Bank of New York Mellon Corp Acquires 384,011 Shares of Dutch Bros Inc. $BROS

Bank of New York Mellon Corp grew its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 58.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,044,545 shares of the company’s stock after purchasing an additional 384,011 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of Dutch Bros worth $52,917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new position in Dutch Bros during the fourth quarter valued at $113,880,000. Westfield Capital Management Co. LP bought a new position in shares of Dutch Bros during the fourth quarter valued at $108,948,000. Norges Bank purchased a new position in shares of Dutch Bros in the 4th quarter worth about $96,951,000. Balyasny Asset Management L.P. boosted its stake in Dutch Bros by 196.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,817,201 shares of the company’s stock worth $95,112,000 after purchasing an additional 1,203,338 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in Dutch Bros during the 4th quarter valued at about $57,276,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of Dutch Bros stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $16,451,686.10. Following the completion of the sale, the insider owned 2,410,800 shares of the company’s stock, valued at $151,928,616. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $47,265,000.00. Following the completion of the transaction, the chairman directly owned 2,410,800 shares in the company, valued at approximately $151,928,616. This represents a 23.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,086,245 shares of company stock valued at $243,021,771 over the last 90 days. Company insiders own 38.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Dutch Bros from $61.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. BNP Paribas Exane started coverage on shares of Dutch Bros in a report on Monday, March 30th. They issued an “outperform” rating and a $73.00 price objective for the company. Oppenheimer upped their price objective on Dutch Bros from $72.00 to $82.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. TD Cowen reiterated a “buy” rating and set a $73.00 target price on shares of Dutch Bros in a research note on Wednesday, June 10th. Finally, Telsey Advisory Group initiated coverage on Dutch Bros in a report on Wednesday, April 8th. They issued an “outperform” rating and a $66.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

Dutch Bros Stock Down 1.4%

BROS opened at $64.03 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average price of $62.95 and a 200-day moving average price of $57.38. Dutch Bros Inc. has a twelve month low of $44.58 and a twelve month high of $74.65. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 100.04, a PEG ratio of 1.97 and a beta of 2.31.

Dutch Bros (NYSE:BROS) last issued its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $464.41 million for the quarter, compared to analysts’ expectations of $449.69 million. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. Equities research analysts forecast that Dutch Bros Inc. will post 0.84 earnings per share for the current year.

About Dutch Bros

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.