Granite Investment Partners LLC Cuts Stake in Dutch Bros Inc. $BROS

Granite Investment Partners LLC cut its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 23.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,069 shares of the company’s stock after selling 19,719 shares during the period. Granite Investment Partners LLC’s holdings in Dutch Bros were worth $3,458,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its stake in Dutch Bros by 56.5% in the third quarter. Envestnet Asset Management Inc. now owns 109,530 shares of the company’s stock valued at $5,733,000 after buying an additional 39,561 shares during the last quarter. Versor Investments LP increased its holdings in shares of Dutch Bros by 78.9% during the second quarter. Versor Investments LP now owns 35,744 shares of the company’s stock valued at $2,444,000 after acquiring an additional 15,761 shares in the last quarter. Savoir Faire Capital Management L.P. raised its position in shares of Dutch Bros by 29.9% in the 3rd quarter. Savoir Faire Capital Management L.P. now owns 112,783 shares of the company’s stock valued at $5,903,000 after purchasing an additional 25,935 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Dutch Bros by 123.0% in the 2nd quarter. SG Americas Securities LLC now owns 310,720 shares of the company’s stock valued at $21,244,000 after purchasing an additional 171,356 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Dutch Bros by 14.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,173,710 shares of the company’s stock worth $148,643,000 after purchasing an additional 267,074 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Trading Down 3.1%

NYSE BROS opened at $47.27 on Tuesday. Dutch Bros Inc. has a 1 year low of $46.73 and a 1 year high of $80.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.49 and a quick ratio of 1.28. The company has a market capitalization of $7.78 billion, a PE ratio of 73.87, a P/E/G ratio of 1.76 and a beta of 2.54. The company has a fifty day moving average of $58.96 and a 200 day moving average of $58.97.

Dutch Bros (NYSE:BROS) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The business had revenue of $443.61 million during the quarter, compared to analyst estimates of $424.44 million. Dutch Bros had a return on equity of 9.56% and a net margin of 4.87%.The company’s revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. Research analysts forecast that Dutch Bros Inc. will post 0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Mizuho upped their price target on shares of Dutch Bros from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Evercore set a $73.00 target price on Dutch Bros in a research report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Dutch Bros in a research note on Wednesday, January 21st. TD Cowen reiterated a “buy” rating and set a $73.00 price target on shares of Dutch Bros in a research note on Friday, February 13th. Finally, Zacks Research lowered Dutch Bros from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.05.

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.