Covestor Ltd Raises Stock Holdings in Dutch Bros Inc. (NYSE:BROS)

Covestor Ltd boosted its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 355.6% in the third quarter, Holdings Channel.com reports. The fund owned 3,663 shares of the company’s stock after acquiring an additional 2,859 shares during the quarter. Covestor Ltd’s holdings in Dutch Bros were worth $117,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Hollencrest Capital Management lifted its position in shares of Dutch Bros by 52.3% during the third quarter. Hollencrest Capital Management now owns 914 shares of the company’s stock worth $29,000 after purchasing an additional 314 shares during the last quarter. Creative Planning increased its stake in Dutch Bros by 5.6% in the 2nd quarter. Creative Planning now owns 7,673 shares of the company’s stock worth $318,000 after buying an additional 405 shares during the period. Keudell Morrison Wealth Management lifted its holdings in Dutch Bros by 4.6% during the 3rd quarter. Keudell Morrison Wealth Management now owns 11,036 shares of the company’s stock valued at $353,000 after buying an additional 490 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its position in Dutch Bros by 150.2% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company’s stock valued at $27,000 after buying an additional 500 shares during the period. Finally, Cannon Global Investment Management LLC boosted its position in Dutch Bros by 7.7% in the 3rd quarter. Cannon Global Investment Management LLC now owns 7,000 shares of the company’s stock valued at $224,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insider Buying and Selling

In other Dutch Bros news, Chairman Travis Boersma sold 426,891 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the sale, the chairman now directly owns 467,228 shares in the company, valued at approximately $14,759,732.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Dutch Bros news, Chairman Travis Boersma sold 426,891 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the transaction, the chairman now owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.02, for a total transaction of $919,294.20. Following the sale, the insider now directly owns 432,518 shares in the company, valued at $13,849,226.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,689,583 shares of company stock worth $55,164,707 in the last ninety days. 46.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BROS has been the subject of several research analyst reports. UBS Group lifted their price target on shares of Dutch Bros from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Guggenheim raised Dutch Bros from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Piper Sandler raised their price target on Dutch Bros from $36.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday. Barclays upped their price objective on shares of Dutch Bros from $31.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, TD Cowen raised their target price on shares of Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Dutch Bros presently has a consensus rating of “Moderate Buy” and an average price target of $45.80.

Dutch Bros Stock Up 0.7 %

NYSE:BROS opened at $48.78 on Wednesday. The company’s 50-day simple moving average is $34.56 and its 200-day simple moving average is $35.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 2.19. Dutch Bros Inc. has a fifty-two week low of $25.46 and a fifty-two week high of $50.24. The stock has a market capitalization of $7.52 billion, a P/E ratio of 168.21, a P/E/G ratio of 5.20 and a beta of 2.47.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $338.20 million during the quarter, compared to the consensus estimate of $324.97 million. Dutch Bros had a net margin of 2.54% and a return on equity of 5.58%. Dutch Bros’s revenue was up 27.9% compared to the same quarter last year. During the same period last year, the firm earned $0.08 earnings per share. On average, equities analysts anticipate that Dutch Bros Inc. will post 0.33 earnings per share for the current fiscal year.

About Dutch Bros

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.