Cannon Global Investment Management LLC Purchases 9,800 Shares of Dutch Bros Inc. (NYSE:BROS)

Cannon Global Investment Management LLC raised its stake in Dutch Bros Inc. (NYSE:BROS) by 65.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,800 shares of the company’s stock after buying an additional 9,800 shares during the quarter. Dutch Bros accounts for about 2.2% of Cannon Global Investment Management LLC’s portfolio, making the stock its 10th largest position. Cannon Global Investment Management LLC’s holdings in Dutch Bros were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Dutch Bros by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 4,750,468 shares of the company’s stock worth $150,447,000 after acquiring an additional 135,918 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Dutch Bros by 191.7% in the third quarter. American Century Companies Inc. now owns 1,177,148 shares of the company’s stock worth $27,369,000 after acquiring an additional 773,616 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Dutch Bros in the third quarter worth about $11,549,000. Fenimore Asset Management Inc. bought a new position in shares of Dutch Bros during the fourth quarter worth about $13,610,000. Finally, LPL Financial LLC grew its holdings in shares of Dutch Bros by 3.2% during the third quarter. LPL Financial LLC now owns 359,369 shares of the company’s stock worth $8,355,000 after buying an additional 11,139 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BROS shares. Wedbush increased their price objective on Dutch Bros from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Bank of America increased their price objective on Dutch Bros from $44.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, June 10th. TD Cowen increased their price objective on Dutch Bros from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Guggenheim reiterated a “neutral” rating and set a $30.00 price objective on shares of Dutch Bros in a report on Friday, April 5th. Finally, Barclays increased their price objective on Dutch Bros from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.30.

Insider Activity

In other news, Chairman Travis Boersma sold 334,069 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $36.85, for a total value of $12,310,442.65. Following the completion of the sale, the chairman now directly owns 871,764 shares of the company’s stock, valued at $32,124,503.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Travis Boersma sold 334,069 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $36.85, for a total value of $12,310,442.65. Following the completion of the sale, the chairman now directly owns 871,764 shares in the company, valued at approximately $32,124,503.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dm Trust Aggregator, Llc sold 166,594 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $36.85, for a total value of $6,138,988.90. Following the completion of the sale, the insider now owns 1,616,308 shares of the company’s stock, valued at $59,560,949.80. The disclosure for this sale can be found here. Insiders sold a total of 1,228,068 shares of company stock valued at $44,765,154 over the last three months. Insiders own 46.50% of the company’s stock.

Dutch Bros Stock Down 1.7 %

BROS stock traded down $0.70 during mid-day trading on Friday, reaching $41.40. The company had a trading volume of 9,237,751 shares, compared to its average volume of 3,181,045. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.29 and a quick ratio of 1.98. The stock has a 50 day simple moving average of $35.17 and a two-hundred day simple moving average of $31.83. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 230.01, a PEG ratio of 6.36 and a beta of 2.50. Dutch Bros Inc. has a 52 week low of $22.67 and a 52 week high of $42.87.

Dutch Bros (NYSE:BROS) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter. Dutch Bros had a return on equity of 1.99% and a net margin of 1.21%. The company had revenue of $275.10 million during the quarter, compared to analysts’ expectations of $255.71 million. As a group, equities analysts predict that Dutch Bros Inc. will post 0.29 earnings per share for the current fiscal year.

Dutch Bros Company Profile

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.