Allspring Global Investments Holdings LLC Cuts Stake in Dutch Bros Inc. $BROS

Allspring Global Investments Holdings LLC lowered its stake in shares of Dutch Bros Inc. (NYSE:BROS) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 771,693 shares of the company’s stock after selling 60,713 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Dutch Bros were worth $39,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Osterweis Capital Management Inc. bought a new position in shares of Dutch Bros during the second quarter worth $27,000. Brown Lisle Cummings Inc. purchased a new stake in Dutch Bros in the 4th quarter worth $31,000. Rakuten Securities Inc. lifted its stake in Dutch Bros by 557.4% in the 2nd quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock worth $31,000 after purchasing an additional 379 shares in the last quarter. Ankerstar Wealth LLC bought a new position in shares of Dutch Bros during the 4th quarter valued at about $31,000. Finally, Quarry LP boosted its holdings in shares of Dutch Bros by 83.5% during the 4th quarter. Quarry LP now owns 600 shares of the company’s stock valued at $37,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insider Activity at Dutch Bros

In related news, CEO Christine Barone sold 42,031 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $60.13, for a total transaction of $2,527,324.03. Following the sale, the chief executive officer owned 44,573 shares in the company, valued at approximately $2,680,174.49. This represents a 48.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 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 transaction of $47,265,000.00. Following the transaction, the chairman directly owned 2,410,800 shares of the company’s stock, valued at $151,928,616. The trade was a 23.73% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 4,086,245 shares of company stock worth $243,021,771. Company insiders own 38.90% of the company’s stock.

Dutch Bros Trading Down 0.1%

Shares of NYSE BROS opened at $68.28 on Monday. The business’s 50 day moving average is $61.73 and its two-hundred day moving average is $57.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 1.19. Dutch Bros Inc. has a 1-year low of $44.58 and a 1-year high of $74.65. The stock has a market capitalization of $11.92 billion, a P/E ratio of 106.69, a PEG ratio of 2.21 and a beta of 2.31.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $464.41 million during the quarter, compared to analyst estimates of $449.69 million. Dutch Bros had a return on equity of 9.42% and a net margin of 4.61%.The company’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same period last year, the company earned $0.14 EPS. As a group, research analysts expect that Dutch Bros Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BROS. Morgan Stanley lifted their target price on Dutch Bros from $87.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup raised their price target on Dutch Bros from $84.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dutch Bros in a research note on Monday, April 20th. DA Davidson upped their price objective on Dutch Bros from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, TD Cowen reiterated a “buy” rating and set a $73.00 target price on shares of Dutch Bros in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Dutch Bros Profile

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.