State of New Jersey Common Pension Fund D Grows Stake in Dutch Bros Inc. (NYSE:BROS)

State of New Jersey Common Pension Fund D boosted its stake in Dutch Bros Inc. (NYSE:BROS) by 23.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,891 shares of the company’s stock after buying an additional 11,880 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Dutch Bros were worth $2,014,000 at the end of the most recent reporting period.

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

Insider Transactions at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $31.60, for a total value of $5,287,154.00. Following the completion of the transaction, the insider now owns 467,228 shares of the company’s stock, valued at $14,764,404.80. This trade represents a 26.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Travis Boersma sold 38,339 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $33.48, for a total value of $1,283,589.72. Following the sale, the chairman now directly owns 15,610 shares in the company, valued at $522,622.80. This represents a 71.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,689,583 shares of company stock worth $55,164,707 over the last ninety days. Company insiders own 46.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush raised their price target on shares of Dutch Bros from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. TD Cowen boosted their target price on Dutch Bros from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays upped their price target on Dutch Bros from $31.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Robert W. Baird boosted their price objective on Dutch Bros from $37.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Guggenheim raised Dutch Bros from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.30.

Dutch Bros Trading Down 0.6 %

NYSE BROS opened at $46.61 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.90 and a quick ratio of 1.68. The stock has a market capitalization of $7.19 billion, a P/E ratio of 160.72, a PEG ratio of 3.81 and a beta of 2.47. The firm’s 50-day moving average is $35.48 and its two-hundred day moving average is $35.83. Dutch Bros Inc. has a 12 month low of $25.46 and a 12 month high of $50.24.

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

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.