M&T Bank Corp Buys New Position in Dutch Bros Inc. (NYSE:BROS)

M&T Bank Corp purchased a new position in shares of Dutch Bros Inc. (NYSE:BROS) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 13,617 shares of the company’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in Dutch Bros by 5.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 99,434 shares of the company’s stock worth $3,185,000 after acquiring an additional 4,778 shares during the period. Pier Capital LLC boosted its holdings in shares of Dutch Bros by 31.5% during the third quarter. Pier Capital LLC now owns 167,698 shares of the company’s stock worth $5,371,000 after purchasing an additional 40,171 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Dutch Bros by 135.7% in the third quarter. Wellington Management Group LLP now owns 1,983,368 shares of the company’s stock valued at $63,527,000 after purchasing an additional 1,141,913 shares during the period. State Street Corp increased its stake in Dutch Bros by 34.8% in the third quarter. State Street Corp now owns 1,734,646 shares of the company’s stock valued at $55,561,000 after purchasing an additional 447,456 shares during the last quarter. Finally, Quarry LP lifted its position in Dutch Bros by 68.0% during the third quarter. Quarry LP now owns 1,740 shares of the company’s stock worth $56,000 after buying an additional 704 shares during the period. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Price Performance

BROS opened at $52.98 on Wednesday. Dutch Bros Inc. has a twelve month low of $25.46 and a twelve month high of $56.10. The firm has a market cap of $8.17 billion, a price-to-earnings ratio of 182.69, a PEG ratio of 3.89 and a beta of 2.72. 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 company has a fifty day simple moving average of $43.68 and a 200 day simple moving average of $38.66.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wedbush upped their price objective on shares of Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Dutch Bros from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a report on Tuesday. Piper Sandler upped their price objective on Dutch Bros from $36.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus lifted their target price on Dutch Bros from $42.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $50.36.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $36.03, for a total transaction of $1,452,837.69. Following the transaction, the insider now owns 125,671 shares of the company’s stock, valued at $4,527,926.13. This trade represents a 24.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Travis Boersma sold 80,720 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $36.03, for a total value of $2,908,341.60. Following the sale, the chairman now directly owns 125,671 shares in the company, valued at approximately $4,527,926.13. This represents a 39.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 560,698 shares of company stock worth $19,040,697 in the last ninety days. 46.50% of the stock is owned by insiders.

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.