JPMorgan Chase & Co. Has $11.81 Million Holdings in Dutch Bros Inc. (NYSE:BROS)

JPMorgan Chase & Co. reduced its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 35.3% during the third quarter, HoldingsChannel.com reports. The fund owned 368,753 shares of the company’s stock after selling 201,503 shares during the quarter. JPMorgan Chase & Co.’s holdings in Dutch Bros were worth $11,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers grew its position in shares of Dutch Bros by 6,655.1% in the second quarter. Rhumbline Advisers now owns 84,776 shares of the company’s stock valued at $3,510,000 after purchasing an additional 83,521 shares in the last quarter. Victory Capital Management Inc. lifted its position in Dutch Bros by 12.6% in the 2nd quarter. Victory Capital Management Inc. now owns 19,918 shares of the company’s stock worth $825,000 after buying an additional 2,223 shares during the last quarter. Quest Partners LLC grew its holdings in shares of Dutch Bros by 3,321.7% during the 2nd quarter. Quest Partners LLC now owns 787 shares of the company’s stock valued at $33,000 after purchasing an additional 764 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Dutch Bros in the second quarter worth about $113,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in Dutch Bros in the 2nd quarter worth approximately $2,112,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Analysts Set New Price Targets

BROS has been the topic of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a research report on Tuesday, December 17th. UBS Group boosted their price target on Dutch Bros from $44.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Baird R W raised shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Barclays raised shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $70.00 in a report on Tuesday, January 7th. Finally, Wedbush boosted their price target on Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Dutch Bros presently has an average rating of “Buy” and a consensus target price of $57.18.

Insider Buying and Selling

In other Dutch Bros news, Chairman Travis Boersma sold 285,462 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $33.38, for a total transaction of $9,528,721.56. Following the sale, the chairman now owns 9,817 shares of the company’s stock, valued at approximately $327,691.46. This trade represents a 96.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 115,854 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $33.38, for a total transaction of $3,867,206.52. Following the sale, the insider now directly owns 9,817 shares of the company’s stock, valued at $327,691.46. The trade was a 92.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 560,698 shares of company stock valued at $19,040,697 in the last ninety days. 46.50% of the stock is owned by company insiders.

Dutch Bros Stock Up 2.2 %

Shares of BROS opened at $57.42 on Monday. The company has a market capitalization of $8.85 billion, a PE ratio of 198.01, a price-to-earnings-growth ratio of 3.89 and a beta of 2.71. The business’s 50 day moving average is $51.52 and its 200 day moving average is $40.80. Dutch Bros Inc. has a 12-month low of $25.46 and a 12-month high of $59.18. The company has a current ratio of 1.90, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79.

Dutch Bros (NYSE:BROS) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $338.20 million for the quarter, compared to the consensus estimate of $324.97 million. Dutch Bros had a net margin of 2.54% and a return on equity of 5.48%. Dutch Bros’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Research analysts expect that Dutch Bros Inc. will post 0.39 earnings per share for the current fiscal year.

About Dutch Bros

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.