Mane Global Capital Management LP Purchases New Holdings in Dutch Bros Inc. $BROS

Mane Global Capital Management LP bought a new position in shares of Dutch Bros Inc. (NYSE:BROS) during the second quarter, according to its most recent filing with the SEC. The fund bought 525,616 shares of the company’s stock, valued at approximately $35,936,000. Dutch Bros accounts for 1.5% of Mane Global Capital Management LP’s investment portfolio, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of BROS. Wedmont Private Capital raised its stake in shares of Dutch Bros by 3.0% during the 2nd quarter. Wedmont Private Capital now owns 5,473 shares of the company’s stock valued at $363,000 after purchasing an additional 158 shares during the period. RiverPark Advisors LLC boosted its stake in Dutch Bros by 4.8% in the second quarter. RiverPark Advisors LLC now owns 3,966 shares of the company’s stock worth $271,000 after buying an additional 181 shares in the last quarter. EFG Asset Management North America Corp. grew its holdings in shares of Dutch Bros by 0.6% during the 2nd quarter. EFG Asset Management North America Corp. now owns 46,080 shares of the company’s stock valued at $3,149,000 after purchasing an additional 253 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Dutch Bros by 6.6% in the 2nd quarter. Verdence Capital Advisors LLC now owns 4,515 shares of the company’s stock valued at $309,000 after acquiring an additional 278 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of Dutch Bros by 8.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 4,591 shares of the company’s stock valued at $314,000 after acquiring an additional 346 shares during the last quarter. Institutional investors own 85.54% of the company’s stock.

Insider Activity

In related news, major shareholder Dm Individual Aggregator, Llc sold 648,089 shares of Dutch Bros stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $55.44, for a total transaction of $35,930,054.16. Following the completion of the transaction, the insider directly owned 9,817 shares of the company’s stock, valued at $544,254.48. This trade represents a 98.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Travis Boersma sold 1,678,616 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $55.44, for a total transaction of $93,062,471.04. Following the completion of the sale, the chairman owned 9,817 shares in the company, valued at approximately $544,254.48. This trade represents a 99.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,465,214 shares of company stock valued at $189,800,291. 42.40% of the stock is owned by company insiders.

Dutch Bros Trading Up 3.6%

BROS opened at $61.05 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Dutch Bros Inc. has a 52 week low of $47.16 and a 52 week high of $86.88. The stock has a market cap of $10.04 billion, a PE ratio of 122.10, a PEG ratio of 3.04 and a beta of 2.55. The business has a 50 day moving average of $55.24 and a 200-day moving average of $61.72.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Dutch Bros had a return on equity of 8.91% and a net margin of 4.04%.The business had revenue of $423.58 million during the quarter, compared to the consensus estimate of $414.81 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. Equities research analysts predict that Dutch Bros Inc. will post 0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BROS has been the topic of several recent research reports. Cowen restated a “buy” rating on shares of Dutch Bros in a research report on Monday, December 1st. Royal Bank Of Canada lifted their target price on shares of Dutch Bros from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Morgan Stanley set a $84.00 price target on shares of Dutch Bros in a research report on Thursday, November 6th. UBS Group restated a “buy” rating and issued a $85.00 price objective on shares of Dutch Bros in a research report on Tuesday, October 28th. Finally, Zacks Research lowered shares of Dutch Bros from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dutch Bros currently has an average rating of “Moderate Buy” and an average price target of $76.67.

About Dutch Bros

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.