Engineers Gate Manager LP Sells 231,332 Shares of Dutch Bros Inc. $BROS

Engineers Gate Manager LP cut its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 68.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 104,374 shares of the company’s stock after selling 231,332 shares during the quarter. Engineers Gate Manager LP’s holdings in Dutch Bros were worth $7,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. D.A. Davidson & CO. lifted its stake in Dutch Bros by 0.4% in the first quarter. D.A. Davidson & CO. now owns 57,042 shares of the company’s stock worth $2,890,000 after acquiring an additional 211 shares during the period. AdvisorShares Investments LLC increased its position in Dutch Bros by 7.2% during the 4th quarter. AdvisorShares Investments LLC now owns 3,164 shares of the company’s stock valued at $194,000 after purchasing an additional 212 shares during the period. Parkside Financial Bank & Trust increased its position in Dutch Bros by 9.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,466 shares of the company’s stock valued at $151,000 after purchasing an additional 221 shares during the period. Arizona State Retirement System raised its holdings in Dutch Bros by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 35,124 shares of the company’s stock worth $2,522,000 after purchasing an additional 238 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Dutch Bros by 6.5% in the 3rd quarter. Lazard Asset Management LLC now owns 4,434 shares of the company’s stock worth $232,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 85.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Telsey Advisory Group lifted 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, July 31st. Piper Sandler increased 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. Royal Bank Of Canada lowered their price objective on shares of Dutch Bros from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Stephens reaffirmed an “overweight” rating and set a $80.00 price objective on shares of Dutch Bros in a research report on Thursday, August 6th. Finally, UBS Group reiterated a “neutral” rating on shares of Dutch Bros in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.15.

Dutch Bros Trading Down 3.5%

NYSE BROS opened at $43.38 on Friday. Dutch Bros Inc. has a 12 month low of $43.29 and a 12 month high of $74.02. The stock has a market cap of $7.58 billion, a P/E ratio of 60.26, a P/E/G ratio of 1.60 and a beta of 2.28. The stock’s fifty day moving average price is $57.21 and its 200-day moving average price is $56.33. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20.

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

Insider Transactions at Dutch Bros

In other news, Director Todd Penegor bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $51.56 per share, with a total value of $103,120.00. Following the completion of the acquisition, the director owned 7,358 shares of the company’s stock, valued at approximately $379,378.48. This represents a 37.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 38.90% of the company’s stock.

Dutch Bros Profile

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.