Covestor Ltd Raises Stock Position in Dutch Bros Inc. (NYSE:BROS)

Covestor Ltd boosted its stake in Dutch Bros Inc. (NYSE:BROS) by 355.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,663 shares of the company’s stock after purchasing an additional 2,859 shares during the period. Covestor Ltd’s holdings in Dutch Bros were worth $117,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Dutch Bros by 35.0% in the first quarter. Vanguard Group Inc. now owns 6,412,246 shares of the company’s stock worth $211,604,000 after buying an additional 1,661,778 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Dutch Bros during the 2nd quarter valued at $57,435,000. Concurrent Investment Advisors LLC grew its position in shares of Dutch Bros by 846.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,240,399 shares of the company’s stock valued at $51,353,000 after acquiring an additional 1,109,370 shares during the period. Joho Capital LLC increased its stake in shares of Dutch Bros by 428.9% in the 1st quarter. Joho Capital LLC now owns 1,364,514 shares of the company’s stock worth $45,029,000 after purchasing an additional 1,106,511 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Dutch Bros by 8,247.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,081,306 shares of the company’s stock worth $44,766,000 after purchasing an additional 1,068,352 shares during the period. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Stifel Nicolaus reduced their price target on Dutch Bros from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barclays increased their target price on shares of Dutch Bros from $31.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. TD Cowen raised their target price on shares of Dutch Bros from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their price target on shares of Dutch Bros from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Dutch Bros from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

Insider Activity at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 426,891 shares of Dutch Bros stock in a transaction on Monday, August 19th. The shares were sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the transaction, the chairman now directly owns 467,228 shares of the company’s stock, valued at $14,759,732.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Travis Boersma sold 426,891 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the transaction, the chairman now owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 115,854 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $33.38, for a total value of $3,867,206.52. Following the sale, the insider now owns 9,817 shares in the company, valued at $327,691.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,689,583 shares of company stock valued at $55,164,707 over the last 90 days. 46.50% of the stock is owned by corporate insiders.

Dutch Bros Trading Up 0.7 %

Shares of BROS stock opened at $48.78 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 168.21, a price-to-earnings-growth ratio of 5.20 and a beta of 2.47. Dutch Bros Inc. has a 12-month low of $25.46 and a 12-month high of $50.24. The stock’s 50-day moving average price is $34.56 and its 200-day moving average price is $35.49.

Dutch Bros (NYSE:BROS) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $338.20 million for the quarter, compared to the consensus estimate of $324.97 million. Dutch Bros had a return on equity of 5.58% and a net margin of 2.54%. The company’s revenue was up 27.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. Equities research analysts predict that Dutch Bros Inc. will post 0.33 EPS for the current fiscal year.

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.