State of New Jersey Common Pension Fund D Sells 4,599 Shares of Dutch Bros Inc. $BROS

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Dutch Bros Inc. by 10.3%, now owning 39,857 shares valued at approximately $2.46 million.
• Despite this selling, other institutional investors like Coppell Advisory Solutions and AdvisorNet Financial have increased their stakes, reflecting a broader 85.54% institutional ownership of Dutch Bros.
• Dutch Bros reported a 28% year-over-year revenue increase with a quarterly EPS of $0.26, exceeding analysts' expectations of $0.18, indicating growing financial performance.

State of New Jersey Common Pension Fund D reduced its position in Dutch Bros Inc. (NYSE:BROS - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,857 shares of the company's stock after selling 4,599 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Dutch Bros were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of BROS. Townsquare Capital LLC purchased a new stake in Dutch Bros in the fourth quarter worth $200,000. Mariner LLC grew its position in shares of Dutch Bros by 14.4% in the fourth quarter. Mariner LLC now owns 24,920 shares of the company's stock valued at $1,305,000 after purchasing an additional 3,140 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Dutch Bros by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 731,667 shares of the company's stock valued at $38,325,000 after buying an additional 117,878 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Dutch Bros by 254.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,444 shares of the company's stock valued at $9,557,000 after buying an additional 130,931 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Dutch Bros by 9.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,052,203 shares of the company's stock valued at $55,114,000 after buying an additional 87,104 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the business's stock in a transaction dated 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 sale, the insider owned 1,279,144 shares of the company's stock, valued at approximately $83,361,814.48. The trade was a 27.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Travis Boersma sold 1,250,371 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total value of $81,486,678.07. Following the completion of the sale, the chairman directly owned 1,279,144 shares of the company's stock, valued at approximately $83,361,814.48. This trade represents a 49.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,373,420 shares of company stock valued at $153,331,154. Corporate insiders own 42.40% of the company's stock.

Dutch Bros Price Performance

BROS stock traded up $4.17 during mid-day trading on Monday, hitting $69.69. 5,828,049 shares of the stock were exchanged, compared to its average volume of 3,217,381. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.42. The business has a fifty day moving average price of $64.65 and a 200 day moving average price of $65.82. Dutch Bros Inc. has a 12 month low of $30.30 and a 12 month high of $86.88. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 148.28, a PEG ratio of 3.68 and a beta of 2.63.

Dutch Bros (NYSE:BROS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $415.81 million during the quarter, compared to analyst estimates of $403.24 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company's revenue was up 28.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Dutch Bros Inc. will post 0.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BROS. Stifel Nicolaus dropped their price objective on Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. CICC Research began coverage on Dutch Bros in a research note on Monday, June 30th. They set an "outperform" rating and a $80.00 price objective for the company. TD Cowen reissued a "buy" rating and set a $86.00 price objective on shares of Dutch Bros in a research note on Tuesday, August 19th. Bank of America lifted their price objective on Dutch Bros from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, UBS Group dropped their price objective on Dutch Bros from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Two research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $79.76.

Dutch Bros 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.