Bank of Nova Scotia Lowers Position in Dutch Bros Inc. $BROS

Bank of Nova Scotia decreased its stake in shares of Dutch Bros Inc. (NYSE:BROS) by 99.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,018 shares of the company’s stock after selling 520,068 shares during the period. Bank of Nova Scotia’s holdings in Dutch Bros were worth $254,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Dutch Bros during the 1st quarter worth $318,000. Empowered Funds LLC boosted its holdings in Dutch Bros by 15.9% in the first quarter. Empowered Funds LLC now owns 33,843 shares of the company’s stock valued at $2,089,000 after acquiring an additional 4,633 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Dutch Bros by 7.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 305,714 shares of the company’s stock valued at $18,875,000 after acquiring an additional 22,323 shares during the last quarter. California Public Employees Retirement System grew its position in Dutch Bros by 24.2% during the second quarter. California Public Employees Retirement System now owns 198,895 shares of the company’s stock valued at $13,598,000 after acquiring an additional 38,697 shares during the period. Finally, State Street Corp grew its position in Dutch Bros by 6.6% during the second quarter. State Street Corp now owns 1,978,441 shares of the company’s stock valued at $135,266,000 after acquiring an additional 121,683 shares during the period. 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 commented on the company. Barclays cut their price objective on Dutch Bros from $76.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dutch Bros in a report on Wednesday, May 20th. Freedom Capital upgraded shares of Dutch Bros to a “strong-buy” rating in a report on Wednesday, July 1st. Stephens started coverage on shares of Dutch Bros in a research report on Thursday, July 16th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Dutch Bros in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.86.

Insider Activity at Dutch Bros

In other Dutch Bros news, CEO Christine Barone sold 42,031 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $60.13, for a total transaction of $2,527,324.03. Following the transaction, the chief executive officer directly owned 44,573 shares in the company, valued at $2,680,174.49. This represents a 48.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $63.02, for a total transaction of $16,451,686.10. Following the transaction, the insider owned 2,410,800 shares in the company, valued at $151,928,616. This trade represents a 9.77% 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. Insiders have sold 4,086,245 shares of company stock valued at $243,021,771 over the last ninety days. Corporate insiders own 38.90% of the company’s stock.

Dutch Bros Price Performance

BROS stock opened at $65.86 on Friday. The stock’s 50 day moving average is $64.41 and its two-hundred day moving average is $57.53. Dutch Bros Inc. has a 52-week low of $44.58 and a 52-week high of $74.65. The company has a market capitalization of $11.50 billion, a PE ratio of 102.91, a P/E/G ratio of 1.98 and a beta of 2.31. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

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