Procyon Advisors LLC Sells 5,241 Shares of Dutch Bros Inc. (NYSE:BROS)

Procyon Advisors LLC lessened its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 42.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,068 shares of the company's stock after selling 5,241 shares during the quarter. Procyon Advisors LLC's holdings in Dutch Bros were worth $370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. increased its position in shares of Dutch Bros by 150.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company's stock worth $27,000 after acquiring an additional 500 shares in the last quarter. Hollencrest Capital Management increased its holdings in Dutch Bros by 52.3% during the 3rd quarter. Hollencrest Capital Management now owns 914 shares of the company's stock worth $29,000 after purchasing an additional 314 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Dutch Bros in the 3rd quarter valued at about $36,000. nVerses Capital LLC bought a new stake in shares of Dutch Bros in the third quarter valued at about $38,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Dutch Bros during the fourth quarter worth about $41,000. 85.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on BROS. William Blair reissued an "outperform" rating on shares of Dutch Bros in a research report on Tuesday, December 17th. Barclays raised shares of Dutch Bros from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $38.00 to $70.00 in a research report on Tuesday, January 7th. Robert W. Baird raised shares of Dutch Bros from a "neutral" rating to an "outperform" rating and raised their target price for the company from $60.00 to $70.00 in a research report on Monday, January 6th. TD Cowen boosted their price target on shares of Dutch Bros from $47.00 to $53.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Piper Sandler increased their price objective on shares of Dutch Bros from $36.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Dutch Bros has an average rating of "Buy" and a consensus target price of $58.00.

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Dutch Bros Price Performance

Shares of NYSE BROS traded down $0.65 during mid-day trading on Monday, hitting $59.82. 2,196,408 shares of the stock traded hands, compared to its average volume of 1,872,244. The company has a market cap of $9.22 billion, a PE ratio of 206.28, a price-to-earnings-growth ratio of 3.16 and a beta of 2.71. Dutch Bros Inc. has a twelve month low of $25.46 and a twelve month high of $61.33. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.90 and a quick ratio of 1.68. The firm has a 50 day simple moving average of $53.53 and a two-hundred day simple moving average of $41.40.

Dutch Bros (NYSE:BROS - Get Free Report) last announced 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 firm 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 EPS. The business's quarterly revenue was up 27.9% compared to the same quarter last year. As a group, equities research analysts forecast that Dutch Bros Inc. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $36.03, for a total value of $1,452,837.69. Following the completion of the sale, the insider now owns 125,671 shares of the company's stock, valued at approximately $4,527,926.13. This trade represents a 24.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Travis Boersma sold 285,462 shares of the company's 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 $9,528,721.56. Following the transaction, the chairman now directly owns 9,817 shares in the company, valued at $327,691.46. The trade was a 96.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 560,698 shares of company stock worth $19,040,697. 46.50% of the stock is owned by corporate insiders.

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.