Principal Financial Group Inc. Sells 656,641 Shares of Dutch Bros Inc. (NYSE:BROS)

Principal Financial Group Inc. trimmed its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 87.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 95,841 shares of the company's stock after selling 656,641 shares during the quarter. Principal Financial Group Inc. owned about 0.06% of Dutch Bros worth $3,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BROS. Arcadia Investment Management Corp MI purchased a new stake in Dutch Bros in the second quarter worth approximately $27,000. Jamison Private Wealth Management Inc. increased its position 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 acquiring an additional 500 shares during the last quarter. Hollencrest Capital Management lifted its holdings in Dutch Bros by 52.3% in the third quarter. Hollencrest Capital Management now owns 914 shares of the company's stock valued at $29,000 after acquiring an additional 314 shares during the period. Quest Partners LLC boosted its position in Dutch Bros by 3,321.7% in the second quarter. Quest Partners LLC now owns 787 shares of the company's stock worth $33,000 after purchasing an additional 764 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Dutch Bros during the 3rd quarter valued at about $36,000. 85.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 38,339 shares of the company's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $33.48, for a total value of $1,283,589.72. Following the transaction, the chairman now owns 15,610 shares of the company's stock, valued at $522,622.80. This represents a 71.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 115,854 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $33.38, for a total transaction of $3,867,206.52. Following the completion of the transaction, the insider now directly 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 have sold a total of 560,698 shares of company stock worth $19,040,697 over the last ninety days. Company insiders own 46.50% of the company's stock.

Wall Street Analysts Forecast Growth

BROS has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on shares of Dutch Bros from $48.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Piper Sandler lifted their price target on shares of Dutch Bros from $36.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, November 11th. TD Cowen raised their price objective on shares of Dutch Bros from $47.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their target price on shares of Dutch Bros from $42.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, Wedbush boosted their price objective on Dutch Bros from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $51.27.

Dutch Bros Price Performance

Shares of BROS traded up $0.04 during mid-day trading on Friday, hitting $56.35. 2,865,450 shares of the stock were exchanged, compared to its average volume of 3,239,175. 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 $8.69 billion, a PE ratio of 194.32, a price-to-earnings-growth ratio of 3.89 and a beta of 2.72. Dutch Bros Inc. has a 52-week low of $25.46 and a 52-week high of $58.10. The firm has a 50-day moving average of $49.24 and a two-hundred day moving average of $40.19.

Dutch Bros (NYSE:BROS - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. Dutch Bros had a net margin of 2.54% and a return on equity of 5.48%. The company had revenue of $338.20 million for the quarter, compared to the consensus estimate of $324.97 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Dutch Bros's revenue was up 27.9% on a year-over-year basis. On average, equities analysts predict that Dutch Bros Inc. will post 0.39 earnings per share for the current year.

Dutch Bros 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.