SummitTX Capital L.P. Lowers Stake in Dutch Bros Inc. $BROS

SummitTX Capital L.P. reduced its stake in shares of Dutch Bros Inc. (NYSE:BROS) by 86.3% in the first quarter, HoldingsChannel reports. The firm owned 4,234 shares of the company’s stock after selling 26,699 shares during the period. SummitTX Capital L.P.’s holdings in Dutch Bros were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BROS. Alyeska Investment Group L.P. bought a new stake in shares of Dutch Bros in the 4th quarter valued at about $113,880,000. Westfield Capital Management Co. LP purchased a new position in shares of Dutch Bros in the 4th quarter worth approximately $108,948,000. Norges Bank bought a new position in shares of Dutch Bros during the 4th quarter worth approximately $96,951,000. Balyasny Asset Management L.P. raised its stake in shares of Dutch Bros by 196.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,817,201 shares of the company’s stock worth $95,112,000 after acquiring an additional 1,203,338 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in Dutch Bros during the fourth quarter valued at approximately $57,276,000. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Up 0.7%

NYSE:BROS opened at $65.86 on Friday. The company has a market cap of $11.50 billion, a PE ratio of 102.91, a P/E/G ratio of 1.99 and a beta of 2.31. Dutch Bros Inc. has a twelve month low of $44.58 and a twelve month high of $74.65. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $64.41 and its two-hundred day moving average is $57.53.

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

Insider Activity

In related news, major shareholder Dm Individual Aggregator, Llc sold 261,055 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 2,410,800 shares of the company’s stock, valued at $151,928,616. This represents a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 firm’s stock in a transaction on 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 owned 2,410,800 shares of the company’s stock, valued at $151,928,616. This trade represents a 23.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,086,245 shares of company stock valued at $243,021,771 over the last ninety days. 38.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on BROS shares. TD Cowen restated a “buy” rating and issued a $73.00 target price on shares of Dutch Bros in a research note on Wednesday, June 10th. UBS Group reaffirmed a “buy” rating on shares of Dutch Bros in a research report on Tuesday. Stephens started coverage on Dutch Bros in a report on Thursday, July 16th. They set an “overweight” rating and a $80.00 price objective for the company. Barclays lowered their price objective on Dutch Bros from $76.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, KeyCorp boosted their target price on Dutch Bros from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.86.

About Dutch Bros

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.