Econ Financial Services Corp Takes $577,000 Position in Dutch Bros Inc. $BROS

Econ Financial Services Corp purchased a new stake in shares of Dutch Bros Inc. (NYSE:BROS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,442 shares of the company’s stock, valued at approximately $577,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Jennison Associates LLC purchased a new position in shares of Dutch Bros during the second quarter valued at $23,169,000. Reliant Investment Partners LLC purchased a new position in shares of Dutch Bros during the second quarter valued at $772,000. Teacher Retirement System of Texas grew its holdings in shares of Dutch Bros by 54.6% during the second quarter. Teacher Retirement System of Texas now owns 28,648 shares of the company’s stock valued at $1,959,000 after buying an additional 10,122 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Dutch Bros by 211.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 12,457 shares of the company’s stock valued at $852,000 after buying an additional 8,462 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of Dutch Bros during the second quarter valued at $4,008,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insider Transactions at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 787,681 shares of the business’s stock in a transaction dated 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 owned 975,031 shares of the company’s stock, valued at $67,218,637.14. The trade was a 44.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $65.17, for a total value of $31,460,817.50. Following the completion of the sale, the insider directly owned 1,279,144 shares of the company’s stock, valued at $83,361,814.48. This represents a 27.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,161,101 shares of company stock valued at $207,633,882 in the last ninety days. Insiders own 42.40% of the company’s stock.

Dutch Bros Price Performance

Shares of NYSE:BROS opened at $59.51 on Wednesday. Dutch Bros Inc. has a fifty-two week low of $32.68 and a fifty-two week high of $86.88. The business has a 50-day moving average of $59.54 and a two-hundred day moving average of $63.23. The stock has a market capitalization of $9.79 billion, a P/E ratio of 126.63, a P/E/G ratio of 2.95 and a beta of 2.55. 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 (NYSE:BROS) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Dutch Bros had a return on equity of 8.86% and a net margin of 3.94%.The company had revenue of $415.81 million during the quarter, compared to analysts’ expectations of $403.24 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities research analysts predict that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on BROS shares. Wells Fargo & Company lowered their price target on Dutch Bros from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating on shares of Dutch Bros in a research note on Monday. Melius Research upgraded Dutch Bros to a “strong-buy” rating in a research note on Monday, July 14th. Zacks Research upgraded Dutch Bros from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dutch Bros in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dutch Bros presently has an average rating of “Buy” and a consensus price target of $77.39.

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.