PNC Financial Services Group Inc. Boosts Position in Dutch Bros Inc. (NYSE:BROS)

PNC Financial Services Group Inc. increased its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 25.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,744 shares of the company’s stock after purchasing an additional 1,367 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dutch Bros were worth $416,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BROS. Envestnet Asset Management Inc. lifted its stake in Dutch Bros by 6.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 126,116 shares of the company’s stock worth $6,606,000 after purchasing an additional 7,203 shares during the last quarter. Legal & General Group Plc lifted its stake in Dutch Bros by 13.5% in the fourth quarter. Legal & General Group Plc now owns 114,448 shares of the company’s stock valued at $5,995,000 after buying an additional 13,630 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Dutch Bros by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 48,050 shares of the company’s stock valued at $2,517,000 after buying an additional 310 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Dutch Bros by 46.3% in the fourth quarter. Sterling Capital Management LLC now owns 4,661 shares of the company’s stock valued at $244,000 after buying an additional 1,476 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new stake in Dutch Bros in the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on Dutch Bros from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. CICC Research assumed coverage on Dutch Bros in a research note on Monday, June 30th. They issued an “outperform” rating and a $80.00 price objective for the company. UBS Group reduced their price objective on Dutch Bros from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, May 5th. The Goldman Sachs Group assumed coverage on Dutch Bros in a research note on Thursday, June 26th. They issued a “neutral” rating and a $75.00 price objective for the company. Finally, Piper Sandler reduced their price objective on Dutch Bros from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Two equities research 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 company’s stock. According to MarketBeat, Dutch Bros currently has a consensus rating of “Buy” and an average price target of $77.82.

Dutch Bros Price Performance

Dutch Bros stock opened at $63.29 on Friday. Dutch Bros Inc. has a 12 month low of $30.30 and a 12 month high of $86.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.42. The business has a 50 day simple moving average of $65.54 and a 200-day simple moving average of $65.77. The stock has a market capitalization of $10.41 billion, a PE ratio of 134.66, a price-to-earnings-growth ratio of 4.13 and a beta of 2.63.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%. The firm had revenue of $415.81 million for the quarter, compared to analyst estimates of $403.24 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Dutch Bros’s quarterly revenue was up 28.0% on a year-over-year basis. Equities analysts predict that Dutch Bros Inc. will post 0.57 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.