Jennison Associates LLC Has $18.91 Million Stock Position in Dutch Bros Inc. $BROS

Jennison Associates LLC reduced its position in shares of Dutch Bros Inc. (NYSE:BROS) by 2.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 373,188 shares of the company’s stock after selling 8,879 shares during the quarter. Jennison Associates LLC owned about 0.23% of Dutch Bros worth $18,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BROS. California Public Employees Retirement System boosted its stake in shares of Dutch Bros by 1.1% in the 1st quarter. California Public Employees Retirement System now owns 158,318 shares of the company’s stock valued at $8,020,000 after purchasing an additional 1,753 shares during the last quarter. Independent Financial Group LLC acquired a new position in Dutch Bros in the first quarter valued at approximately $1,164,000. D.A. Davidson & CO. lifted its holdings in Dutch Bros by 0.4% in the first quarter. D.A. Davidson & CO. now owns 57,042 shares of the company’s stock valued at $2,890,000 after buying an additional 211 shares during the period. Twin Capital Management Inc. lifted its holdings in Dutch Bros by 3.8% in the first quarter. Twin Capital Management Inc. now owns 18,506 shares of the company’s stock valued at $938,000 after buying an additional 676 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Dutch Bros by 58.1% in the first quarter. Bank of New York Mellon Corp now owns 1,044,545 shares of the company’s stock valued at $52,917,000 after acquiring an additional 384,011 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 750,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $63.02, for a total value of $47,265,000.00. Following the completion of 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 transaction was disclosed in a legal filing 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 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 completion of the sale, the insider owned 2,410,800 shares of the company’s stock, valued at $151,928,616. This trade represents a 9.77% 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 a total of 4,086,245 shares of company stock worth $243,021,771 in the last quarter. Corporate insiders own 38.90% of the company’s stock.

Dutch Bros Stock Down 0.3%

Shares of NYSE BROS opened at $66.07 on Wednesday. The stock has a market cap of $11.54 billion, a P/E ratio of 103.24, a P/E/G ratio of 2.01 and a beta of 2.31. The firm has a 50 day moving average price of $62.33 and a 200 day moving average price of $57.34. 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 Inc. has a 52-week low of $44.58 and a 52-week high of $74.65.

Dutch Bros (NYSE:BROS) last posted its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, hitting 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 business’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. Analysts expect that Dutch Bros Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Freedom Capital raised shares of Dutch Bros to a “strong-buy” rating in a report on Wednesday, July 1st. KeyCorp increased their price target on Dutch Bros from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating on shares of Dutch Bros in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dutch Bros in a research note on Friday. Finally, Barclays dropped their price objective on Dutch Bros from $76.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dutch Bros presently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

Dutch Bros Company 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.