PDT Partners LLC Has $7.87 Million Stock Position in Dutch Bros Inc. $BROS

PDT Partners LLC boosted its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 159.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,425 shares of the company’s stock after acquiring an additional 78,291 shares during the period. Dutch Bros makes up approximately 0.6% of PDT Partners LLC’s investment portfolio, making the stock its 15th largest holding. PDT Partners LLC owned 0.08% of Dutch Bros worth $7,867,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. lifted its holdings in Dutch Bros by 14.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company’s stock worth $268,095,000 after acquiring an additional 627,875 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Dutch Bros by 29.9% in the 1st quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company’s stock valued at $211,163,000 after purchasing an additional 788,100 shares during the period. Invesco Ltd. raised its stake in shares of Dutch Bros by 16.4% in the 1st quarter. Invesco Ltd. now owns 1,365,281 shares of the company’s stock valued at $84,292,000 after purchasing an additional 192,458 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Dutch Bros by 25.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,324,676 shares of the company’s stock valued at $81,786,000 after purchasing an additional 272,473 shares during the period. Finally, Driehaus Capital Management LLC raised its stake in shares of Dutch Bros by 3.0% in the 1st quarter. Driehaus Capital Management LLC now owns 1,320,807 shares of the company’s stock valued at $81,547,000 after purchasing an additional 38,989 shares during the period. 85.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BROS has been the subject of several analyst reports. Guggenheim raised their price objective on Dutch Bros from $72.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Barclays lifted their price target on Dutch Bros from $84.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Royal Bank Of Canada lifted their price target on Dutch Bros from $83.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $84.00 price target (up previously from $80.00) on shares of Dutch Bros in a report on Thursday, August 7th. Finally, Stifel Nicolaus reduced their price target on Dutch Bros from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Dutch Bros presently has a consensus rating of “Buy” and a consensus price target of $80.06.

Dutch Bros Trading Down 3.1%

Shares of NYSE:BROS opened at $71.97 on Monday. Dutch Bros Inc. has a 12-month low of $30.30 and a 12-month high of $86.88. The stock has a market cap of $11.84 billion, a PE ratio of 153.13, a P/E/G ratio of 4.03 and a beta of 2.64. The business has a 50 day moving average of $64.95 and a 200-day moving average of $65.93. The company has a quick ratio of 1.42, a current ratio of 1.64 and a debt-to-equity ratio of 0.69.

Dutch Bros (NYSE:BROS) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The company had revenue of $415.81 million during the quarter, compared to the consensus estimate of $403.24 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, equities research analysts forecast that Dutch Bros Inc. will post 0.57 earnings per share for the current year.

Insider Transactions at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of Dutch Bros stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $65.17, for a total value of $31,460,817.50. Following the transaction, the insider owned 1,279,144 shares in the company, valued at $83,361,814.48. The trade was a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Travis Boersma sold 1,250,371 shares of Dutch Bros stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total value of $81,486,678.07. Following the completion of the transaction, the chairman owned 1,279,144 shares in the company, valued at approximately $83,361,814.48. This represents a 49.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,161,101 shares of company stock worth $207,633,882. Company insiders own 42.40% of the company’s stock.

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.