The Manufacturers Life Insurance Company Acquires 9,671 Shares of Dutch Bros Inc. (NYSE:BROS)

The Manufacturers Life Insurance Company lifted its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 102.7% during the 2nd quarter, Holdings Channel reports. The firm owned 19,084 shares of the company’s stock after purchasing an additional 9,671 shares during the period. The Manufacturers Life Insurance Company’s holdings in Dutch Bros were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in BROS. Arcadia Investment Management Corp MI bought a new position in Dutch Bros in the second quarter valued at approximately $27,000. Quest Partners LLC increased its stake in Dutch Bros by 3,321.7% in the second quarter. Quest Partners LLC now owns 787 shares of the company’s stock valued at $33,000 after acquiring an additional 764 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Dutch Bros in the first quarter valued at approximately $26,000. Abound Wealth Management bought a new position in Dutch Bros in the second quarter valued at approximately $39,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in Dutch Bros in the second quarter valued at approximately $72,000. 85.54% of the stock is owned by institutional investors.

Dutch Bros Price Performance

BROS stock opened at $34.24 on Tuesday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 190.22, a PEG ratio of 2.55 and a beta of 2.49. The company has a quick ratio of 1.88, a current ratio of 2.19 and a debt-to-equity ratio of 0.82. Dutch Bros Inc. has a 12-month low of $23.31 and a 12-month high of $43.49. The company’s fifty day simple moving average is $32.31 and its 200 day simple moving average is $34.65.

Dutch Bros (NYSE:BROS) last released its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $317.39 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. Dutch Bros’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, analysts expect that Dutch Bros Inc. will post 0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BROS. Barclays cut their target price on shares of 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. Stifel Nicolaus cut their target price 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. UBS Group upgraded shares of Dutch Bros from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, August 15th. Piper Sandler lowered shares of Dutch Bros from an “overweight” rating to a “neutral” rating and cut their target price for the company from $41.00 to $36.00 in a research report on Monday, August 19th. Finally, Robert W. Baird cut 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Dutch Bros presently has an average rating of “Moderate Buy” and an average target price of $40.20.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 18,223 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $34.13, for a total value of $621,950.99. Following the sale, the chairman now owns 263,954 shares of the company’s stock, valued at $9,008,750.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.02, for a total transaction of $919,294.20. Following the sale, the insider now owns 432,518 shares of the company’s stock, valued at $13,849,226.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Travis Boersma sold 18,223 shares of Dutch Bros stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $34.13, for a total transaction of $621,950.99. Following the completion of the transaction, the chairman now directly owns 263,954 shares of the company’s stock, valued at $9,008,750.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,128,885 shares of company stock worth $36,124,009 over the last three months. 46.50% of the stock is currently owned by 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.