State of Michigan Retirement System Makes New $1.55 Million Investment in Dutch Bros Inc. $BROS

State of Michigan Retirement System purchased a new stake in Dutch Bros Inc. (NYSE:BROS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,600 shares of the company’s stock, valued at approximately $1,550,000.

Other large investors have also recently modified their holdings of the company. Osterweis Capital Management Inc. bought a new position in shares of Dutch Bros in the second quarter worth approximately $27,000. Brown Lisle Cummings Inc. purchased a new position in Dutch Bros in the 4th quarter worth approximately $31,000. Rakuten Securities Inc. grew its stake in Dutch Bros by 557.4% in the 2nd quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock worth $31,000 after buying an additional 379 shares in the last quarter. Ankerstar Wealth LLC bought a new position in shares of Dutch Bros in the 4th quarter worth $31,000. Finally, Quarry LP increased its holdings in shares of Dutch Bros by 83.5% in the 4th quarter. Quarry LP now owns 600 shares of the company’s stock worth $37,000 after buying an additional 273 shares during the last quarter. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Trading Up 4.5%

Shares of BROS opened at $68.28 on Friday. Dutch Bros Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $74.65. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 106.69, a PEG ratio of 2.21 and a beta of 2.31. The firm has a 50 day moving average price of $61.73 and a 200-day moving average price of $57.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.19 and a current ratio of 1.33.

Dutch Bros (NYSE:BROS) last released its earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $464.41 million for the quarter, compared to analyst estimates of $449.69 million. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. As a group, equities research analysts forecast that Dutch Bros Inc. will post 0.84 earnings per share for the current year.

Insider Buying and Selling at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of Dutch Bros stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $16,451,686.10. Following the transaction, the insider owned 2,410,800 shares in the company, valued at approximately $151,928,616. The trade was a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christine Barone sold 42,031 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $60.13, for a total value of $2,527,324.03. Following the completion of the sale, the chief executive officer directly owned 44,573 shares of the company’s stock, valued at approximately $2,680,174.49. This trade represents a 48.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 4,086,245 shares of company stock worth $243,021,771 over the last three months. Company insiders own 38.90% of the company’s stock.

Wall Street Analyst Weigh In

BROS has been the topic of several research reports. Barclays lowered their price objective on shares of Dutch Bros from $76.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dutch Bros in a research note on Wednesday, May 20th. DA Davidson raised their price target on Dutch Bros from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Piper Sandler lifted their price target on Dutch Bros from $61.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Finally, Freedom Capital upgraded Dutch Bros to a “strong-buy” rating in a report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.50.

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.