Cerity Partners LLC Makes New Investment in Dutch Bros Inc. (NYSE:BROS)

Cerity Partners LLC purchased a new position in shares of Dutch Bros Inc. (NYSE:BROS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,337 shares of the company’s stock, valued at approximately $1,688,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Dutch Bros in the fourth quarter worth about $267,000. Cherry Creek Investment Advisors Inc. boosted its holdings in Dutch Bros by 63.9% in the first quarter. Cherry Creek Investment Advisors Inc. now owns 21,253 shares of the company’s stock valued at $1,312,000 after purchasing an additional 8,282 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Dutch Bros by 14.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company’s stock valued at $268,095,000 after purchasing an additional 627,875 shares during the last quarter. Granite Investment Partners LLC boosted its holdings in Dutch Bros by 141.2% in the fourth quarter. Granite Investment Partners LLC now owns 695,430 shares of the company’s stock valued at $36,427,000 after purchasing an additional 407,168 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in Dutch Bros by 558.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 107,139 shares of the company’s stock valued at $5,612,000 after purchasing an additional 90,867 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. TD Securities reissued a “buy” rating and issued a $78.00 price target on shares of Dutch Bros in a report on Thursday, May 8th. Wedbush reiterated an “outperform” rating and issued a $90.00 price target on shares of Dutch Bros in a report on Monday, March 31st. Stifel Nicolaus reduced their price objective on Dutch Bros from $85.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Royal Bank Of Canada began coverage on Dutch Bros in a research note on Wednesday, May 14th. They set an “outperform” rating and a $83.00 price objective on the stock. Finally, CICC Research began coverage on Dutch Bros in a report on Monday, June 30th. They issued an “outperform” rating and a $80.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $76.06.

Dutch Bros Stock Performance

Shares of Dutch Bros stock opened at $64.42 on Monday. The company has a market cap of $10.60 billion, a PE ratio of 165.18, a price-to-earnings-growth ratio of 3.86 and a beta of 2.65. Dutch Bros Inc. has a 52 week low of $26.96 and a 52 week high of $86.88. The business has a 50 day moving average price of $68.71 and a 200-day moving average price of $65.42. 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 (NYSE:BROS) last released its earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $355.15 million during the quarter, compared to the consensus estimate of $343.30 million. Dutch Bros had a return on equity of 7.73% and a net margin of 3.20%. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. Equities analysts anticipate that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Transactions at Dutch Bros

In other news, Chairman Travis Boersma sold 722,841 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total value of $48,300,235.62. Following the completion of the sale, the chairman owned 1,940,245 shares of the company’s stock, valued at approximately $129,647,170.90. The trade was a 27.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total value of $10,641,352.28. Following the transaction, the insider owned 1,940,245 shares in the company, valued at $129,647,170.90. This trade represents a 7.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,465,214 shares of company stock valued at $237,721,138. 42.40% of the stock is currently owned by corporate insiders.

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.