State of New Jersey Common Pension Fund D Raises Position in Dutch Bros Inc. (NYSE:BROS)

State of New Jersey Common Pension Fund D boosted its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 23.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,891 shares of the company's stock after buying an additional 11,880 shares during the period. State of New Jersey Common Pension Fund D's holdings in Dutch Bros were worth $2,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management raised its stake in Dutch Bros by 52.3% during the 3rd 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 last quarter. Creative Planning increased its holdings in shares of Dutch Bros by 5.6% in the second quarter. Creative Planning now owns 7,673 shares of the company's stock valued at $318,000 after purchasing an additional 405 shares during the period. Keudell Morrison Wealth Management raised its stake in shares of Dutch Bros by 4.6% during the third quarter. Keudell Morrison Wealth Management now owns 11,036 shares of the company's stock worth $353,000 after purchasing an additional 490 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its holdings 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 purchasing an additional 500 shares during the period. Finally, Cannon Global Investment Management LLC grew its position in Dutch Bros by 7.7% in the 3rd quarter. Cannon Global Investment Management LLC now owns 7,000 shares of the company's stock valued at $224,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush upped their price objective 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. Stifel Nicolaus boosted their price target on shares of Dutch Bros from $42.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Dutch Bros from $44.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. TD Cowen lifted their price objective on Dutch Bros from $47.00 to $53.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, UBS Group increased their target price on Dutch Bros from $39.00 to $44.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $47.30.

Insiders Place Their Bets

In other Dutch Bros news, Chairman Travis Boersma sold 426,891 shares of the firm's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the completion of the transaction, the chairman now owns 467,228 shares of the company's stock, valued at approximately $14,759,732.52. This trade represents a 47.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $3,867,206.52. Following the completion of the sale, the insider now owns 9,817 shares in the company, valued at $327,691.46. This represents a 92.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,689,583 shares of company stock worth $55,164,707. Insiders own 46.50% of the company's stock.

Dutch Bros Price Performance

Shares of BROS traded down $0.29 on Friday, reaching $46.61. The stock had a trading volume of 3,322,924 shares, compared to its average volume of 3,725,341. Dutch Bros Inc. has a twelve month low of $25.46 and a twelve month high of $50.24. The firm has a market capitalization of $7.19 billion, a PE ratio of 160.73, a PEG ratio of 3.74 and a beta of 2.47. The firm has a 50-day moving average of $35.48 and a 200 day moving average of $35.83. The company has a quick ratio of 1.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.79.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $338.20 million for 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%. Dutch Bros's revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Sell-side analysts expect that Dutch Bros Inc. will post 0.39 EPS for the current year.

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.