Geode Capital Management LLC Purchases 39,349 Shares of Dutch Bros Inc. $BROS

Geode Capital Management LLC grew its position in Dutch Bros Inc. (NYSE:BROS) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,265,083 shares of the company’s stock after acquiring an additional 39,349 shares during the period. Geode Capital Management LLC’s holdings in Dutch Bros were worth $138,699,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Dutch Bros by 56.5% in the third quarter. Envestnet Asset Management Inc. now owns 109,530 shares of the company’s stock worth $5,733,000 after purchasing an additional 39,561 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Dutch Bros by 31.6% in the third quarter. JPMorgan Chase & Co. now owns 204,705 shares of the company’s stock worth $10,714,000 after purchasing an additional 49,194 shares during the period. Thornburg Investment Management Inc. boosted its position in shares of Dutch Bros by 143.9% in the third quarter. Thornburg Investment Management Inc. now owns 77,711 shares of the company’s stock worth $4,067,000 after purchasing an additional 45,847 shares during the period. Magnetar Financial LLC boosted its position in shares of Dutch Bros by 107.2% in the third quarter. Magnetar Financial LLC now owns 140,590 shares of the company’s stock worth $7,358,000 after purchasing an additional 72,751 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Dutch Bros by 1,559.3% in the fourth quarter. M&T Bank Corp now owns 97,334 shares of the company’s stock worth $5,959,000 after purchasing an additional 91,468 shares during the period. 85.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BROS shares. DA Davidson reiterated a “buy” rating and issued a $75.00 price target on shares of Dutch Bros in a research report on Monday. Citigroup upped their price target on shares of Dutch Bros from $84.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wolfe Research started coverage on shares of Dutch Bros in a research report on Monday, March 9th. They issued an “outperform” rating and a $77.00 price target for the company. Barclays dropped their price target on shares of Dutch Bros from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Piper Sandler upped their target price on shares of Dutch Bros from $59.00 to $61.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Dutch Bros presently has an average rating of “Moderate Buy” and an average price target of $76.00.

Dutch Bros Price Performance

Shares of NYSE:BROS opened at $56.01 on Friday. 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 firm has a fifty day moving average price of $53.57 and a 200 day moving average price of $55.73. Dutch Bros Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $77.88. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 87.52, a P/E/G ratio of 1.83 and a beta of 2.36.

Dutch Bros (NYSE:BROS) last issued its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The firm had revenue of $464.41 million during the quarter, compared to analyst estimates of $449.70 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Dutch Bros’s revenue for the quarter was up 30.7% on a year-over-year basis. As a group, sell-side analysts expect that Dutch Bros Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Dm Individual Aggregator, Llc sold 189,655 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $56.21, for a total transaction of $10,660,507.55. Following the completion of the transaction, the insider owned 3,265,362 shares in the company, valued at approximately $183,545,998.02. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Todd Allan Penegor bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $51.17 per share, with a total value of $102,340.00. Following the transaction, the director owned 5,358 shares of the company’s stock, valued at $274,168.86. The trade was a 59.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 2,022,106 shares of company stock worth $115,725,491. 38.90% of the stock is owned by insiders.

About Dutch Bros

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.