Wesbanco Bank Inc. Reduces Stock Position in Dutch Bros Inc. $BROS

Key Points

• Wesbanco Bank Inc. has reduced its stake in Dutch Bros Inc. by 26.5%, holding 20,200 shares valued at approximately $1.38 million after selling 7,285 shares in Q2.
• Despite Wesbanco's reduction, other institutional investors like 1832 Asset Management and BNP Paribas Financial Markets significantly increased their holdings, contributing to a total institutional ownership of 85.54%.
• Dutch Bros recently reported a Q2 earnings per share of $0.26, surpassing expectations, with revenue growth of 28% year-over-year, indicating strong financial performance.

Wesbanco Bank Inc. lessened its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 26.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,200 shares of the company's stock after selling 7,285 shares during the quarter. Wesbanco Bank Inc.'s holdings in Dutch Bros were worth $1,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. 1832 Asset Management L.P. lifted its holdings in shares of Dutch Bros by 29.9% in the 1st quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company's stock valued at $211,163,000 after buying an additional 788,100 shares during the period. Invesco Ltd. lifted its holdings in shares of Dutch Bros by 16.4% in the 1st quarter. Invesco Ltd. now owns 1,365,281 shares of the company's stock valued at $84,292,000 after buying an additional 192,458 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Dutch Bros by 25.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,324,676 shares of the company's stock valued at $81,786,000 after buying an additional 272,473 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Dutch Bros by 3.0% in the 1st quarter. Driehaus Capital Management LLC now owns 1,320,807 shares of the company's stock valued at $81,547,000 after buying an additional 38,989 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Dutch Bros by 1,572.2% in the 1st quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company's stock valued at $70,661,000 after buying an additional 1,076,045 shares during the period. Institutional investors and hedge funds own 85.54% of the company's stock.

Dutch Bros Trading Down 3.7%

BROS stock opened at $62.17 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69. 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 $10.23 billion, a price-to-earnings ratio of 132.28, a PEG ratio of 3.57 and a beta of 2.64. The business's 50-day moving average is $64.85 and its 200 day moving average is $65.03.

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

Insider Buying and Selling

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $65.17, for a total value of $31,460,817.50. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Travis Boersma sold 1,250,371 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the completion of the transaction, the chairman directly owned 1,279,144 shares in the company, valued at $83,361,814.48. This trade represents a 49.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,161,101 shares of company stock worth $207,633,882 over the last three months. Corporate insiders own 42.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BROS. Morgan Stanley restated an "overweight" rating and issued a $84.00 price target (up previously from $80.00) on shares of Dutch Bros in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price target on Dutch Bros from $83.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Melius Research upgraded Dutch Bros to a "strong-buy" rating in a research note on Monday, July 14th. UBS Group lifted their price target on Dutch Bros from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Finally, Barclays lifted their price target on Dutch Bros from $84.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Dutch Bros presently has an average rating of "Buy" and a consensus price target of $80.06.

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.

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