Maverick Capital Ltd. Buys New Stake in Dutch Bros Inc. (NYSE:BROS)

Maverick Capital Ltd. bought a new stake in Dutch Bros Inc. (NYSE:BROS) during the third quarter, Holdings Channel reports. The firm bought 82,193 shares of the company’s stock, valued at approximately $2,633,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BROS. Public Employees Retirement System of Ohio acquired a new position in Dutch Bros in the 1st quarter valued at $2,072,000. California State Teachers Retirement System grew its stake in Dutch Bros by 34.7% in the 1st quarter. California State Teachers Retirement System now owns 67,175 shares of the company’s stock valued at $2,217,000 after buying an additional 17,290 shares during the last quarter. Virtu Financial LLC acquired a new stake in Dutch Bros in the 1st quarter worth $319,000. Cetera Investment Advisers grew its position in Dutch Bros by 537.1% in the 1st quarter. Cetera Investment Advisers now owns 89,619 shares of the company’s stock worth $2,957,000 after purchasing an additional 75,553 shares during the last quarter. Finally, Cetera Advisors LLC grew its position in Dutch Bros by 8.8% in the 1st quarter. Cetera Advisors LLC now owns 63,584 shares of the company’s stock worth $2,098,000 after purchasing an additional 5,139 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Dutch Bros Stock Performance

NYSE BROS opened at $53.76 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. The firm’s fifty day moving average price is $39.08 and its two-hundred day moving average price is $37.28. Dutch Bros Inc. has a 1 year low of $25.46 and a 1 year high of $54.59. The firm has a market capitalization of $8.29 billion, a P/E ratio of 185.39, a price-to-earnings-growth ratio of 3.91 and a beta of 2.47.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $338.20 million for the quarter, compared to analyst estimates of $324.97 million. Dutch Bros had a net margin of 2.54% and a return on equity of 5.48%. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, research analysts anticipate that Dutch Bros Inc. will post 0.39 EPS for the current year.

Insider Activity

In related news, major shareholder Dm Trust Aggregator, Llc sold 1,800 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.00, for a total value of $57,600.00. Following the transaction, the insider now directly owns 712,819 shares in the company, valued at approximately $22,810,208. This represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Travis Boersma sold 3,600 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.00, for a total transaction of $115,200.00. Following the completion of the transaction, the chairman now owns 430,718 shares in the company, valued at $13,782,976. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,065,467 shares of company stock valued at $35,434,372 over the last ninety days. 46.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BROS shares. Robert W. Baird raised their price target on shares of Dutch Bros from $37.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. TD Cowen raised their price target on shares of Dutch Bros from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wedbush raised their price target on shares of Dutch Bros from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler raised their price target on shares of Dutch Bros from $36.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Guggenheim upgraded shares of Dutch Bros from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.30.

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.