Abound Wealth Management Buys Shares of 950 Dutch Bros Inc. (NYSE:BROS)

Abound Wealth Management purchased a new position in Dutch Bros Inc. (NYSE:BROS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 950 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BROS. Wasatch Advisors LP purchased a new stake in Dutch Bros during the 1st quarter valued at $41,988,000. Neuberger Berman Group LLC increased its position in Dutch Bros by 17.7% during the fourth quarter. Neuberger Berman Group LLC now owns 27,759 shares of the company’s stock valued at $879,000 after acquiring an additional 4,170 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Dutch Bros in the first quarter valued at about $4,430,000. Janney Montgomery Scott LLC boosted its position in Dutch Bros by 96.4% in the first quarter. Janney Montgomery Scott LLC now owns 27,295 shares of the company’s stock worth $901,000 after purchasing an additional 13,395 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Dutch Bros during the 1st quarter valued at about $200,000. 85.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Robert W. Baird reduced their target price 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. Barclays decreased their target price on Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Wedbush reiterated an “outperform” rating and set a $45.00 target price on shares of Dutch Bros in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on Dutch Bros from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Finally, Bank of America lifted their price objective on Dutch Bros from $44.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.73.

Insider Transactions at Dutch Bros

In other news, Chairman Travis Boersma sold 280,518 shares of Dutch Bros stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $32.36, for a total value of $9,077,562.48. Following the completion of the transaction, the chairman now owns 322,177 shares in the company, valued at approximately $10,425,647.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Dm Trust Aggregator, Llc sold 186,418 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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 owns 512,300 shares in the company, valued at approximately $16,593,397. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Travis Boersma sold 280,518 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $32.36, for a total value of $9,077,562.48. Following the completion of the transaction, the chairman now directly owns 322,177 shares in the company, valued at approximately $10,425,647.72. The disclosure for this sale can be found here. Insiders have sold a total of 1,096,452 shares of company stock worth $35,018,776 in the last three months. Insiders own 46.50% of the company’s stock.

Dutch Bros Stock Performance

NYSE:BROS opened at $34.01 on Monday. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 188.94, a PEG ratio of 2.70 and a beta of 2.49. Dutch Bros Inc. has a 1 year low of $22.67 and a 1 year high of $43.49. The stock’s 50 day simple moving average is $34.96 and its two-hundred day simple moving average is $34.57. 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 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. The firm had revenue of $324.92 million during the quarter, compared to analyst estimates of $317.39 million. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. Dutch Bros’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. As a group, equities analysts anticipate that Dutch Bros Inc. will post 0.32 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.