Richards Merrill & Peterson Inc. Buys 378 Shares of Dutch Bros Inc. $BROS

Richards Merrill & Peterson Inc. grew its stake in Dutch Bros Inc. (NYSE:BROS) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,097 shares of the company’s stock after buying an additional 378 shares during the period. Richards Merrill & Peterson Inc.’s holdings in Dutch Bros were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. bought a new stake in Dutch Bros in the first quarter worth $31,000. Kiker Wealth Management LLC boosted its holdings in Dutch Bros by 4,423.1% during the 2nd quarter. Kiker Wealth Management LLC now owns 588 shares of the company’s stock valued at $40,000 after acquiring an additional 575 shares during the period. Banque Transatlantique SA bought a new position in Dutch Bros during the 1st quarter worth approximately $38,000. GAMMA Investing LLC lifted its position in Dutch Bros by 85.3% in the first quarter. GAMMA Investing LLC now owns 821 shares of the company’s stock valued at $51,000 after purchasing an additional 378 shares during the last quarter. Finally, Stone House Investment Management LLC purchased a new stake in shares of Dutch Bros during the first quarter valued at approximately $54,000. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Down 0.3%

Shares of NYSE:BROS opened at $56.98 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.42 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $59.73 and a two-hundred day simple moving average of $63.12. Dutch Bros Inc. has a 12-month low of $32.68 and a 12-month high of $86.88. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 121.24, a PEG ratio of 3.14 and a beta of 2.55.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The company had revenue of $415.81 million for the quarter, compared to analysts’ expectations of $403.24 million. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. Dutch Bros’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. On average, research analysts anticipate that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Dutch Bros

In related news, Chairman Travis Boersma sold 1,250,371 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the sale, the chairman directly owned 1,279,144 shares of the company’s stock, valued at $83,361,814.48. This trade represents a 49.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the insider owned 1,279,144 shares of the company’s stock, valued at $83,361,814.48. The trade was a 27.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,161,101 shares of company stock valued at $207,633,882 in the last 90 days. Company insiders own 42.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Zacks Research raised shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a research note on Thursday. UBS Group raised their target price on Dutch Bros from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Wells Fargo & Company lowered their price target on Dutch Bros from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating and set a $85.00 target price on shares of Dutch Bros in a report on Wednesday, September 24th. Finally, Bank of America lifted their target price on shares of Dutch Bros from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $77.82.

Dutch Bros Company 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.