 and a two-hundred day moving average of $63.09. The company has a market cap of $11.19 billion, a PE ratio of 200.05, a P/E/G ratio of 4.23 and a beta of 2.73.

Dutch Bros (NYSE:BROS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. Dutch Bros had a net margin of 2.75% and a return on equity of 6.78%. The company had revenue of $355.15 million for the quarter, compared to analysts' expectations of $343.30 million. During the same period in the prior year, the business earned $0.09 EPS. The firm's quarterly revenue was up 28.7% on a year-over-year basis. As a group, analysts expect that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 540,638 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $65.95, for a total value of $35,655,076.10. Following the sale, the chairman now directly owns 2,099,499 shares in the company, valued at approximately $138,461,959.05. This trade represents a 20.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $72.02, for a total transaction of $38,280,502.52. Following the completion of the transaction, the insider now directly owns 2,373,933 shares of the company's stock, valued at $170,970,654.66. The trade was a 18.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,465,214 shares of company stock worth $237,721,138 in the last three months. Corporate insiders own 42.40% of the company's stock.

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.