PNC Financial Services Group Inc. Purchases 7,755 Shares of Dutch Bros Inc. $BROS

PNC Financial Services Group Inc. grew its position in Dutch Bros Inc. (NYSE:BROS) by 50.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 23,121 shares of the company’s stock after purchasing an additional 7,755 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dutch Bros were worth $1,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Osterweis Capital Management Inc. purchased a new position in shares of Dutch Bros during the second quarter valued at $27,000. Rakuten Securities Inc. raised its holdings in shares of Dutch Bros by 557.4% in the second quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock valued at $31,000 after acquiring an additional 379 shares in the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of Dutch Bros in the fourth quarter valued at about $31,000. Ankerstar Wealth LLC purchased a new stake in Dutch Bros in the fourth quarter worth about $31,000. Finally, Quarry LP lifted its stake in Dutch Bros by 83.5% in the fourth quarter. Quarry LP now owns 600 shares of the company’s stock worth $37,000 after acquiring an additional 273 shares during the period. Institutional investors own 85.54% of the company’s stock.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 750,000 shares of Dutch Bros stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $47,265,000.00. Following the transaction, the chairman directly owned 2,410,800 shares of the company’s stock, valued at approximately $151,928,616. The trade was a 23.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $16,451,686.10. Following the transaction, the insider directly owned 2,410,800 shares in the company, valued at approximately $151,928,616. The trade was 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 sold a total of 4,086,245 shares of company stock worth $243,021,771 over the last three months. Corporate insiders own 38.90% of the company’s stock.

Dutch Bros Stock Up 0.7%

NYSE:BROS opened at $65.86 on Friday. The company’s 50-day simple moving average is $64.41 and its 200-day simple moving average is $57.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 1.33. Dutch Bros Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $74.65. The stock has a market capitalization of $11.50 billion, a P/E ratio of 102.91, a P/E/G ratio of 1.98 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 EPS for the quarter, hitting the consensus estimate of $0.16. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The firm had revenue of $464.41 million during the quarter, compared to analyst estimates of $449.69 million. During the same quarter in the previous year, the business posted $0.14 EPS. Dutch Bros’s revenue was up 30.7% on a year-over-year basis. On average, equities analysts anticipate that Dutch Bros Inc. will post 0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BROS has been the topic of a number of research reports. Freedom Capital raised shares of Dutch Bros to a “strong-buy” rating in a research report on Wednesday, July 1st. DA Davidson boosted their price target on shares of Dutch Bros from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Barclays lowered their price target on shares of Dutch Bros from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Morgan Stanley increased their price objective on shares of Dutch Bros from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dutch Bros in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $77.86.

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.