VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Dutch Bros Inc. $BROS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Dutch Bros Inc. (NYSE:BROS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,900 shares of the company’s stock, valued at approximately $403,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 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 valued at $211,163,000 after acquiring an additional 788,100 shares in the last quarter. Invesco Ltd. raised its position in Dutch Bros by 16.4% during the first quarter. Invesco Ltd. now owns 1,365,281 shares of the company’s stock valued at $84,292,000 after acquiring an additional 192,458 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Dutch Bros by 25.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,324,676 shares of the company’s stock valued at $81,786,000 after acquiring an additional 272,473 shares in the last quarter. Driehaus Capital Management LLC raised its position in Dutch Bros by 3.0% during the first quarter. Driehaus Capital Management LLC now owns 1,320,807 shares of the company’s stock valued at $81,547,000 after acquiring an additional 38,989 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position 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 valued at $70,661,000 after acquiring an additional 1,076,045 shares in the last quarter. Institutional investors own 85.54% of the company’s stock.

Insiders Place Their Bets

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of Dutch Bros stock in a transaction on 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 sale, the insider owned 1,279,144 shares in the company, valued at $83,361,814.48. The trade was a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Travis Boersma sold 787,681 shares of Dutch Bros stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.94, for a total transaction of $54,302,728.14. Following the sale, the chairman owned 975,031 shares in the company, valued at $67,218,637.14. This represents a 44.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,161,101 shares of company stock worth $207,633,882 in the last quarter. Corporate insiders own 42.40% of the company’s stock.

Dutch Bros Trading Down 0.3%

Shares of Dutch Bros stock opened at $56.98 on Friday. The company’s fifty day simple moving average is $59.73 and its 200-day simple moving average is $63.20. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 121.24, a PEG ratio of 3.13 and a beta of 2.55. The company has a current ratio of 1.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69. Dutch Bros Inc. has a 1 year low of $32.68 and a 1 year high of $86.88.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. The business 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%. Dutch Bros’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. As a group, sell-side analysts expect that Dutch Bros Inc. will post 0.57 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BROS. Morgan Stanley boosted their price objective on shares of Dutch Bros from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Tuesday. CICC Research began coverage on shares of Dutch Bros in a report on Monday, June 30th. They set an “outperform” rating and a $80.00 price objective for the company. Zacks Research raised shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dutch Bros in a report on Friday. Finally, Wells Fargo & Company decreased their price objective on shares of Dutch Bros from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $77.82.

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.