Dutch Bros Inc. $BROS Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its position in shares of Dutch Bros Inc. (NYSE:BROS) by 99.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,018 shares of the company’s stock after selling 520,068 shares during the period. Bank of Nova Scotia’s holdings in Dutch Bros were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Osterweis Capital Management Inc. bought a new position in shares of Dutch Bros in the 2nd quarter worth about $27,000. Brown Lisle Cummings Inc. acquired a new position in shares of Dutch Bros in the 4th quarter valued at about $31,000. Rakuten Securities Inc. grew its position in shares of Dutch Bros by 557.4% during the 2nd quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock valued at $31,000 after buying an additional 379 shares during the last quarter. Ankerstar Wealth LLC acquired a new stake in Dutch Bros during the fourth quarter worth about $31,000. Finally, Quarry LP raised its stake in Dutch Bros by 83.5% during the fourth quarter. Quarry LP now owns 600 shares of the company’s stock worth $37,000 after acquiring an additional 273 shares during the period. Institutional investors and hedge funds own 85.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley lifted their target price on Dutch Bros from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Oppenheimer raised their price target on Dutch Bros from $72.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. DA Davidson boosted their price objective on Dutch Bros from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. TD Cowen restated a “buy” rating and set a $73.00 price objective on shares of Dutch Bros in a research report on Wednesday, June 10th. Finally, UBS Group restated a “buy” rating on shares of Dutch Bros in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Dutch Bros currently has an average rating of “Moderate Buy” and an average target price of $77.86.

Insiders Place Their Bets

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 2,410,800 shares in the company, valued at $151,928,616. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Travis Boersma sold 750,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $63.02, for a total value of $47,265,000.00. Following the transaction, the chairman directly owned 2,410,800 shares of the company’s stock, valued at approximately $151,928,616. The trade was a 23.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,086,245 shares of company stock worth $243,021,771 over the last ninety days. Company insiders own 38.90% of the company’s stock.

Dutch Bros Stock Up 0.7%

Dutch Bros stock opened at $65.86 on Friday. Dutch Bros Inc. has a 52 week low of $44.58 and a 52 week high of $74.65. The stock has a market cap of $11.50 billion, a price-to-earnings ratio of 102.91, a PEG ratio of 1.98 and a beta of 2.31. The company’s 50-day moving average price is $64.41 and its two-hundred day moving average price is $57.53. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21.

Dutch Bros (NYSE:BROS) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $464.41 million during 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 business’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.14 EPS. On average, analysts expect that Dutch Bros Inc. will post 0.84 EPS for the current fiscal year.

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.