SummitTX Capital L.P. Sells 26,699 Shares of Dutch Bros Inc. $BROS

SummitTX Capital L.P. lessened its position in shares of Dutch Bros Inc. (NYSE:BROS) by 86.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,234 shares of the company’s stock after selling 26,699 shares during the quarter. SummitTX Capital L.P.’s holdings in Dutch Bros were worth $214,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new position in shares of Dutch Bros during the 4th quarter valued at approximately $113,880,000. Westfield Capital Management Co. LP bought a new stake in Dutch Bros in the fourth quarter worth $108,948,000. Norges Bank bought a new stake in Dutch Bros in the fourth quarter worth $96,951,000. Balyasny Asset Management L.P. increased its position in Dutch Bros by 196.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,817,201 shares of the company’s stock worth $95,112,000 after purchasing an additional 1,203,338 shares during the last quarter. Finally, Interval Partners LP purchased a new stake in Dutch Bros during the fourth quarter valued at $57,276,000. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Performance

NYSE:BROS opened at $65.86 on Friday. The firm has a market capitalization of $11.50 billion, a PE ratio of 102.91, a PEG ratio of 1.99 and a beta of 2.31. The stock’s fifty day moving average is $64.41 and its 200 day moving average is $57.53. Dutch Bros Inc. has a fifty-two week low of $44.58 and a fifty-two week high of $74.65. 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 posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Dutch Bros had a net margin of 4.61% and a return on equity of 9.42%. The company had revenue of $464.41 million during the quarter, compared to analyst estimates of $449.69 million. During the same period in the previous year, the firm earned $0.14 earnings per share. Dutch Bros’s quarterly revenue was up 30.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Dutch Bros Inc. will post 0.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BROS shares. Morgan Stanley increased their price objective on shares of Dutch Bros from $87.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. TD Cowen restated a “buy” rating and issued a $73.00 target price on shares of Dutch Bros in a report on Wednesday, June 10th. Citigroup upped their target price on shares of Dutch Bros from $84.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Stephens began coverage on shares of Dutch Bros in a report on Thursday, July 16th. They issued an “overweight” rating and a $80.00 price target for the company. Finally, DA Davidson lifted their price target on Dutch Bros from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Dutch Bros has an average rating of “Moderate Buy” and a consensus price target of $77.86.

Insider Transactions at Dutch Bros

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

Dutch Bros Profile

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.