Man Group plc Sells 297,728 Shares of Dutch Bros Inc. (NYSE:BROS)

Man Group plc reduced its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 25.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 869,370 shares of the company's stock after selling 297,728 shares during the period. Man Group plc owned about 0.56% of Dutch Bros worth $45,538,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Dutch Bros during the 4th quarter valued at $25,000. Coppell Advisory Solutions LLC raised its stake in Dutch Bros by 638.6% in the fourth quarter. Coppell Advisory Solutions LLC now owns 517 shares of the company's stock worth $27,000 after buying an additional 447 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in Dutch Bros in the fourth quarter worth about $43,000. SBI Securities Co. Ltd. purchased a new position in shares of Dutch Bros during the 4th quarter worth approximately $53,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of Dutch Bros in the 4th quarter worth approximately $60,000. Institutional investors own 85.54% of the company's stock.

Dutch Bros Stock Performance

BROS traded down $3.28 during mid-day trading on Tuesday, reaching $68.63. 2,210,218 shares of the company traded hands, compared to its average volume of 3,144,272. The company's fifty day moving average price is $62.00 and its 200-day moving average price is $60.03. The stock has a market capitalization of $10.58 billion, a P/E ratio of 201.75, a P/E/G ratio of 4.23 and a beta of 2.71. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. Dutch Bros Inc. has a 52-week low of $26.96 and a 52-week high of $86.88.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. The company had revenue of $355.15 million during the quarter, compared to analysts' expectations of $343.30 million. Dutch Bros had a return on equity of 6.78% and a net margin of 2.75%. Dutch Bros's revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, sell-side analysts expect that Dutch Bros Inc. will post 0.57 EPS for the current year.

Insider Transactions at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of Dutch Bros stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $75.91, for a total transaction of $13,824,956.93. Following the transaction, the insider now directly owns 2,310,834 shares of the company's stock, valued at $175,415,408.94. The trade was a 7.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Travis Boersma sold 679,996 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the completion of the sale, the chairman now directly owns 2,640,779 shares of the company's stock, valued at $197,451,045.83. This represents a 20.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,643,632 shares of company stock worth $201,509,627 in the last quarter. Company insiders own 42.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BROS. TD Securities reissued a "buy" rating and set a $78.00 price objective on shares of Dutch Bros in a research report on Thursday, May 8th. Bank of America lifted their target price on shares of Dutch Bros from $61.00 to $72.00 and gave the company a "buy" rating in a report on Monday, January 27th. Royal Bank of Canada initiated coverage on Dutch Bros in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $83.00 price target on the stock. Piper Sandler lowered their price objective on Dutch Bros from $70.00 to $63.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Finally, Stifel Nicolaus cut their target price on Dutch Bros from $85.00 to $82.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $75.73.

Dutch Bros Company 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.