Savoir Faire Capital Management L.P. Grows Stake in Dutch Bros Inc. $BROS

Savoir Faire Capital Management L.P. grew its position in shares of Dutch Bros Inc. (NYSE:BROS) by 42.5% in the second quarter, Holdings Channel reports. The firm owned 86,848 shares of the company’s stock after purchasing an additional 25,905 shares during the period. Dutch Bros comprises approximately 2.9% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 12th biggest position. Savoir Faire Capital Management L.P.’s holdings in Dutch Bros were worth $5,938,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BROS. BNP Paribas Financial Markets grew its position in shares of Dutch Bros by 1,572.2% during the 1st quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company’s stock valued at $70,661,000 after purchasing an additional 1,076,045 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Dutch Bros by 29.9% during 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 in the last quarter. AQR Capital Management LLC grew its position in shares of Dutch Bros by 421.1% during the 1st quarter. AQR Capital Management LLC now owns 810,273 shares of the company’s stock valued at $48,843,000 after purchasing an additional 654,794 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Dutch Bros during the 2nd quarter valued at $44,380,000. Finally, Lord Abbett & CO. LLC grew its position in shares of Dutch Bros by 120.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,082,414 shares of the company’s stock valued at $66,828,000 after purchasing an additional 591,657 shares in the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Stock Performance

NYSE BROS opened at $55.57 on Friday. The company has a 50-day simple moving average of $59.28 and a two-hundred day simple moving average of $63.17. 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 Inc. has a 12-month low of $32.68 and a 12-month high of $86.88. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 118.24, a PEG ratio of 2.85 and a beta of 2.55.

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

Analyst Upgrades and Downgrades

BROS has been the subject of a number of recent analyst reports. Barclays reduced their price target on shares of Dutch Bros from $92.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Wells Fargo & Company cut their target price on shares of Dutch Bros from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Guggenheim upped their target price on shares of Dutch Bros from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Bank of America upped their target price on shares of Dutch Bros from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Finally, Mizuho upgraded shares of Dutch Bros to a “strong-buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $77.39.

Insider Activity

In other news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $31,460,817.50. Following the completion of the transaction, the insider directly owned 1,279,144 shares of the company’s stock, valued at approximately $83,361,814.48. This represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Travis Boersma sold 1,250,371 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $65.17, for a total transaction of $81,486,678.07. Following the transaction, the chairman directly owned 1,279,144 shares of the company’s stock, valued at approximately $83,361,814.48. This trade represents a 49.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,161,101 shares of company stock valued at $207,633,882. 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.