PNC Financial Services Group Inc. Raises Position in Dutch Bros Inc. $BROS

PNC Financial Services Group Inc. grew its stake in Dutch Bros Inc. (NYSE:BROS) by 50.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,121 shares of the company’s stock after purchasing an additional 7,755 shares during the period. PNC Financial Services Group Inc.’s holdings in Dutch Bros were worth $1,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Alyeska Investment Group L.P. bought a new position in shares of Dutch Bros during the 4th quarter valued at approximately $113,880,000. Westfield Capital Management Co. LP bought a new stake in Dutch Bros in the fourth quarter worth $108,948,000. Norges Bank bought a new stake in Dutch Bros in the fourth quarter worth $96,951,000. Balyasny Asset Management L.P. boosted its stake in Dutch Bros by 196.0% during the third quarter. Balyasny Asset Management L.P. now owns 1,817,201 shares of the company’s stock worth $95,112,000 after buying an additional 1,203,338 shares during the period. Finally, Interval Partners LP purchased a new position in Dutch Bros during the fourth quarter worth $57,276,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Performance

BROS stock opened at $65.86 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $64.41 and its two-hundred day simple moving average is $57.53. Dutch Bros Inc. has a twelve month low of $44.58 and a twelve month high of $74.65. The firm has a market cap of $11.50 billion, a price-to-earnings ratio of 102.91, a PEG ratio of 1.98 and a beta of 2.31.

Dutch Bros (NYSE:BROS) last released its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $464.41 million during the quarter, compared to the consensus estimate of $449.69 million. Dutch Bros had a return on equity of 9.42% and a net margin of 4.61%.The business’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. Analysts predict that Dutch Bros Inc. will post 0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Telsey Advisory Group increased their target price on shares of Dutch Bros from $66.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler raised their target price on shares of Dutch Bros from $61.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. DA Davidson lifted their price target on shares of Dutch Bros from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Oppenheimer upped their price target on shares of Dutch Bros from $72.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Dutch Bros in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dutch Bros has a consensus rating of “Moderate Buy” and an average price target of $77.86.

Insider Activity

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $16,451,686.10. Following the transaction, the insider directly owned 2,410,800 shares in the company, valued at $151,928,616. This represents a 9.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $63.02, for a total transaction of $47,265,000.00. Following the transaction, the chairman directly owned 2,410,800 shares in the company, valued at approximately $151,928,616. This trade represents a 23.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 4,086,245 shares of company stock worth $243,021,771 in the last ninety days. 38.90% of the stock is currently owned by insiders.

About Dutch Bros

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.