15,000 Shares in Dutch Bros Inc. (NYSE:BROS) Bought by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC purchased a new position in shares of Dutch Bros Inc. (NYSE:BROS) in the 4th quarter, Holdings Channel reports. The firm purchased 15,000 shares of the company’s stock, valued at approximately $475,000. Dutch Bros makes up approximately 3.6% of Cannon Global Investment Management LLC’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds also recently bought and sold shares of the stock. Avior Wealth Management LLC lifted its stake in shares of Dutch Bros by 1,610.7% during the fourth quarter. Avior Wealth Management LLC now owns 1,283 shares of the company’s stock worth $41,000 after purchasing an additional 1,208 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Dutch Bros by 22.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,481 shares of the company’s stock worth $364,000 after buying an additional 2,100 shares in the last quarter. Cherry Creek Investment Advisors Inc. bought a new position in Dutch Bros in the 4th quarter worth approximately $327,000. International Assets Investment Management LLC acquired a new stake in Dutch Bros in the fourth quarter worth approximately $763,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Dutch Bros by 16.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,433 shares of the company’s stock worth $805,000 after purchasing an additional 3,637 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insider Transactions at Dutch Bros

In related news, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $28.90, for a total value of $231,200,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $28.90, for a total transaction of $231,200,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brian Maxwell sold 1,474 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $35.00, for a total value of $51,590.00. Following the completion of the sale, the chief operating officer now directly owns 1,039,646 shares of the company’s stock, valued at $36,387,610. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,907,188 shares of company stock worth $561,438,392. Insiders own 46.50% of the company’s stock.

Analyst Ratings Changes

BROS has been the subject of a number of recent research reports. TD Cowen reiterated a “hold” rating and set a $33.00 price objective on shares of Dutch Bros in a research report on Wednesday, April 10th. Piper Sandler raised Dutch Bros from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $32.00 to $37.00 in a research report on Monday, March 4th. JPMorgan Chase & Co. upped their price target on shares of Dutch Bros from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Barclays dropped their target price on shares of Dutch Bros from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Finally, Guggenheim reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Dutch Bros in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Dutch Bros currently has a consensus rating of “Moderate Buy” and an average target price of $34.44.

Dutch Bros Stock Down 0.6 %

Shares of Dutch Bros stock traded down $0.19 on Friday, reaching $29.98. 465,460 shares of the company were exchanged, compared to its average volume of 1,947,102. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 1,005.33 and a beta of 2.41. Dutch Bros Inc. has a one year low of $22.67 and a one year high of $36.17. The company has a 50-day moving average of $31.06 and a 200 day moving average of $28.79.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, February 21st. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $254.12 million during the quarter, compared to analysts’ expectations of $254.80 million. Dutch Bros had a net margin of 0.18% and a negative return on equity of 0.54%. On average, equities research analysts forecast that Dutch Bros Inc. will post 0.26 earnings per share for the current 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.