Bank of New York Mellon Corp Raises Stake in Dutch Bros Inc. (NYSE:BROS)

Bank of New York Mellon Corp grew its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 8,247.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,081,306 shares of the company’s stock after acquiring an additional 1,068,352 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Dutch Bros worth $44,766,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BROS. Vanguard Group Inc. boosted its holdings in Dutch Bros by 35.0% during the 1st quarter. Vanguard Group Inc. now owns 6,412,246 shares of the company’s stock valued at $211,604,000 after acquiring an additional 1,661,778 shares during the period. Joho Capital LLC boosted its stake in shares of Dutch Bros by 428.9% during the first quarter. Joho Capital LLC now owns 1,364,514 shares of the company’s stock valued at $45,029,000 after purchasing an additional 1,106,511 shares during the period. Wasatch Advisors LP bought a new position in shares of Dutch Bros in the first quarter worth approximately $41,988,000. Clearbridge Investments LLC increased its stake in shares of Dutch Bros by 0.8% in the first quarter. Clearbridge Investments LLC now owns 870,897 shares of the company’s stock worth $28,740,000 after buying an additional 7,240 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Dutch Bros in the first quarter worth $23,137,000. 85.54% of the stock is currently owned by institutional investors.

Dutch Bros Stock Up 2.2 %

Shares of Dutch Bros stock opened at $31.00 on Monday. Dutch Bros Inc. has a 1 year low of $22.67 and a 1 year high of $43.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.19 and a quick ratio of 1.88. The company has a 50-day moving average of $36.79 and a 200 day moving average of $34.28. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 172.22, a PEG ratio of 2.54 and a beta of 2.53.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share 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 the consensus estimate of $317.39 million. During the same quarter last year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Dutch Bros Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Dutch Bros

In related news, Chairman Travis Boersma sold 426,891 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $31.59, for a total value of $13,485,486.69. Following the transaction, the chairman now owns 467,228 shares in the company, valued at approximately $14,759,732.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Travis Boersma sold 426,891 shares of the stock in a transaction that occurred on 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 sale, the chairman now owns 467,228 shares in the company, valued at $14,759,732.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.02, for a total transaction of $919,294.20. Following the completion of the transaction, the insider now owns 432,518 shares of the company’s stock, valued at $13,849,226.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 624,116 shares of company stock worth $19,730,335. 46.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BROS. TD Cowen cut their price target on shares of Dutch Bros from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Bank of America boosted their price target on Dutch Bros from $44.00 to $49.00 and gave the company a “buy” rating in a report on Monday, June 10th. Barclays decreased their target price on Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. UBS Group upgraded shares of Dutch Bros from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Dutch Bros from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.73.

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.