Verition Fund Management LLC Increases Stake in Dutch Bros Inc. (NYSE:BROS)

Verition Fund Management LLC increased its holdings in Dutch Bros Inc. (NYSE:BROSFree Report) by 95.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 290,113 shares of the company’s stock after purchasing an additional 141,725 shares during the period. Verition Fund Management LLC owned approximately 0.16% of Dutch Bros worth $9,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Dutch Bros by 42.9% in the 3rd quarter. FMR LLC now owns 8,581,751 shares of the company’s stock worth $199,526,000 after purchasing an additional 2,578,145 shares in the last quarter. Vanguard Group Inc. raised its holdings in Dutch Bros by 32.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,614,550 shares of the company’s stock worth $107,288,000 after purchasing an additional 1,120,908 shares in the last quarter. American Century Companies Inc. raised its holdings in Dutch Bros by 191.7% in the 3rd quarter. American Century Companies Inc. now owns 1,177,148 shares of the company’s stock worth $27,369,000 after purchasing an additional 773,616 shares in the last quarter. Invesco Ltd. bought a new position in Dutch Bros in the 3rd quarter worth $11,549,000. Finally, Fenimore Asset Management Inc. bought a new position in Dutch Bros in the 4th quarter worth $13,610,000. 85.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Brian Maxwell sold 1,474 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $35.00, for a total value of $51,590.00. Following the transaction, the chief operating officer now owns 1,039,646 shares in the company, valued at approximately $36,387,610. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $33.88, for a total value of $271,040,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brian Maxwell sold 1,474 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $35.00, for a total transaction of $51,590.00. Following the completion of the transaction, the chief operating officer now owns 1,039,646 shares in the company, valued at approximately $36,387,610. The disclosure for this sale can be found here. Insiders have sold a total of 9,811,698 shares of company stock valued at $336,111,345 in the last 90 days. 46.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BROS has been the subject of several research reports. Bank of America upped their price objective on shares of Dutch Bros from $44.00 to $49.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of Dutch Bros from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a research note on Thursday, February 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of Dutch Bros in a research note on Wednesday, April 3rd. Finally, Piper Sandler upgraded shares of Dutch Bros from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $32.00 to $37.00 in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.90.

Read Our Latest Stock Report on Dutch Bros

Dutch Bros Stock Performance

Shares of BROS stock opened at $39.88 on Tuesday. Dutch Bros Inc. has a one year low of $22.67 and a one year high of $40.35. The company’s 50-day moving average is $32.97 and its 200 day moving average is $30.74. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 221.57, a price-to-earnings-growth ratio of 5.73 and a beta of 2.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.98 and a current ratio of 2.29.

Dutch Bros (NYSE:BROSGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $275.10 million for the quarter, compared to the consensus estimate of $255.71 million. Dutch Bros had a net margin of 1.21% and a return on equity of 1.99%. Sell-side analysts expect that Dutch Bros Inc. will post 0.29 EPS for the current fiscal year.

Dutch Bros Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Dutch Bros (NYSE:BROS)

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