Cannon Global Investment Management LLC Sells 18,300 Shares of Dutch Bros Inc. (NYSE:BROS)

Cannon Global Investment Management LLC lowered its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 73.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,500 shares of the company’s stock after selling 18,300 shares during the quarter. Dutch Bros accounts for about 1.2% of Cannon Global Investment Management LLC’s portfolio, making the stock its 28th largest position. Cannon Global Investment Management LLC’s holdings in Dutch Bros were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BROS. Transcendent Capital Group LLC purchased a new stake in shares of Dutch Bros during the 1st quarter valued at about $26,000. RiverPark Advisors LLC bought a new stake in shares of Dutch Bros in the 2nd quarter valued at approximately $165,000. GPS Wealth Strategies Group LLC boosted its holdings in shares of Dutch Bros by 33.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 4,330 shares of the company’s stock worth $179,000 after purchasing an additional 1,080 shares during the period. AdvisorShares Investments LLC bought a new position in shares of Dutch Bros during the 4th quarter valued at approximately $146,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Dutch Bros during the 1st quarter valued at $155,000. 85.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on BROS shares. UBS Group raised shares of Dutch Bros from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Dutch Bros from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Robert W. Baird decreased their price objective on shares of Dutch Bros from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $45.00 target price on shares of Dutch Bros in a research note on Thursday, August 8th. Finally, Barclays dropped their price objective on Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.73.

Dutch Bros Trading Up 2.1 %

NYSE:BROS traded up $0.64 during midday trading on Wednesday, hitting $31.46. The stock had a trading volume of 570,201 shares, compared to its average volume of 2,745,821. The stock has a 50-day moving average of $36.43 and a 200 day moving average of $34.32. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 171.39, a PEG ratio of 2.54 and a beta of 2.53. Dutch Bros Inc. has a one year low of $22.67 and a one year high of $43.49. The company has a quick ratio of 1.88, a current ratio of 2.19 and a debt-to-equity ratio of 0.82.

Dutch Bros (NYSE:BROS) last issued its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $324.92 million during the quarter, compared to analysts’ expectations of $317.39 million. Dutch Bros had a return on equity of 3.99% and a net margin of 1.95%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 EPS. As a group, sell-side analysts forecast that Dutch Bros Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 426,891 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the sale, the chairman now owns 467,228 shares in the company, valued at approximately $14,759,732.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $31.60, for a total value of $5,287,154.00. Following the completion of the transaction, the insider now directly owns 467,228 shares of the company’s stock, valued at approximately $14,764,404.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Travis Boersma sold 426,891 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the sale, the chairman now owns 467,228 shares of the company’s stock, valued at $14,759,732.52. The disclosure for this sale can be found here. Insiders have sold a total of 624,116 shares of company stock worth $19,730,335 in the last three months. Corporate insiders own 46.50% of the company’s stock.

About Dutch Bros

Dutch Bros Inc, together with its subsidiaries, operates and franchises drive-thru shops in the United States. The company operates through Company-Operated Shops and Franchising and Other segments. It serves through company-operated shops and online channels under Dutch Bros; Dutch Bros Coffee; Dutch Bros Rebel; Dutch Bros; and Blue Rebel brands.