State of New Jersey Common Pension Fund D Takes Position in Dutch Bros Inc. (NYSE:BROS)

State of New Jersey Common Pension Fund D bought a new position in shares of Dutch Bros Inc. (NYSE:BROS) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 51,011 shares of the company’s stock, valued at approximately $2,112,000.

Other hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Dutch Bros in the 1st quarter valued at about $26,000. Arcadia Investment Management Corp MI acquired a new stake in Dutch Bros in the second quarter valued at approximately $27,000. Quest Partners LLC lifted its stake in Dutch Bros by 3,321.7% in the second quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after acquiring an additional 764 shares during the last quarter. Denver PWM LLC acquired a new position in Dutch Bros during the 2nd quarter worth approximately $77,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Dutch Bros in the 2nd quarter valued at approximately $113,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BROS. JPMorgan Chase & Co. boosted their target price on shares of Dutch Bros from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Robert W. Baird lowered their price objective on Dutch Bros from $42.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Bank of America raised their target price on Dutch Bros from $44.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Dutch Bros in a research note on Thursday, August 8th. Finally, Piper Sandler lowered shares of Dutch Bros from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $36.00 in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Dutch Bros presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.73.

Dutch Bros Stock Performance

Shares of BROS opened at $34.90 on Friday. The company’s 50 day simple moving average is $34.34 and its 200-day simple moving average is $34.67. The firm has a market cap of $6.18 billion, a PE ratio of 193.89, a price-to-earnings-growth ratio of 2.70 and a beta of 2.49. Dutch Bros Inc. has a 12-month low of $22.67 and a 12-month high of $43.49. The company has a current ratio of 2.19, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82.

Dutch Bros (NYSE:BROS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The company had revenue of $324.92 million for the quarter, compared to the consensus estimate of $317.39 million. During the same period last year, the firm posted $0.07 EPS. Dutch Bros’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities analysts predict that Dutch Bros Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling at Dutch Bros

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 value of $13,485,486.69. Following the transaction, the chairman now owns 467,228 shares of the company’s stock, valued at $14,759,732.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Travis Boersma sold 426,891 shares of Dutch Bros stock in a transaction dated 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 sale, the chairman now owns 467,228 shares of the company’s stock, valued at $14,759,732.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $31.60, for a total transaction of $5,287,154.00. Following the transaction, the insider now directly owns 467,228 shares of the company’s stock, valued at $14,764,404.80. The disclosure for this sale can be found here. Insiders sold a total of 1,128,885 shares of company stock valued at $36,124,009 in the last ninety days. Insiders own 46.50% of the company’s stock.

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.