Oppenheimer & Co. Inc. Increases Stock Position in Dutch Bros Inc. (NYSE:BROS)

Oppenheimer & Co. Inc. raised its holdings in Dutch Bros Inc. (NYSE:BROS) by 8.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,306 shares of the company’s stock after purchasing an additional 2,310 shares during the period. Oppenheimer & Co. Inc.’s holdings in Dutch Bros were worth $1,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Gould Capital LLC lifted its holdings in shares of Dutch Bros by 20.4% in the fourth quarter. Gould Capital LLC now owns 826 shares of the company’s stock valued at $43,000 after purchasing an additional 140 shares in the last quarter. Copia Wealth Management lifted its holdings in shares of Dutch Bros by 14.7% in the first quarter. Copia Wealth Management now owns 1,595 shares of the company’s stock valued at $98,000 after purchasing an additional 205 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Dutch Bros by 3.6% in the fourth quarter. Amalgamated Bank now owns 6,268 shares of the company’s stock valued at $328,000 after purchasing an additional 220 shares in the last quarter. Arizona State Retirement System raised its position in shares of Dutch Bros by 0.8% in the fourth quarter. Arizona State Retirement System now owns 33,033 shares of the company’s stock valued at $1,730,000 after buying an additional 260 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of 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. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Dutch Bros from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Barclays boosted their price objective on shares of Dutch Bros from $76.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Piper Sandler dropped their price target on shares of Dutch Bros from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Morgan Stanley set a $80.00 price target on shares of Dutch Bros and gave the stock an “overweight” rating in a research report on Monday, April 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Dutch Bros in a research report on Monday, March 31st. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.69.

Dutch Bros Price Performance

BROS opened at $69.33 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.95 and a debt-to-equity ratio of 0.80. Dutch Bros Inc. has a 52-week low of $26.96 and a 52-week high of $86.88. The company has a 50 day moving average of $67.35 and a two-hundred day moving average of $64.02. The company has a market cap of $11.40 billion, a P/E ratio of 177.78, a P/E/G ratio of 3.93 and a beta of 2.73.

Dutch Bros (NYSE:BROS) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $355.15 million during the quarter, compared to the consensus estimate of $343.30 million. Dutch Bros had a net margin of 3.20% and a return on equity of 7.73%. Dutch Bros’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, analysts expect that Dutch Bros Inc. will post 0.57 earnings per share for the current year.

Insider Activity

In other news, Chairman Travis Boersma sold 540,638 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $65.95, for a total value of $35,655,076.10. Following the completion of the transaction, the chairman now directly owns 2,099,499 shares in the company, valued at approximately $138,461,959.05. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 119,112 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $65.95, for a total transaction of $7,855,436.40. Following the completion of the transaction, the insider now owns 2,099,499 shares of the company’s stock, valued at $138,461,959.05. This trade represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,465,214 shares of company stock worth $237,721,138. 42.40% of the stock is currently owned by company insiders.

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.