Eagle Asset Management Inc. Increases Stock Position in Dutch Bros Inc. (NYSE:BROS)

Eagle Asset Management Inc. grew its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 58.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,020,447 shares of the company's stock after buying an additional 741,771 shares during the period. Eagle Asset Management Inc. owned 1.31% of Dutch Bros worth $64,715,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Baillie Gifford & Co. purchased a new stake in Dutch Bros in the third quarter worth $224,461,000. SG Americas Securities LLC purchased a new stake in Dutch Bros during the first quarter valued at approximately $200,000. Oppenheimer Asset Management Inc. bought a new position in shares of Dutch Bros in the third quarter worth about $1,207,000. 1832 Asset Management L.P. purchased a new position in shares of Dutch Bros during the 2nd quarter valued at $4,339,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Dutch Bros in the 1st quarter worth approximately $2,072,000. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Price Performance

Shares of Dutch Bros stock traded down $0.85 during trading hours on Friday, reaching $51.22. 1,053,828 shares of the company's stock were exchanged, compared to its average volume of 2,836,559. The company has a quick ratio of 1.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.79. The business has a fifty day moving average of $36.89 and a two-hundred day moving average of $36.42. The company has a market capitalization of $7.90 billion, a P/E ratio of 177.04, a price-to-earnings-growth ratio of 4.00 and a beta of 2.47. Dutch Bros Inc. has a 1 year low of $25.46 and a 1 year high of $52.98.

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

Insider Buying and Selling

In related news, Chairman Travis Boersma sold 3,600 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.00, for a total transaction of $115,200.00. Following the transaction, the chairman now owns 430,718 shares in the company, valued at $13,782,976. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $36.03, for a total transaction of $1,452,837.69. Following the transaction, the insider now directly owns 125,671 shares in the company, valued at $4,527,926.13. The trade was a 24.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,094,177 shares of company stock valued at $36,353,666. Corporate insiders own 46.50% of the company's stock.

Wall Street Analysts Forecast Growth

BROS has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Dutch Bros from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. TD Cowen increased their target price on Dutch Bros from $47.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Robert W. Baird boosted their target price on Dutch Bros from $37.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target on Dutch Bros from $36.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Finally, Stifel Nicolaus raised their target price on Dutch Bros from $42.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Dutch Bros has an average rating of "Moderate Buy" and a consensus target price of $47.30.

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.