Millennium Management LLC Buys 90,166 Shares of Dutch Bros Inc. (NYSE:BROS)

Millennium Management LLC raised its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,295,545 shares of the company's stock after buying an additional 90,166 shares during the period. Millennium Management LLC owned about 0.84% of Dutch Bros worth $67,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Jefferies Financial Group Inc. bought a new position in Dutch Bros during the fourth quarter valued at approximately $2,585,000. Gotham Asset Management LLC bought a new position in shares of Dutch Bros during the 4th quarter valued at $485,000. Focus Partners Wealth bought a new stake in Dutch Bros in the fourth quarter worth $263,000. FORA Capital LLC bought a new stake in Dutch Bros in the fourth quarter worth $1,078,000. Finally, Deutsche Bank AG boosted its position in Dutch Bros by 8,912.8% during the fourth quarter. Deutsche Bank AG now owns 546,268 shares of the company's stock valued at $28,614,000 after buying an additional 540,207 shares during the period. Hedge funds and other institutional investors own 85.54% of the company's stock.

Dutch Bros Stock Down 2.6%

Shares of NYSE BROS traded down $1.89 during mid-day trading on Monday, hitting $71.83. 3,238,970 shares of the stock traded hands, compared to its average volume of 3,147,343. The stock has a fifty day moving average price of $61.81 and a 200-day moving average price of $59.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 211.27, a PEG ratio of 4.23 and a beta of 2.71. 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 announced its earnings results on Wednesday, May 7th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. The firm had revenue of $355.15 million for the quarter, compared to analysts' expectations of $343.30 million. Dutch Bros had a net margin of 2.75% and a return on equity of 6.78%. The company's quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. Research analysts anticipate that Dutch Bros Inc. will post 0.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price 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. Morgan Stanley set a $80.00 target price on shares of Dutch Bros and gave the stock an "overweight" rating in a report on Monday, April 14th. Bank of America upped their price target 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 shares of Dutch Bros in a report on Wednesday, May 14th. They issued an "outperform" rating and a $83.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on shares of Dutch Bros from $66.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $75.73.

Insider Activity

In related news, Chairman Travis Boersma sold 755,551 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $77.73, for a total value of $58,728,979.23. Following the transaction, the chairman now owns 2,903,316 shares in the company, valued at $225,674,752.68. The trade was a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the company's 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 $19,629,891.49. Following the completion of the transaction, the insider now owns 2,640,779 shares in the company, valued at approximately $197,451,045.83. This represents a 9.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,643,632 shares of company stock worth $201,509,627. Insiders own 42.40% of the company's stock.

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.