Janney Montgomery Scott LLC reduced its position in shares of Dutch Bros Inc. (NYSE:BROS – Get Rating) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,907 shares of the company’s stock after selling 1,593 shares during the period. Janney Montgomery Scott LLC’s holdings in Dutch Bros were worth $371,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. LPL Financial LLC purchased a new stake in shares of Dutch Bros in the second quarter valued at approximately $10,332,000. Clearbridge Investments LLC grew its position in shares of Dutch Bros by 72.0% in the first quarter. Clearbridge Investments LLC now owns 516,394 shares of the company’s stock valued at $28,541,000 after purchasing an additional 216,194 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Dutch Bros by 33.3% in the first quarter. Federated Hermes Inc. now owns 800,000 shares of the company’s stock valued at $44,216,000 after purchasing an additional 200,000 shares in the last quarter. State of Michigan Retirement System purchased a new stake in shares of Dutch Bros in the second quarter valued at approximately $5,697,000. Finally, Blair William & Co. IL grew its position in shares of Dutch Bros by 422.9% in the first quarter. Blair William & Co. IL now owns 182,592 shares of the company’s stock valued at $10,092,000 after purchasing an additional 147,673 shares in the last quarter.
Wall Street Analysts Forecast Growth
BROS has been the subject of a number of analyst reports. Jefferies Financial Group dropped their price target on Dutch Bros from $55.00 to $45.00 in a research report on Thursday, November 10th. Cowen dropped their price target on Dutch Bros from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Piper Sandler lowered their price objective on Dutch Bros from $40.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, November 10th. Cowen lowered their price objective on Dutch Bros from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Thursday, November 10th. Finally, JPMorgan Chase & Co. upgraded Dutch Bros from a “neutral” rating to an “overweight” rating and set a $38.00 price objective for the company in a research report on Wednesday, October 12th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.90.
Dutch Bros Stock Down 0.5 %
Dutch Bros (NYSE:BROS – Get Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Dutch Bros had a negative return on equity of 2.74% and a negative net margin of 1.03%. The company had revenue of $198.65 million for the quarter, compared to analysts’ expectations of $196.27 million. Research analysts anticipate that Dutch Bros Inc. will post -0.06 EPS for the current year.
Insiders Place Their Bets
In other news, CMO John Patrick Graham sold 8,000 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $31.31, for a total value of $250,480.00. Following the sale, the chief marketing officer now directly owns 163,332 shares in the company, valued at $5,113,924.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 49.30% of the stock is owned by insiders.
Dutch Bros Company Profile
Dutch Bros Inc operates and franchises drive-thru shops. It offers Dutch Bros hot and cold espresso-based beverages, and cold brew coffee products, as well as Blue Rebel energy drinks, tea, lemonade, smoothies, and other beverages through company-operated shops and online channels. As of May 11, 2022, it operated 572 drive-thru coffee locations across 12 states in the United States.
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