Fifth Third Bancorp Reduces Stock Holdings in Dutch Bros Inc. (NYSE:BROS)

Fifth Third Bancorp reduced its stake in Dutch Bros Inc. (NYSE:BROS) by 49.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,464 shares of the company’s stock after selling 5,261 shares during the period. Fifth Third Bancorp’s holdings in Dutch Bros were worth $337,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BROS. Raymond James Financial Inc. acquired a new stake in shares of Dutch Bros in the fourth quarter valued at approximately $94,478,000. Scratch Capital LLC acquired a new stake in shares of Dutch Bros in the fourth quarter valued at approximately $1,260,000. Versor Investments LP boosted its holdings in shares of Dutch Bros by 128.7% in the fourth quarter. Versor Investments LP now owns 18,400 shares of the company’s stock valued at $964,000 after acquiring an additional 10,355 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Dutch Bros by 317.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company’s stock valued at $53,878,000 after acquiring an additional 782,164 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Dutch Bros in the fourth quarter valued at approximately $267,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Stock Performance

NYSE:BROS opened at $69.80 on Thursday. The firm has a market capitalization of $11.48 billion, a PE ratio of 178.97, a price-to-earnings-growth ratio of 4.02 and a beta of 2.73. The firm has a 50-day moving average price of $65.79 and a 200 day moving average price of $63.29. The company has a quick ratio of 1.75, a current ratio of 1.95 and a debt-to-equity ratio of 0.80. Dutch Bros Inc. has a 12-month low of $26.96 and a 12-month high of $86.88.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $355.15 million during the quarter, compared to analyst estimates of $343.30 million. Dutch Bros had a net margin of 3.20% and a return on equity of 7.73%. The company’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. Research analysts anticipate that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BROS has been the subject of several recent research reports. Royal Bank Of Canada initiated coverage on Dutch Bros in a report on Wednesday, May 14th. They set an “outperform” rating and a $83.00 price target for the company. Piper Sandler decreased their price target on Dutch Bros from $70.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Robert W. Baird increased their price target on Dutch Bros from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Stifel Nicolaus decreased their price target on Dutch Bros from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Dutch Bros in a research report on Monday, March 31st. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $75.73.

Insider Transactions at Dutch Bros

In related news, major shareholder Dm Individual Aggregator, Llc sold 119,112 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $65.95, for a total value of $7,855,436.40. Following the completion of the sale, the insider now owns 2,099,499 shares of the company’s stock, valued at $138,461,959.05. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Travis Boersma sold 722,841 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $66.82, for a total transaction of $48,300,235.62. Following the completion of the sale, the chairman now directly owns 1,940,245 shares of the company’s stock, valued at approximately $129,647,170.90. This represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,465,214 shares of company stock valued at $237,721,138. Corporate insiders own 42.40% of the company’s stock.

Dutch Bros Company 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.