Sandia Investment Management LP Cuts Stock Holdings in Dutch Bros Inc. (NYSE:BROS)

Sandia Investment Management LP cut its stake in Dutch Bros Inc. (NYSE:BROS) by 55.6% in the second quarter, HoldingsChannel reports. The firm owned 10,000 shares of the company’s stock after selling 12,500 shares during the quarter. Sandia Investment Management LP’s holdings in Dutch Bros were worth $414,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BROS. Vanguard Group Inc. increased its stake in shares of Dutch Bros by 35.0% during the first quarter. Vanguard Group Inc. now owns 6,412,246 shares of the company’s stock worth $211,604,000 after buying an additional 1,661,778 shares during the period. Renaissance Technologies LLC acquired a new position in Dutch Bros during the 2nd quarter worth approximately $57,435,000. Wasatch Advisors LP purchased a new stake in shares of Dutch Bros in the 1st quarter valued at approximately $41,988,000. Concurrent Investment Advisors LLC raised its holdings in shares of Dutch Bros by 846.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,240,399 shares of the company’s stock valued at $51,353,000 after purchasing an additional 1,109,370 shares in the last quarter. Finally, Joho Capital LLC lifted its position in shares of Dutch Bros by 428.9% during the 1st quarter. Joho Capital LLC now owns 1,364,514 shares of the company’s stock worth $45,029,000 after purchasing an additional 1,106,511 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Down 1.9 %

BROS stock opened at $33.95 on Wednesday. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 188.61, a price-to-earnings-growth ratio of 2.70 and a beta of 2.49. The company has a fifty day moving average price of $34.01 and a 200 day moving average price of $34.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.19 and a quick ratio of 1.88. Dutch Bros Inc. has a 12 month low of $22.67 and a 12 month high of $43.49.

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

Wall Street Analyst Weigh In

BROS has been the topic of several recent analyst reports. TD Cowen reissued a “buy” rating and issued a $47.00 target price on shares of Dutch Bros in a report on Thursday, September 12th. JPMorgan Chase & Co. raised their target price on Dutch Bros from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Stifel Nicolaus lowered their price target on Dutch Bros from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Robert W. Baird cut their price objective 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. Finally, Guggenheim upgraded shares of Dutch Bros from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.73.

Insider Buying and Selling at Dutch Bros

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

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.