Jennison Associates LLC Sells 8,879 Shares of Dutch Bros Inc. $BROS

Jennison Associates LLC trimmed its stake in shares of Dutch Bros Inc. (NYSE:BROS) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,188 shares of the company’s stock after selling 8,879 shares during the period. Jennison Associates LLC’s holdings in Dutch Bros were worth $18,906,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new position in Dutch Bros in the 4th quarter worth $113,880,000. Westfield Capital Management Co. LP acquired a new stake in shares of Dutch Bros in the 4th quarter valued at about $108,948,000. Norges Bank bought a new stake in shares of Dutch Bros in the fourth quarter valued at about $96,951,000. Balyasny Asset Management L.P. lifted its holdings in shares of Dutch Bros by 196.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,817,201 shares of the company’s stock valued at $95,112,000 after purchasing an additional 1,203,338 shares in the last quarter. Finally, Interval Partners LP bought a new stake in shares of Dutch Bros in the fourth quarter valued at about $57,276,000. 85.54% of the stock is owned by institutional investors.

Dutch Bros Stock Performance

Shares of NYSE BROS opened at $66.07 on Wednesday. The stock has a 50 day moving average price of $62.33 and a 200 day moving average price of $57.34. Dutch Bros Inc. has a 52 week low of $44.58 and a 52 week high of $74.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a market capitalization of $11.54 billion, a PE ratio of 103.24, a price-to-earnings-growth ratio of 2.01 and a beta of 2.31.

Dutch Bros (NYSE:BROS) last posted its quarterly 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 firm had revenue of $464.41 million for the quarter, compared to analyst estimates of $449.69 million. Dutch Bros had a return on equity of 9.42% and a net margin of 4.61%.The business’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 EPS. Analysts predict that Dutch Bros Inc. will post 0.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on BROS shares. UBS Group reiterated a “buy” rating on shares of Dutch Bros in a report on Wednesday, May 20th. Morgan Stanley boosted their target price on Dutch Bros from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. DA Davidson upped their price target on Dutch Bros from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Piper Sandler raised their price target on shares of Dutch Bros from $61.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Finally, Oppenheimer raised their price target on shares of Dutch Bros from $72.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Dutch Bros currently has an average rating of “Moderate Buy” and a consensus price target of $77.50.

Insider Activity

In related news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider directly owned 2,410,800 shares of the company’s stock, valued at approximately $151,928,616. This trade represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of the business’s stock in a transaction 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 owned 2,410,800 shares in the company, valued at approximately $151,928,616. The trade was a 23.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 4,086,245 shares of company stock valued at $243,021,771. 38.90% of the stock is owned by insiders.

Dutch Bros Company Profile

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.