VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Dutch Bros Inc. $BROS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Dutch Bros Inc. (NYSE:BROS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,400 shares of the company’s stock, valued at approximately $1,321,000.

Several other hedge funds have also recently bought and sold shares of BROS. Osterweis Capital Management Inc. bought a new stake in shares of Dutch Bros during the second quarter worth approximately $27,000. Ancora Advisors LLC bought a new position in shares of Dutch Bros during the second quarter worth approximately $29,000. Rakuten Securities Inc. increased its stake in shares of Dutch Bros by 557.4% during the second quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock worth $31,000 after purchasing an additional 379 shares during the period. Ankerstar Wealth LLC acquired a new stake in Dutch Bros during the 4th quarter worth approximately $31,000. Finally, Quarry LP lifted its holdings in Dutch Bros by 83.5% during the 4th quarter. Quarry LP now owns 600 shares of the company’s stock worth $37,000 after purchasing an additional 273 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Dutch Bros Trading Up 1.1%

Shares of BROS stock opened at $43.91 on Friday. The stock has a market cap of $7.67 billion, a P/E ratio of 60.99, a price-to-earnings-growth ratio of 1.57 and a beta of 2.28. Dutch Bros Inc. has a 1 year low of $43.29 and a 1 year high of $74.02. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $56.65 and a 200 day simple moving average of $56.25.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $550.85 million for the quarter, compared to analyst estimates of $525.38 million. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The company’s revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. On average, research analysts predict that Dutch Bros Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Todd Penegor purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $51.56 per share, for a total transaction of $103,120.00. Following the completion of the transaction, the director owned 7,358 shares of the company’s stock, valued at approximately $379,378.48. This trade represents a 37.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 38.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BROS shares. Weiss Ratings restated a “hold (c)” rating on shares of Dutch Bros in a research note on Friday, July 17th. Telsey Advisory Group increased their price objective on Dutch Bros from $66.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Stephens reissued an “overweight” rating and set a $80.00 target price on shares of Dutch Bros in a report on Thursday, August 6th. Royal Bank Of Canada decreased their price target on shares of Dutch Bros from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Dutch Bros in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Dutch Bros presently has a consensus rating of “Moderate Buy” and an average target price of $76.45.

About Dutch Bros

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company has expanded from a single coffee cart into a national chain with locations in more than 20 states.

Dutch Bros’ menu includes specialty espresso-based coffees, cold brew, teas, Dutch Bros Blue Rebel energy drinks, smoothies, lemonades, sodas and other flavored beverages. Its shops emphasize drive-thru convenience, customizable drinks and customer-focused service, with some locations also offering walk-up windows or limited indoor seating.

The company combines company-operated shops with franchised locations, although its growth strategy has increasingly emphasized company-operated stores.