Envestnet Asset Management Inc. Acquires 55,590 Shares of Dutch Bros Inc. (NYSE:BROS)

Envestnet Asset Management Inc. lifted its holdings in Dutch Bros Inc. (NYSE:BROS) by 109.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 106,562 shares of the company’s stock after buying an additional 55,590 shares during the period. Envestnet Asset Management Inc.’s holdings in Dutch Bros were worth $4,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in shares of Dutch Bros in the 2nd quarter worth approximately $27,000. Quest Partners LLC raised its stake in Dutch Bros by 3,321.7% during the 2nd quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after acquiring an additional 764 shares during the period. Transcendent Capital Group LLC bought a new stake in Dutch Bros during the 1st quarter worth approximately $26,000. Denver PWM LLC bought a new stake in Dutch Bros during the 2nd quarter worth approximately $77,000. Finally, Headlands Technologies LLC bought a new stake in Dutch Bros during the 2nd quarter worth approximately $113,000. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Trading Up 0.4 %

BROS stock opened at $32.16 on Wednesday. The firm has a fifty day moving average price of $33.46 and a 200 day moving average price of $34.77. Dutch Bros Inc. has a fifty-two week low of $22.85 and a fifty-two week high of $43.49. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 2.19. The firm has a market cap of $5.70 billion, a PE ratio of 180.72, a price-to-earnings-growth ratio of 2.84 and a beta of 2.49.

Dutch Bros (NYSE:BROS) last posted 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 firm had revenue of $324.92 million during the quarter, compared to analyst estimates of $317.39 million. During the same period last year, the firm posted $0.07 earnings per share. Dutch Bros’s revenue for the quarter was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that Dutch Bros Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on BROS. Barclays decreased 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 note on Friday, August 9th. Wedbush restated an “outperform” rating and set a $45.00 target price on shares of Dutch Bros in a research note on Thursday, August 8th. Stifel Nicolaus decreased 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 note on Thursday, August 8th. TD Cowen reiterated a “buy” rating and set a $47.00 price objective on shares of Dutch Bros in a research report on Thursday, September 12th. Finally, Piper Sandler cut shares of Dutch Bros from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $41.00 to $36.00 in a research report on Monday, August 19th. Three research 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, Dutch Bros has an average rating of “Moderate Buy” and an average target price of $39.73.

Insider Activity at Dutch Bros

In related 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 completion of the transaction, the chairman now directly owns 263,954 shares of the company’s stock, valued at $9,008,750.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Dutch Bros news, major shareholder Dm Trust Aggregator, Llc sold 186,418 shares of Dutch Bros stock in a transaction on Monday, September 9th. The shares were sold at an average price of $32.39, for a total transaction of $6,038,079.02. Following the completion of the transaction, the insider now directly owns 512,300 shares of the company’s stock, valued at $16,593,397. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Travis Boersma sold 18,223 shares of Dutch Bros stock in a transaction on Monday, September 16th. The stock was sold at an average price of $34.13, for a total transaction of $621,950.99. Following the transaction, the chairman now directly owns 263,954 shares of the company’s stock, valued at $9,008,750.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,128,885 shares of company stock valued at $36,124,009. 46.50% of the stock is owned by corporate insiders.

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.