Wesbanco Bank Inc. Decreases Stake in Dutch Bros Inc. (NYSE:BROS)

Wesbanco Bank Inc. trimmed its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 20.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,485 shares of the company's stock after selling 7,000 shares during the period. Wesbanco Bank Inc.'s holdings in Dutch Bros were worth $1,697,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC purchased a new stake in Dutch Bros during the 4th quarter valued at about $1,530,000. Kestra Private Wealth Services LLC boosted its position in Dutch Bros by 6.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 28,620 shares of the company's stock worth $1,499,000 after purchasing an additional 1,697 shares during the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in Dutch Bros during the fourth quarter valued at approximately $304,000. Equitable Trust Co. bought a new stake in shares of Dutch Bros during the 4th quarter valued at $401,000. Finally, Allspring Global Investments Holdings LLC increased its position in Dutch Bros by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 885,055 shares of the company's stock worth $49,785,000 after buying an additional 17,402 shares in the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Trading Down 4.3%

NYSE:BROS traded down $3.13 during midday trading on Tuesday, hitting $70.25. 3,196,853 shares of the company traded hands, compared to its average volume of 3,189,876. The company has a current ratio of 1.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $11.55 billion, a P/E ratio of 206.62, a P/E/G ratio of 4.23 and a beta of 2.73. Dutch Bros Inc. has a 12-month low of $26.96 and a 12-month high of $86.88. The firm's fifty day moving average is $63.73 and its 200-day moving average is $62.60.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.03. Dutch Bros had a net margin of 2.75% and a return on equity of 6.78%. The firm 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 posted $0.09 earnings per share. The business's revenue for the quarter was up 28.7% on a year-over-year basis. On average, sell-side analysts predict that Dutch Bros Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Securities restated a "buy" rating and set a $78.00 price objective on shares of Dutch Bros in a research report on Thursday, May 8th. Robert W. Baird boosted their price objective on Dutch Bros from $66.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Barclays upped their price objective on Dutch Bros from $76.00 to $82.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. UBS Group decreased their target price on Dutch Bros from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Stifel Nicolaus dropped their price target 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. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $75.73.

Insider Activity

In related news, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $72.02, for a total transaction of $38,280,502.52. Following the transaction, the insider now directly owns 2,373,933 shares of the company's stock, valued at $170,970,654.66. This represents a 18.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Travis Boersma sold 704,995 shares of Dutch Bros stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $68.24, for a total transaction of $48,108,858.80. Following the sale, the chairman now owns 2,218,611 shares of the company's stock, valued at $151,398,014.64. The trade was a 24.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,465,214 shares of company stock worth $237,721,138. 42.40% of the stock is currently owned by corporate 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.