Dutch Bros Inc. (NYSE:BROS) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in Dutch Bros Inc. (NYSE:BROS) by 28.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,773,271 shares of the company’s stock after buying an additional 397,754 shares during the quarter. Geode Capital Management LLC’s holdings in Dutch Bros were worth $56,814,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BROS. Raymond James & Associates boosted its holdings in Dutch Bros by 14.6% in the second quarter. Raymond James & Associates now owns 54,232 shares of the company’s stock worth $2,245,000 after purchasing an additional 6,894 shares in the last quarter. Clear Creek Financial Management LLC acquired a new position in shares of Dutch Bros during the 2nd quarter valued at about $232,000. Calamos Advisors LLC bought a new position in shares of Dutch Bros in the 2nd quarter valued at approximately $837,000. Bank of New York Mellon Corp lifted its holdings in Dutch Bros by 8,247.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,081,306 shares of the company’s stock worth $44,766,000 after purchasing an additional 1,068,352 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Dutch Bros by 239.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 837,216 shares of the company’s stock worth $34,661,000 after purchasing an additional 590,719 shares during the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.

Dutch Bros Price Performance

Shares of NYSE:BROS opened at $54.06 on Monday. The firm has a market capitalization of $8.34 billion, a PE ratio of 186.42, a PEG ratio of 3.89 and a beta of 2.72. The company has a current ratio of 1.90, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. Dutch Bros Inc. has a 1-year low of $25.46 and a 1-year high of $56.10. The business’s 50 day moving average is $45.38 and its 200-day moving average is $39.13.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $338.20 million for the quarter, compared to analyst estimates of $324.97 million. Dutch Bros had a net margin of 2.54% and a return on equity of 5.48%. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Sell-side analysts predict that Dutch Bros Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

BROS has been the topic of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Dutch Bros from $36.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Jefferies Financial Group lifted their target price on shares of Dutch Bros from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wedbush raised their price target on Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on Dutch Bros from $42.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, TD Cowen increased their target price on Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.27.

Insider Buying and Selling

In other news, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $36.03, for a total value of $1,452,837.69. Following the sale, the insider now owns 125,671 shares in the company, valued at approximately $4,527,926.13. The trade was a 24.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Travis Boersma sold 38,339 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.48, for a total transaction of $1,283,589.72. Following the sale, the chairman now owns 15,610 shares of the company’s stock, valued at $522,622.80. This trade represents a 71.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 560,698 shares of company stock valued at $19,040,697 over the last quarter. Corporate insiders own 46.50% of the company’s stock.

Dutch Bros Company 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.