Verition Fund Management LLC Takes Position in Dutch Bros Inc. (NYSE:BROS)

Verition Fund Management LLC bought a new stake in Dutch Bros Inc. (NYSE:BROS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 511,984 shares of the company’s stock, valued at approximately $16,399,000. Verition Fund Management LLC owned approximately 0.33% of Dutch Bros as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of BROS. Baillie Gifford & Co. bought a new stake in shares of Dutch Bros in the 3rd quarter valued at approximately $224,461,000. Renaissance Technologies LLC bought a new stake in Dutch Bros in the second quarter worth $57,435,000. Concurrent Investment Advisors LLC boosted its stake in Dutch Bros by 846.7% during the second quarter. Concurrent Investment Advisors LLC now owns 1,240,399 shares of the company’s stock worth $51,353,000 after buying an additional 1,109,370 shares during the period. Bank of New York Mellon Corp increased its position in Dutch Bros by 8,247.3% during the second quarter. Bank of New York Mellon Corp now owns 1,081,306 shares of the company’s stock valued at $44,766,000 after acquiring an additional 1,068,352 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in Dutch Bros by 58.0% during the third quarter. Eagle Asset Management Inc. now owns 2,020,447 shares of the company’s stock valued at $64,715,000 after acquiring an additional 741,771 shares during the last quarter. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Price Performance

Shares of BROS stock opened at $53.76 on Friday. Dutch Bros Inc. has a twelve month low of $25.46 and a twelve month high of $54.59. The company has a current ratio of 1.90, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $38.70 and a two-hundred day simple moving average of $37.15. The stock has a market capitalization of $8.29 billion, a price-to-earnings ratio of 183.28, a P/E/G ratio of 3.91 and a beta of 2.47.

Dutch Bros (NYSE:BROS) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Dutch Bros had a net margin of 2.54% and a return on equity of 5.48%. The company had revenue of $338.20 million during the quarter, compared to analyst estimates of $324.97 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The firm’s revenue for the quarter was up 27.9% compared to the same quarter last year. On average, analysts predict that Dutch Bros Inc. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $36.03, for a total value of $1,452,837.69. Following the completion of the transaction, the insider now directly owns 125,671 shares of the company’s stock, valued at approximately $4,527,926.13. The trade was a 24.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Dm Trust Aggregator, Llc sold 1,800 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.00, for a total value of $57,600.00. Following the sale, the insider now directly owns 712,819 shares in the company, valued at approximately $22,810,208. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,065,467 shares of company stock valued at $35,434,372. Company insiders own 46.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BROS. Stifel Nicolaus lifted their price target on shares of Dutch Bros from $42.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Robert W. Baird boosted their target price on Dutch Bros from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Barclays increased their price target on Dutch Bros from $31.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Wedbush boosted their price objective on Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Guggenheim upgraded Dutch Bros from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Three research 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 has an average rating of “Moderate Buy” and an average target price of $47.30.

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.