Wealth Enhancement Advisory Services LLC Sells 14,243 Shares of Dutch Bros Inc. $BROS

Key Points

• Wealth Enhancement Advisory Services LLC sold 14,243 shares of Dutch Bros Inc., reducing its stake by 59.9% and leaving it with 9,530 shares valued at $641,000.
• Several institutional investors have recently adjusted their stakes in Dutch Bros, with notable increases from firms like Jump Financial LLC and Woodline Partners LP.
• Analysts have varied views on Dutch Bros' stock, with price targets ranging from $72.00 to $85.00 and a current consensus rating of "Moderate Buy."

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 59.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,530 shares of the company's stock after selling 14,243 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Dutch Bros were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. bought a new position in Dutch Bros during the first quarter worth about $6,438,000. Jump Financial LLC boosted its holdings in Dutch Bros by 47.3% during the first quarter. Jump Financial LLC now owns 223,771 shares of the company's stock worth $13,816,000 after buying an additional 71,834 shares during the last quarter. West Michigan Advisors LLC bought a new position in Dutch Bros during the first quarter worth about $401,000. Woodline Partners LP boosted its holdings in Dutch Bros by 772.6% during the first quarter. Woodline Partners LP now owns 209,027 shares of the company's stock worth $12,905,000 after buying an additional 185,072 shares during the last quarter. Finally, Cherry Creek Investment Advisors Inc. lifted its holdings in shares of Dutch Bros by 63.9% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 21,253 shares of the company's stock valued at $1,312,000 after purchasing an additional 8,282 shares in the last quarter. Institutional investors own 85.54% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BROS. The Goldman Sachs Group cut their price objective on Dutch Bros from $81.00 to $72.00 and set a "neutral" rating on the stock in a report on Tuesday. CICC Research began coverage on Dutch Bros in a report on Monday, June 30th. They set an "outperform" rating and a $80.00 price objective on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $85.00 price objective on shares of Dutch Bros in a report on Wednesday, September 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dutch Bros in a report on Saturday, September 27th. Finally, Guggenheim lifted their price objective on Dutch Bros from $72.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Dutch Bros presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.88.

Dutch Bros Trading Down 3.5%

BROS stock opened at $50.52 on Friday. 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 company's 50-day simple moving average is $62.46 and its 200 day simple moving average is $64.06. Dutch Bros Inc. has a 52 week low of $30.49 and a 52 week high of $86.88. The company has a market capitalization of $8.31 billion, a PE ratio of 107.49, a price-to-earnings-growth ratio of 2.89 and a beta of 2.55.

Dutch Bros (NYSE:BROS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.18 by $0.08. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The business had revenue of $415.81 million for the quarter, compared to the consensus estimate of $403.24 million. During the same period in the prior year, the company posted $0.19 earnings per share. Dutch Bros's revenue was up 28.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dutch Bros Inc. will post 0.57 earnings per share for the current year.

Insider Buying and Selling at Dutch Bros

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

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.

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