HighTower Advisors LLC Reduces Position in Dutch Bros Inc. (NYSE:BROS)

HighTower Advisors LLC cut its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 89.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,424 shares of the company's stock after selling 150,813 shares during the period. HighTower Advisors LLC's holdings in Dutch Bros were worth $557,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management grew its holdings in Dutch Bros by 52.3% in the third quarter. Hollencrest Capital Management now owns 914 shares of the company's stock worth $29,000 after purchasing an additional 314 shares during the period. Creative Planning grew its stake in shares of Dutch Bros by 5.6% in the 2nd quarter. Creative Planning now owns 7,673 shares of the company's stock worth $318,000 after buying an additional 405 shares during the last quarter. Keudell Morrison Wealth Management increased its position in Dutch Bros by 4.6% during the 3rd quarter. Keudell Morrison Wealth Management now owns 11,036 shares of the company's stock valued at $353,000 after buying an additional 490 shares in the last quarter. Jamison Private Wealth Management Inc. raised its stake in Dutch Bros by 150.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company's stock valued at $27,000 after buying an additional 500 shares during the last quarter. Finally, Cannon Global Investment Management LLC boosted its holdings in Dutch Bros by 7.7% in the third quarter. Cannon Global Investment Management LLC now owns 7,000 shares of the company's stock worth $224,000 after acquiring an additional 500 shares in the last quarter. Institutional investors own 85.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BROS. Robert W. Baird raised their price target on Dutch Bros from $37.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of Dutch Bros from $48.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday. William Blair reiterated an "outperform" rating on shares of Dutch Bros in a report on Tuesday. Jefferies Financial Group raised their price target on shares of Dutch Bros from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, Stifel Nicolaus upped their price objective on Dutch Bros from $42.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.27.

Dutch Bros Price Performance

Shares of BROS stock traded up $1.74 on Friday, hitting $54.06. 2,924,941 shares of the stock traded hands, compared to its average volume of 2,786,769. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.90 and a quick ratio of 1.68. Dutch Bros Inc. has a 52 week low of $25.46 and a 52 week high of $56.10. The firm has a 50 day simple moving average of $45.38 and a two-hundred day simple moving average of $39.10. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 186.42, a PEG ratio of 3.89 and a beta of 2.72.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. Dutch Bros had a return on equity of 5.48% and a net margin of 2.54%. The business had revenue of $338.20 million for the quarter, compared to the consensus estimate of $324.97 million. During the same period in the previous year, the business earned $0.08 earnings per share. The business's revenue was up 27.9% on a year-over-year basis. As a group, equities 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 285,462 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $33.38, for a total value of $9,528,721.56. Following the sale, the chairman now owns 9,817 shares in the company, valued at approximately $327,691.46. The trade was a 96.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 115,854 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $33.38, for a total transaction of $3,867,206.52. Following the sale, the insider now directly owns 9,817 shares in the company, valued at approximately $327,691.46. The trade was a 92.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 560,698 shares of company stock worth $19,040,697. 46.50% 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.