Thornburg Investment Management Inc. boosted its holdings in Dutch Bros Inc. (NYSE:BROS – Free Report) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,792 shares of the company’s stock after acquiring an additional 8,081 shares during the period. Thornburg Investment Management Inc.’s holdings in Dutch Bros were worth $5,252,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in BROS. Alyeska Investment Group L.P. bought a new stake in Dutch Bros in the 4th quarter valued at $113,880,000. Westfield Capital Management Co. LP bought a new stake in Dutch Bros in the 4th quarter valued at $108,948,000. Norges Bank bought a new stake in Dutch Bros in the 4th quarter valued at $96,951,000. Balyasny Asset Management L.P. raised its stake in Dutch Bros by 196.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,817,201 shares of the company’s stock valued at $95,112,000 after acquiring an additional 1,203,338 shares during the period. Finally, Amundi raised its stake in Dutch Bros by 90.4% in the 3rd quarter. Amundi now owns 1,390,216 shares of the company’s stock valued at $68,162,000 after acquiring an additional 660,036 shares during the period. Institutional investors own 85.54% of the company’s stock.
Insider Activity
In other news, CEO Christine Barone sold 42,031 shares of Dutch Bros stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $60.13, for a total transaction of $2,527,324.03. Following the sale, the chief executive officer directly owned 44,573 shares of the company’s stock, valued at approximately $2,680,174.49. This trade represents a 48.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of Dutch Bros stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $47,265,000.00. Following the sale, the chairman directly owned 2,410,800 shares in the company, valued at $151,928,616. The trade was a 23.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 4,086,245 shares of company stock valued at $243,021,771. 38.90% of the stock is currently owned by corporate insiders.
Dutch Bros Stock Up 1.1%
Dutch Bros (NYSE:BROS – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $464.41 million for the quarter, compared to analyst estimates of $449.70 million. Dutch Bros had a return on equity of 9.42% and a net margin of 4.61%.Dutch Bros’s revenue was up 30.7% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. Sell-side analysts forecast that Dutch Bros Inc. will post 0.84 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on BROS. DA Davidson restated a “buy” rating and issued a $75.00 price target on shares of Dutch Bros in a research note on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of Dutch Bros in a research note on Monday, April 20th. Oppenheimer started coverage on Dutch Bros in a research note on Friday, May 1st. They issued an “outperform” rating and a $72.00 price target on the stock. KeyCorp increased their price objective on Dutch Bros from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, BNP Paribas Exane started coverage on Dutch Bros in a research report on Monday, March 30th. They set an “outperform” rating and a $73.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.00.
Get Our Latest Stock Analysis on BROS
Dutch Bros Company Profile
Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.
The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.
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