Cannon Global Investment Management LLC Invests $475,000 in Dutch Bros Inc. (NYSE:BROS)

Cannon Global Investment Management LLC purchased a new position in shares of Dutch Bros Inc. (NYSE:BROS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,000 shares of the company’s stock, valued at approximately $475,000. Dutch Bros comprises approximately 3.6% of Cannon Global Investment Management LLC’s holdings, making the stock its 9th biggest holding.

Other large investors also recently modified their holdings of the company. FMR LLC raised its stake in shares of Dutch Bros by 42.9% in the third quarter. FMR LLC now owns 8,581,751 shares of the company’s stock valued at $199,526,000 after purchasing an additional 2,578,145 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Dutch Bros by 32.1% in the third quarter. Vanguard Group Inc. now owns 4,614,550 shares of the company’s stock valued at $107,288,000 after purchasing an additional 1,120,908 shares in the last quarter. American Century Companies Inc. raised its stake 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 valued at $27,369,000 after purchasing an additional 773,616 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Dutch Bros by 5.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,024,255 shares of the company’s stock valued at $32,418,000 after purchasing an additional 49,097 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Dutch Bros by 33.3% in the first quarter. Federated Hermes Inc. now owns 800,000 shares of the company’s stock valued at $44,216,000 after purchasing an additional 200,000 shares in the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Dutch Bros Stock Down 0.6 %

Shares of NYSE BROS traded down $0.19 during mid-day trading on Friday, reaching $29.98. 465,460 shares of the company’s stock were exchanged, compared to its average volume of 1,947,102. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 1,005.33 and a beta of 2.41. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $31.06 and a 200 day simple moving average of $28.79. Dutch Bros Inc. has a twelve month low of $22.67 and a twelve month high of $36.17.

Dutch Bros (NYSE:BROS) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Dutch Bros had a negative return on equity of 0.54% and a net margin of 0.18%. The company had revenue of $254.12 million for the quarter, compared to analyst estimates of $254.80 million. As a group, equities analysts expect that Dutch Bros Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at Dutch Bros

In related news, major shareholder Dm Individual Aggregator, Llc sold 202,503 shares of Dutch Bros stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $28.06, for a total value of $5,682,234.18. Following the sale, the insider now owns 1,378,683 shares of the company’s stock, valued at approximately $38,685,844.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Dutch Bros news, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $33.88, for a total value of $271,040,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 202,503 shares of Dutch Bros stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $28.06, for a total value of $5,682,234.18. Following the transaction, the insider now owns 1,378,683 shares of the company’s stock, valued at $38,685,844.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,907,188 shares of company stock valued at $561,438,392. 46.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BROS. Wedbush reiterated an “outperform” rating and set a $37.00 price objective on shares of Dutch Bros in a research note on Wednesday, April 10th. TD Cowen reiterated a “hold” rating and issued a $33.00 price target on shares of Dutch Bros in a report on Wednesday, April 10th. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a report on Thursday, February 22nd. JPMorgan Chase & Co. increased their target price on Dutch Bros from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, Barclays cut their target price on Dutch Bros from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.44.

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.