Victory Capital Management Inc. Buys 3,605 Shares of Dutch Bros Inc. (NYSE:BROS)

Victory Capital Management Inc. boosted its position in Dutch Bros Inc. (NYSE:BROS) by 18.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,523 shares of the company’s stock after purchasing an additional 3,605 shares during the quarter. Victory Capital Management Inc.’s holdings in Dutch Bros were worth $753,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Aigen Investment Management LP raised its stake in shares of Dutch Bros by 4.7% during the 3rd quarter. Aigen Investment Management LP now owns 52,053 shares of the company’s stock worth $1,667,000 after acquiring an additional 2,347 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of Dutch Bros during the third quarter worth $224,461,000. Chartwell Investment Partners LLC increased its position in shares of Dutch Bros by 56.0% during the third quarter. Chartwell Investment Partners LLC now owns 14,742 shares of the company’s stock worth $472,000 after purchasing an additional 5,293 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Dutch Bros by 23.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 62,891 shares of the company’s stock valued at $2,014,000 after purchasing an additional 11,880 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Dutch Bros by 355.6% in the 3rd quarter. Covestor Ltd now owns 3,663 shares of the company’s stock worth $117,000 after purchasing an additional 2,859 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Stock Up 0.3 %

NYSE:BROS opened at $53.15 on Friday. The firm has a market capitalization of $8.20 billion, a P/E ratio of 183.28, a PEG ratio of 4.16 and a beta of 2.47. The company’s fifty day moving average price is $38.33 and its 200-day moving average price is $37.04. Dutch Bros Inc. has a 1-year low of $25.46 and a 1-year high of $53.29. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.90 and a quick ratio of 1.68.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. Dutch Bros had a return on equity of 5.48% and a net margin of 2.54%. The company had revenue of $338.20 million for the quarter, compared to the consensus estimate of $324.97 million. During the same period last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Dutch Bros Inc. will post 0.39 EPS for the current year.

Insider Activity at Dutch Bros

In other news, major shareholder Dm Trust Aggregator, Llc sold 186,418 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $32.39, for a total transaction of $6,038,079.02. Following the sale, the insider now directly owns 512,300 shares of the company’s stock, valued at $16,593,397. This represents a 26.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Travis Boersma sold 3,600 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.00, for a total value of $115,200.00. Following the completion of the transaction, the chairman now directly owns 430,718 shares of the company’s stock, valued at $13,782,976. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,065,467 shares of company stock worth $35,434,372. 46.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BROS. UBS Group upped their target price on Dutch Bros from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Dutch Bros from $42.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their target price on shares of Dutch Bros from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wedbush upped their price target on shares of Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price objective on shares of Dutch Bros from $37.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.30.

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.