Truist Financial Corp Cuts Position in Dutch Bros Inc. (NYSE:BROS)

Truist Financial Corp reduced its position in shares of Dutch Bros Inc. (NYSE:BROS) by 8.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,659 shares of the company’s stock after selling 2,547 shares during the period. Truist Financial Corp’s holdings in Dutch Bros were worth $1,186,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BROS. Creative Planning increased its stake in Dutch Bros by 5.6% during the 2nd quarter. Creative Planning now owns 7,673 shares of the company’s stock worth $318,000 after buying an additional 405 shares during the period. Keudell Morrison Wealth Management grew its stake in shares of Dutch Bros by 5.2% in the second quarter. Keudell Morrison Wealth Management now owns 10,546 shares of the company’s stock worth $437,000 after acquiring an additional 524 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Dutch Bros during the second quarter worth $27,000. Wealth Management Partners LLC raised its stake in shares of Dutch Bros by 4.2% in the first quarter. Wealth Management Partners LLC now owns 18,790 shares of the company’s stock valued at $620,000 after acquiring an additional 756 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings 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 purchasing an additional 764 shares during the period. 85.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dutch Bros

In related news, Chairman Travis Boersma sold 426,891 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now owns 467,228 shares in the company, valued at $14,759,732.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Dm Trust Aggregator, Llc sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.00, for a total transaction of $57,600.00. Following the completion of the sale, the insider now owns 712,819 shares in the company, valued at $22,810,208. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Travis Boersma sold 426,891 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the sale, the chairman now directly owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,128,885 shares of company stock worth $36,124,009. Insiders own 46.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Robert W. Baird cut their price target on Dutch Bros from $42.00 to $37.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Piper Sandler cut shares of Dutch Bros from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $41.00 to $36.00 in a report on Monday, August 19th. Stifel Nicolaus decreased their price target on shares of Dutch Bros from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Wedbush reissued an “outperform” rating and issued a $45.00 price objective on shares of Dutch Bros in a research report on Thursday, August 8th. Finally, Guggenheim raised shares of Dutch Bros from a “neutral” rating to a “buy” rating in a research 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’s stock. Based on data from MarketBeat, Dutch Bros has a consensus rating of “Moderate Buy” and an average target price of $40.20.

Dutch Bros Stock Performance

NYSE BROS opened at $32.35 on Friday. The company has a fifty day moving average of $32.35 and a two-hundred day moving average of $34.63. The company has a market capitalization of $4.99 billion, a PE ratio of 129.40, a P/E/G ratio of 2.55 and a beta of 2.49. Dutch Bros Inc. has a 1 year low of $23.31 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.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $324.92 million during the quarter, compared to analysts’ expectations of $317.39 million. Dutch Bros had a return on equity of 3.99% and a net margin of 1.95%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. As a group, analysts expect that Dutch Bros Inc. will post 0.32 earnings per share for the current year.

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.