Quarry LP Buys New Stake in Dutch Bros Inc. (NYSE:BROS)

Quarry LP purchased a new position in shares of Dutch Bros Inc. (NYSE:BROS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,036 shares of the company’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors have also modified their holdings of BROS. Vanguard Group Inc. increased its stake in Dutch Bros by 35.0% during the 1st 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 period. Marshall Wace LLP raised its stake in shares of Dutch Bros by 15.4% in the second quarter. Marshall Wace LLP now owns 3,962,374 shares of the company’s stock valued at $164,042,000 after acquiring an additional 527,716 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in Dutch Bros by 11.0% in the second quarter. Driehaus Capital Management LLC now owns 2,245,241 shares of the company’s stock valued at $92,953,000 after purchasing an additional 222,650 shares during the period. Davidson Kempner Capital Management LP grew its stake in Dutch Bros by 43.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 1,585,159 shares of the company’s stock worth $65,626,000 after purchasing an additional 480,153 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Dutch Bros during the 2nd quarter worth about $57,435,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BROS has been the subject of a number of analyst reports. 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. Stifel Nicolaus dropped their price objective on shares of Dutch Bros from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Dutch Bros in a research report on Thursday, August 8th. Barclays dropped their target price on Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, Guggenheim raised Dutch Bros from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.20.

Insider Buying and Selling at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $31.60, for a total transaction of $5,287,154.00. Following the completion of the sale, the insider now owns 467,228 shares in the company, valued at approximately $14,764,404.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 467,228 shares in the company, valued at $14,764,404.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Travis Boersma sold 18,223 shares of Dutch Bros stock in a transaction on Monday, September 16th. The shares were sold at an average price of $34.13, for a total transaction of $621,950.99. Following the completion of the transaction, the chairman now owns 263,954 shares in the company, valued at approximately $9,008,750.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,128,885 shares of company stock worth $36,124,009. 46.50% of the stock is owned by company insiders.

Dutch Bros Trading Up 2.9 %

NYSE:BROS opened at $32.53 on Friday. The company has a market capitalization of $5.76 billion, a PE ratio of 180.72, a P/E/G ratio of 2.84 and a beta of 2.49. Dutch Bros Inc. has a 52-week low of $23.01 and a 52-week high of $43.49. The stock’s 50 day moving average price is $33.00 and its 200 day moving average price is $34.71. The company has a quick ratio of 1.88, a current ratio of 2.19 and a debt-to-equity ratio of 0.82.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The business had revenue of $324.92 million for the quarter, compared to analyst estimates of $317.39 million. During the same period last year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, research analysts anticipate that Dutch Bros Inc. will post 0.32 EPS for the current 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.