Granite Investment Partners LLC Buys 27,181 Shares of Dutch Bros Inc. (NYSE:BROS)

Granite Investment Partners LLC grew its stake in Dutch Bros Inc. (NYSE:BROS) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 332,841 shares of the company’s stock after acquiring an additional 27,181 shares during the quarter. Granite Investment Partners LLC owned 0.19% of Dutch Bros worth $13,780,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new position in shares of Dutch Bros in the first quarter worth approximately $26,000. Arcadia Investment Management Corp MI bought a new position in Dutch Bros in the 2nd quarter valued at approximately $27,000. Quest Partners LLC lifted its position in Dutch Bros by 3,321.7% in the 2nd quarter. Quest Partners LLC now owns 787 shares of the company’s stock valued at $33,000 after acquiring an additional 764 shares in the last quarter. Abound Wealth Management purchased a new stake in Dutch Bros during the 2nd quarter valued at $39,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Dutch Bros in the 2nd quarter worth $72,000. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Stock Performance

NYSE:BROS opened at $34.85 on Friday. The stock has a 50-day simple moving average of $34.45 and a two-hundred day simple moving average of $34.64. Dutch Bros Inc. has a 52-week low of $22.67 and a 52-week high of $43.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 2.19. The firm has a market capitalization of $6.17 billion, a PE ratio of 193.61, a P/E/G ratio of 2.70 and a beta of 2.49.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Dutch Bros had a return on equity of 3.99% and a net margin of 1.95%. The business had revenue of $324.92 million for the quarter, compared to the consensus estimate of $317.39 million. During the same period in the previous year, the business earned $0.07 earnings per share. The business’s revenue was up 30.0% on a year-over-year basis. Analysts forecast that Dutch Bros Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays dropped their price objective on Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Robert W. Baird dropped their price target on shares of Dutch Bros from $42.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Guggenheim upgraded shares of Dutch Bros from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Stifel Nicolaus lowered their price objective on shares of Dutch Bros from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler downgraded shares of Dutch Bros from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $41.00 to $36.00 in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.73.

Insider Activity

In other news, Chairman Travis Boersma sold 426,891 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the transaction, the chairman now directly owns 467,228 shares in the company, valued at $14,759,732.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $31.60, for a total value of $5,287,154.00. Following the sale, the insider now directly owns 467,228 shares in the company, valued at $14,764,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Travis Boersma sold 426,891 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the sale, the chairman now owns 467,228 shares in the company, valued at $14,759,732.52. The disclosure for this sale can be found here. Insiders have sold 1,128,885 shares of company stock worth $36,124,009 over the last ninety days. Corporate insiders own 46.50% of the company’s stock.

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.