Riverbridge Partners LLC Sells 77,751 Shares of Dutch Bros Inc. $BROS

Riverbridge Partners LLC lowered its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 20.3% in the 4th quarter, HoldingsChannel reports. The firm owned 305,106 shares of the company’s stock after selling 77,751 shares during the period. Riverbridge Partners LLC’s holdings in Dutch Bros were worth $18,679,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Dutch Bros by 56.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 109,530 shares of the company’s stock worth $5,733,000 after buying an additional 39,561 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Dutch Bros by 31.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 204,705 shares of the company’s stock valued at $10,714,000 after acquiring an additional 49,194 shares in the last quarter. Thornburg Investment Management Inc. increased its stake in shares of Dutch Bros by 143.9% in the 3rd quarter. Thornburg Investment Management Inc. now owns 77,711 shares of the company’s stock valued at $4,067,000 after acquiring an additional 45,847 shares in the last quarter. Savoir Faire Capital Management L.P. lifted its position in shares of Dutch Bros by 29.9% during the 3rd quarter. Savoir Faire Capital Management L.P. now owns 112,783 shares of the company’s stock valued at $5,903,000 after acquiring an additional 25,935 shares during the period. Finally, Magnetar Financial LLC boosted its stake in Dutch Bros by 107.2% during the third quarter. Magnetar Financial LLC now owns 140,590 shares of the company’s stock worth $7,358,000 after acquiring an additional 72,751 shares in the last quarter. 85.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on BROS. The Goldman Sachs Group raised shares of Dutch Bros from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Monday, March 2nd. Mizuho increased their price objective on shares of Dutch Bros from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of Dutch Bros in a research note on Wednesday, January 21st. Sanford C. Bernstein reaffirmed an “overweight” rating and issued a $76.00 target price on shares of Dutch Bros in a research report on Wednesday, January 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $85.00 price target on shares of Dutch Bros in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.73.

Dutch Bros Stock Performance

Shares of BROS stock opened at $47.97 on Friday. The firm has a market capitalization of $7.89 billion, a PE ratio of 74.95, a price-to-earnings-growth ratio of 1.86 and a beta of 2.54. The firm has a fifty day simple moving average of $53.72 and a two-hundred day simple moving average of $56.42. The company has a current ratio of 1.49, a quick ratio of 1.28 and a debt-to-equity ratio of 0.22. Dutch Bros Inc. has a 12 month low of $46.52 and a 12 month high of $77.88.

Dutch Bros (NYSE:BROS) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.07. Dutch Bros had a net margin of 4.87% and a return on equity of 9.56%. The firm had revenue of $443.61 million for the quarter, compared to the consensus estimate of $424.44 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The business’s revenue was up 29.4% on a year-over-year basis. Analysts forecast that Dutch Bros Inc. will post 0.57 EPS for the current fiscal year.

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.