Voya Investment Management LLC Lowers Stock Position in Dutch Bros Inc. $BROS

Voya Investment Management LLC cut its position in shares of Dutch Bros Inc. (NYSE:BROS) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,757 shares of the company’s stock after selling 427 shares during the period. Voya Investment Management LLC’s holdings in Dutch Bros were worth $1,652,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BROS. BNP Paribas Financial Markets boosted its holdings in Dutch Bros by 1,572.2% during the first quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company’s stock worth $70,661,000 after buying an additional 1,076,045 shares in the last quarter. 1832 Asset Management L.P. raised its position in Dutch Bros by 29.9% during the first quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company’s stock worth $211,163,000 after acquiring an additional 788,100 shares during the period. AQR Capital Management LLC raised its position in Dutch Bros by 421.1% during the first quarter. AQR Capital Management LLC now owns 810,273 shares of the company’s stock worth $48,843,000 after acquiring an additional 654,794 shares during the period. Lord Abbett & CO. LLC raised its position in Dutch Bros by 120.6% during the first quarter. Lord Abbett & CO. LLC now owns 1,082,414 shares of the company’s stock worth $66,828,000 after acquiring an additional 591,657 shares during the period. Finally, Bank of Nova Scotia raised its position in Dutch Bros by 751.0% during the first quarter. Bank of Nova Scotia now owns 625,036 shares of the company’s stock worth $38,589,000 after acquiring an additional 551,587 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Travis Boersma sold 1,250,371 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the completion of the sale, the chairman directly owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. This trade represents a 49.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the sale, the insider owned 1,279,144 shares of the company’s stock, valued at approximately $83,361,814.48. The trade was a 27.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,161,101 shares of company stock worth $207,633,882. Insiders own 42.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BROS. Melius Research upgraded shares of Dutch Bros to a “strong-buy” rating in a research report on Monday, July 14th. Guggenheim upped their price objective on shares of Dutch Bros from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Bank of America upped their price objective on shares of Dutch Bros from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Morgan Stanley restated an “overweight” rating and set a $84.00 price objective (up from $80.00) on shares of Dutch Bros in a research report on Thursday, August 7th. Finally, TD Cowen restated a “buy” rating and set a $86.00 price objective on shares of Dutch Bros in a research report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $80.06.

Dutch Bros Stock Performance

NYSE:BROS opened at $55.14 on Tuesday. The company’s 50-day moving average price is $64.17 and its 200-day moving average price is $64.62. The company has a current ratio of 1.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69. The company has a market cap of $9.07 billion, a P/E ratio of 117.33, a P/E/G ratio of 3.24 and a beta of 2.64. Dutch Bros Inc. has a twelve month low of $30.49 and a twelve month high of $86.88.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. The firm had revenue of $415.81 million for the quarter, compared to the consensus estimate of $403.24 million. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. On average, sell-side analysts forecast that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal 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.