Kornitzer Capital Management Inc. KS Invests $4.01 Million in Dutch Bros Inc. $BROS

Kornitzer Capital Management Inc. KS purchased a new position in Dutch Bros Inc. (NYSE:BROS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 58,620 shares of the company’s stock, valued at approximately $4,008,000.

A number of other hedge funds have also recently made changes to their positions in BROS. GAMMA Investing LLC boosted its position in shares of Dutch Bros by 85.3% in the 1st quarter. GAMMA Investing LLC now owns 821 shares of the company’s stock worth $51,000 after purchasing an additional 378 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Dutch Bros by 366.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,773 shares of the company’s stock valued at $1,468,000 after acquiring an additional 18,671 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Dutch Bros by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,385 shares of the company’s stock valued at $1,320,000 after acquiring an additional 678 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Dutch Bros by 8.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 28,306 shares of the company’s stock valued at $1,748,000 after acquiring an additional 2,310 shares in the last quarter. Finally, Spire Wealth Management lifted its position in Dutch Bros by 357.4% in the 1st quarter. Spire Wealth Management now owns 2,877 shares of the company’s stock valued at $178,000 after acquiring an additional 2,248 shares in the last quarter. 85.54% of the stock is owned by institutional investors.

Dutch Bros Price Performance

Shares of BROS opened at $56.98 on Friday. The firm has a market cap of $9.37 billion, a PE ratio of 121.24, a P/E/G ratio of 3.13 and a beta of 2.55. 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 firm has a fifty day simple moving average of $59.73 and a two-hundred day simple moving average of $63.20. Dutch Bros Inc. has a 1-year low of $32.68 and a 1-year high of $86.88.

Dutch Bros (NYSE:BROS) last announced its 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. The business had revenue of $415.81 million during the quarter, compared to analyst estimates of $403.24 million. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. On average, equities analysts anticipate that Dutch Bros Inc. will post 0.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BROS shares. Melius Research raised Dutch Bros to a “strong-buy” rating in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dutch Bros in a research report on Friday. Morgan Stanley upped their price objective on Dutch Bros from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on Dutch Bros from $81.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 30th. Finally, Wells Fargo & Company lowered their price objective on Dutch Bros from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Dutch Bros presently has an average rating of “Buy” and an average target price of $77.82.

Insider Buying and Selling at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 482,750 shares of the company’s stock in a transaction on 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 directly owned 1,279,144 shares in the company, valued at $83,361,814.48. This represents a 27.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Travis Boersma sold 787,681 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $68.94, for a total value of $54,302,728.14. Following the completion of the sale, the chairman owned 975,031 shares of the company’s stock, valued at $67,218,637.14. This trade represents a 44.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,161,101 shares of company stock valued at $207,633,882 over the last 90 days. 42.40% of the stock is currently owned by company insiders.

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.