Comerica Bank Cuts Stock Position in Dutch Bros Inc. $BROS

Comerica Bank reduced its position in Dutch Bros Inc. (NYSE:BROS) by 9.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,449 shares of the company’s stock after selling 2,912 shares during the quarter. Comerica Bank’s holdings in Dutch Bros were worth $1,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its holdings in shares of Dutch Bros by 14.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company’s stock worth $268,095,000 after purchasing an additional 627,875 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Dutch Bros by 29.9% in the 1st quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company’s stock worth $211,163,000 after purchasing an additional 788,100 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Dutch Bros by 16.4% in the 1st quarter. Invesco Ltd. now owns 1,365,281 shares of the company’s stock worth $84,292,000 after purchasing an additional 192,458 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Dutch Bros by 25.9% in the 1st 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 during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Dutch Bros by 7.5% in the 4th quarter. Millennium Management LLC now owns 1,295,545 shares of the company’s stock valued at $67,861,000 after acquiring an additional 90,166 shares during the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Trading Down 1.7%

BROS opened at $71.72 on Thursday. The business has a 50 day simple moving average of $65.11 and a two-hundred day simple moving average of $65.95. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 152.60, a PEG ratio of 4.03 and a beta of 2.64. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.42. Dutch Bros Inc. has a one year low of $30.45 and a one year high of $86.88.

Dutch Bros (NYSE:BROS) last announced its earnings results 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. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%.The firm had revenue of $415.81 million during the quarter, compared to analyst estimates of $403.24 million. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was up 28.0% compared to the same quarter last year. Analysts predict that Dutch Bros Inc. will post 0.57 EPS for the current year.

Insider Activity at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the sale, the insider directly owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. This trade represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $54,302,728.14. Following the completion of the sale, the chairman directly owned 975,031 shares of the company’s stock, valued at approximately $67,218,637.14. The trade was a 44.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,161,101 shares of company stock worth $207,633,882 in the last 90 days. 42.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Guggenheim boosted their target price on Dutch Bros from $72.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Melius Research raised Dutch Bros to a “strong-buy” rating in a research note on Monday, July 14th. The Goldman Sachs Group assumed coverage on Dutch Bros in a research note on Thursday, June 26th. They issued a “neutral” rating and a $75.00 target price for the company. Morgan Stanley reissued an “overweight” rating and issued a $84.00 target price (up previously from $80.00) on shares of Dutch Bros in a research note on Thursday, August 7th. Finally, UBS Group boosted their target price on Dutch Bros from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Dutch Bros presently has a consensus rating of “Buy” and an average price target of $80.06.

Dutch Bros Profile

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.