State Street Corp Grows Stake in Dutch Bros Inc. (NYSE:BROS)

State Street Corp increased its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 34.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,734,646 shares of the company’s stock after purchasing an additional 447,456 shares during the quarter. State Street Corp owned approximately 1.13% of Dutch Bros worth $55,561,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP lifted its position in shares of Dutch Bros by 68.0% during the 3rd quarter. Quarry LP now owns 1,740 shares of the company’s stock worth $56,000 after buying an additional 704 shares during the last quarter. Petrus Trust Company LTA acquired a new stake in Dutch Bros during the 3rd quarter worth $637,000. Polar Asset Management Partners Inc. purchased a new stake in Dutch Bros in the third quarter valued at $1,371,000. Holocene Advisors LP purchased a new stake in Dutch Bros in the third quarter valued at $6,803,000. Finally, Paloma Partners Management Co acquired a new position in Dutch Bros in the third quarter valued at $7,386,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 80,720 shares of Dutch Bros stock in a transaction on Monday, October 28th. The stock was sold at an average price of $36.03, for a total transaction of $2,908,341.60. Following the completion of the transaction, the chairman now owns 125,671 shares of the company’s stock, valued at $4,527,926.13. The trade was a 39.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $36.03, for a total transaction of $1,452,837.69. Following the completion of the sale, the insider now directly owns 125,671 shares in the company, valued at approximately $4,527,926.13. The trade was a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 560,698 shares of company stock worth $19,040,697. 46.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BROS shares. TD Cowen boosted their target price on Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wedbush lifted their price target on Dutch Bros from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays increased their price objective on Dutch Bros from $31.00 to $38.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Piper Sandler lifted their target price on shares of Dutch Bros from $36.00 to $51.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price target 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Dutch Bros has a consensus rating of “Moderate Buy” and a consensus target price of $50.36.

Dutch Bros Trading Down 3.2 %

Shares of Dutch Bros stock opened at $51.27 on Thursday. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 176.80, a price-to-earnings-growth ratio of 3.89 and a beta of 2.72. Dutch Bros Inc. has a 52-week low of $25.46 and a 52-week high of $56.10. The company’s 50-day simple moving average is $44.11 and its 200-day simple moving average is $38.79. The company has a quick ratio of 1.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.79.

Dutch Bros (NYSE:BROS) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $324.97 million. Dutch Bros had a return on equity of 5.48% and a net margin of 2.54%. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS. As a group, equities research analysts anticipate that Dutch Bros Inc. will post 0.39 earnings per share for the current year.

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.