Merit Financial Group LLC Invests $359,000 in Dutch Bros Inc. (NYSE:BROS)

Merit Financial Group LLC bought a new stake in Dutch Bros Inc. (NYSE:BROS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,818 shares of the company’s stock, valued at approximately $359,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BROS. Raymond James Financial Inc. purchased a new position in Dutch Bros during the fourth quarter valued at $94,478,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Dutch Bros by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 885,055 shares of the company’s stock worth $49,785,000 after acquiring an additional 17,402 shares during the period. Scratch Capital LLC bought a new stake in shares of Dutch Bros in the fourth quarter worth $1,260,000. Empowered Funds LLC bought a new stake in Dutch Bros during the fourth quarter valued at about $1,530,000. Finally, Versor Investments LP grew its holdings in Dutch Bros by 128.7% during the fourth quarter. Versor Investments LP now owns 18,400 shares of the company’s stock valued at $964,000 after purchasing an additional 10,355 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BROS shares. Stifel Nicolaus dropped their price objective on Dutch Bros from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. TD Securities reiterated a “buy” rating and issued a $78.00 target price on shares of Dutch Bros in a research report on Thursday, May 8th. Piper Sandler decreased their price objective on Dutch Bros from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Dutch Bros in a research report on Monday, March 31st. Finally, Morgan Stanley set a $80.00 target price on Dutch Bros and gave the company an “overweight” rating in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Dutch Bros currently has a consensus rating of “Buy” and an average price target of $75.73.

Dutch Bros Stock Up 1.9%

Shares of NYSE:BROS opened at $71.62 on Thursday. Dutch Bros Inc. has a 52-week low of $26.96 and a 52-week high of $86.88. The business’s 50 day moving average is $64.40 and its 200 day moving average is $62.72. The stock has a market cap of $11.78 billion, a P/E ratio of 210.64, a price-to-earnings-growth ratio of 4.23 and a beta of 2.73. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Dutch Bros had a return on equity of 6.78% and a net margin of 2.75%. The business had revenue of $355.15 million for the quarter, compared to the consensus estimate of $343.30 million. During the same period last year, the business posted $0.09 EPS. The business’s revenue was up 28.7% compared to the same quarter last year. Sell-side analysts predict that Dutch Bros Inc. will post 0.57 EPS for the current year.

Insider Buying and Selling

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 155,322 shares of Dutch Bros stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $68.24, for a total transaction of $10,599,173.28. Following the completion of the sale, the insider now owns 2,218,611 shares of the company’s stock, valued at approximately $151,398,014.64. The trade was a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Travis Boersma sold 540,638 shares of Dutch Bros stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $65.95, for a total value of $35,655,076.10. Following the sale, the chairman now directly owns 2,099,499 shares of the company’s stock, valued at approximately $138,461,959.05. This represents a 20.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,465,214 shares of company stock worth $237,721,138 in the last ninety days. 42.40% of the stock is owned by insiders.

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.