Engineers Gate Manager LP Sells 231,332 Shares of Dutch Bros Inc. $BROS

Engineers Gate Manager LP decreased its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 68.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 104,374 shares of the company’s stock after selling 231,332 shares during the period. Engineers Gate Manager LP owned approximately 0.06% of Dutch Bros worth $7,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hyperion Asset Management Ltd purchased a new position in shares of Dutch Bros in the 2nd quarter worth about $42,946,000. 1492 Capital Management LLC bought a new stake in Dutch Bros in the 4th quarter worth approximately $1,192,000. Empowered Funds LLC purchased a new stake in Dutch Bros in the first quarter worth approximately $1,309,000. Independent Financial Group LLC purchased a new stake in Dutch Bros in the first quarter worth approximately $1,164,000. Finally, Stephens Investment Management Group LLC grew its position in Dutch Bros by 9.5% during the first quarter. Stephens Investment Management Group LLC now owns 333,057 shares of the company’s stock valued at $16,873,000 after acquiring an additional 28,776 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Down 3.5%

Shares of NYSE BROS opened at $43.38 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.35 and a debt-to-equity ratio of 0.20. Dutch Bros Inc. has a 52 week low of $43.29 and a 52 week high of $74.02. The firm’s fifty day moving average is $57.21 and its 200 day moving average is $56.33. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 60.26, a PEG ratio of 1.60 and a beta of 2.28.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $550.85 million during the quarter, compared to analysts’ expectations of $525.38 million. Dutch Bros had a net margin of 4.91% and a return on equity of 10.01%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. On average, equities research analysts expect that Dutch Bros Inc. will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BROS shares. Morgan Stanley boosted their price objective on shares of Dutch Bros from $87.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Freedom Capital raised shares of Dutch Bros to a “strong-buy” rating in a research note on Wednesday, July 1st. Robert W. Baird upgraded shares of Dutch Bros to a “strong-buy” rating in a research report on Monday, August 24th. UBS Group reaffirmed a “neutral” rating on shares of Dutch Bros in a research note on Thursday. Finally, Royal Bank Of Canada decreased their price objective on Dutch Bros from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.15.

Insider Activity at Dutch Bros

In other news, Director Todd Penegor acquired 2,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was purchased at an average cost of $51.56 per share, with a total value of $103,120.00. Following the completion of the purchase, the director owned 7,358 shares in the company, valued at approximately $379,378.48. The trade was a 37.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 38.90% of the company’s stock.

Dutch Bros Company Profile

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company has expanded from a single coffee cart into a national chain with locations in more than 20 states.

Dutch Bros’ menu includes specialty espresso-based coffees, cold brew, teas, Dutch Bros Blue Rebel energy drinks, smoothies, lemonades, sodas and other flavored beverages. Its shops emphasize drive-thru convenience, customizable drinks and customer-focused service, with some locations also offering walk-up windows or limited indoor seating.

The company combines company-operated shops with franchised locations, although its growth strategy has increasingly emphasized company-operated stores.