Polar Asset Management Partners Inc. Invests $1.37 Million in Dutch Bros Inc. (NYSE:BROS)

Polar Asset Management Partners Inc. acquired a new position in Dutch Bros Inc. (NYSE:BROS - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 42,800 shares of the company's stock, valued at approximately $1,371,000.

Other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. bought a new stake in Dutch Bros during the 3rd quarter valued at $224,461,000. Wasatch Advisors LP raised its stake in shares of Dutch Bros by 232.1% during the third quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company's stock valued at $132,229,000 after purchasing an additional 2,885,306 shares in the last quarter. Marshall Wace LLP lifted its holdings in Dutch Bros by 15.4% in the second quarter. Marshall Wace LLP now owns 3,962,374 shares of the company's stock worth $164,042,000 after purchasing an additional 527,716 shares during the period. Driehaus Capital Management LLC grew its position in Dutch Bros by 11.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,245,241 shares of the company's stock valued at $92,953,000 after buying an additional 222,650 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Dutch Bros by 58.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,020,447 shares of the company's stock valued at $64,715,000 after buying an additional 741,771 shares during the period. 85.54% of the stock is currently owned by institutional investors.

Dutch Bros Trading Up 2.2 %

Shares of NYSE:BROS traded up $1.17 during mid-day trading on Friday, hitting $55.15. The stock had a trading volume of 2,402,582 shares, compared to its average volume of 2,809,663. The company's 50 day moving average is $40.74 and its 200-day moving average is $37.76. Dutch Bros Inc. has a 12-month low of $25.46 and a 12-month high of $56.10. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 1.90. The company has a market cap of $8.50 billion, a PE ratio of 191.90, a P/E/G ratio of 4.00 and a beta of 2.72.

Dutch Bros (NYSE:BROS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $324.97 million. During the same quarter last year, the firm posted $0.08 earnings per share. Dutch Bros's revenue was up 27.9% compared to the same quarter last year. On average, sell-side analysts predict that Dutch Bros Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 38,339 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.48, for a total transaction of $1,283,589.72. Following the completion of the sale, the chairman now directly owns 15,610 shares of the company's stock, valued at $522,622.80. This trade represents a 71.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 115,854 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $33.38, for a total value of $3,867,206.52. Following the completion of the transaction, the insider now owns 9,817 shares in the company, valued at $327,691.46. This represents a 92.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,060,067 shares of company stock worth $35,261,572 in the last quarter. 46.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BROS has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Dutch Bros from $37.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. TD Cowen lifted their price target on Dutch Bros from $47.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Barclays upped their price objective on Dutch Bros from $31.00 to $38.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. UBS Group raised their target price on Dutch Bros from $44.00 to $65.00 and gave the company a "buy" rating in a research note on Friday. Finally, Wedbush boosted their price target on shares of Dutch Bros from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.40.

About Dutch Bros

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.