Truist Financial Corp decreased its stake in Dutch Bros Inc. (NYSE:BROS – Free Report) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,890 shares of the company’s stock after selling 2,388 shares during the period. Truist Financial Corp’s holdings in Dutch Bros were worth $1,018,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in Dutch Bros during the 1st quarter valued at $31,000. Banque Transatlantique SA bought a new position in Dutch Bros in the first quarter valued at approximately $38,000. GAMMA Investing LLC grew its position in Dutch Bros by 85.3% in the first quarter. GAMMA Investing LLC now owns 821 shares of the company’s stock valued at $51,000 after acquiring an additional 378 shares during the last quarter. Stone House Investment Management LLC bought a new position in Dutch Bros in the first quarter valued at about $54,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Dutch Bros by 100.0% during the second quarter. AdvisorNet Financial Inc now owns 1,000 shares of the company’s stock worth $68,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.
Insider Buying and Selling
In related news, Chairman Travis Boersma sold 1,250,371 shares of Dutch Bros 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 transaction, the chairman directly owned 1,279,144 shares of the company’s stock, valued at $83,361,814.48. This trade represents a 49.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of Dutch Bros stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the transaction, the insider directly owned 1,279,144 shares of the company’s stock, valued at approximately $83,361,814.48. This trade represents a 27.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,161,101 shares of company stock valued at $207,633,882. 42.40% of the stock is owned by corporate insiders.
Dutch Bros Stock Performance
Dutch Bros (NYSE:BROS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.08. The firm had revenue of $415.81 million during the quarter, compared to the consensus estimate of $403.24 million. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%.The business’s revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, sell-side analysts predict that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Dutch Bros in a report on Wednesday, October 8th. UBS Group upped their target price on Dutch Bros from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. Morgan Stanley reissued an “overweight” rating and issued a $84.00 price target (up from $80.00) on shares of Dutch Bros in a research report on Thursday, August 7th. Barclays raised their target price on Dutch Bros from $84.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, Guggenheim lifted their price objective on Dutch Bros from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.88.
Read Our Latest Stock Analysis on Dutch Bros
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.
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