Bank of New York Mellon Corp Sells 458,745 Shares of Dutch Bros Inc. (NYSE:BROS)

Bank of New York Mellon Corp lowered its position in shares of Dutch Bros Inc. (NYSE:BROS) by 41.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 641,973 shares of the company’s stock after selling 458,745 shares during the quarter. Bank of New York Mellon Corp owned about 0.42% of Dutch Bros worth $39,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Calamos Advisors LLC bought a new stake in Dutch Bros in the first quarter valued at approximately $362,000. Teacher Retirement System of Texas acquired a new stake in Dutch Bros in the 1st quarter valued at $1,144,000. KBC Group NV grew its position in Dutch Bros by 15.7% in the 1st quarter. KBC Group NV now owns 5,137 shares of the company’s stock valued at $317,000 after purchasing an additional 697 shares during the period. Lisanti Capital Growth LLC acquired a new stake in Dutch Bros in the 1st quarter valued at $758,000. Finally, CWC Advisors LLC. lifted its stake in Dutch Bros by 78.5% during the 1st quarter. CWC Advisors LLC. now owns 10,478 shares of the company’s stock valued at $647,000 after acquiring an additional 4,608 shares in the last quarter. Institutional investors own 85.54% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Travis Boersma sold 722,841 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total transaction of $48,300,235.62. Following the sale, the chairman directly owned 1,940,245 shares of the company’s stock, valued at $129,647,170.90. This trade represents a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $72.02, for a total value of $38,280,502.52. Following the sale, the insider directly owned 2,373,933 shares in the company, valued at $170,970,654.66. This trade represents a 18.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,465,214 shares of company stock valued at $237,721,138. 42.40% of the stock is owned by corporate insiders.

Dutch Bros Stock Up 0.1%

Shares of BROS opened at $63.42 on Tuesday. The firm has a market cap of $10.43 billion, a P/E ratio of 162.61, a P/E/G ratio of 3.79 and a beta of 2.65. The stock has a 50 day simple moving average of $68.49 and a two-hundred day simple moving average of $65.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.95 and a quick ratio of 1.75. Dutch Bros Inc. has a 1 year low of $26.96 and a 1 year high of $86.88.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BROS shares. TD Securities restated a “buy” rating and set a $78.00 price objective on shares of Dutch Bros in a research note on Thursday, May 8th. Piper Sandler lowered their target price on Dutch Bros from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Morgan Stanley set a $80.00 target price on Dutch Bros and gave the stock an “overweight” rating in a research note on Monday, April 14th. UBS Group lowered their target price on Dutch Bros from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 target price on shares of Dutch Bros in a research note on Monday, March 31st. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.94.

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.