Renaissance Technologies LLC Buys Shares of 1,387,317 Dutch Bros Inc. (NYSE:BROS)

Renaissance Technologies LLC purchased a new stake in shares of Dutch Bros Inc. (NYSE:BROS) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,387,317 shares of the company’s stock, valued at approximately $57,435,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BROS. Vanguard Group Inc. boosted its position in shares of Dutch Bros by 35.0% during the 1st quarter. Vanguard Group Inc. now owns 6,412,246 shares of the company’s stock worth $211,604,000 after purchasing an additional 1,661,778 shares during the period. Joho Capital LLC boosted its position 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 worth $45,029,000 after buying an additional 1,106,511 shares during the period. Wasatch Advisors LP acquired a new stake in shares of Dutch Bros in the first quarter valued at $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 buying an additional 1,109,370 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Dutch Bros by 8,247.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,081,306 shares of the company’s stock worth $44,766,000 after acquiring an additional 1,068,352 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Trading Up 2.2 %

BROS opened at $34.70 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 2.19. Dutch Bros Inc. has a one year low of $22.67 and a one year high of $43.49. The company has a market cap of $6.15 billion, a P/E ratio of 192.78, a PEG ratio of 2.70 and a beta of 2.49. The business’s 50-day simple moving average is $34.66 and its 200-day simple moving average is $34.64.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results 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 net margin of 1.95% and a return on equity of 3.99%. The company had revenue of $324.92 million for the quarter, compared to analyst estimates of $317.39 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts expect that Dutch Bros Inc. will post 0.32 EPS for the current fiscal year.

Insider Activity at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 18,223 shares of the company’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 completion of the transaction, the chairman now owns 263,954 shares in the company, valued at $9,008,750.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dutch Bros news, Chairman Travis Boersma sold 18,223 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $34.13, for a total value of $621,950.99. Following the completion of the sale, the chairman now owns 263,954 shares in the company, valued at $9,008,750.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Dm Trust Aggregator, Llc sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $34.01, for a total transaction of $156,446.00. Following the transaction, the insider now owns 507,700 shares in the company, valued at $17,266,877. The disclosure for this sale can be found here. Insiders have sold 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.

Analysts Set New Price Targets

Several research firms have weighed in on BROS. Wedbush reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Dutch Bros in a research report on Thursday, August 8th. Robert W. Baird dropped their price objective on shares of Dutch Bros from $42.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Guggenheim upgraded shares of Dutch Bros from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Barclays decreased their price target on shares of Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on 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 issued a buy rating to the company’s stock. Based on data from 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.