Cannon Global Investment Management LLC Has $269,000 Stock Position in Dutch Bros Inc. (NYSE:BROS)

Cannon Global Investment Management LLC lessened its stake in shares of Dutch Bros Inc. (NYSE:BROS) by 73.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,500 shares of the company’s stock after selling 18,300 shares during the quarter. Dutch Bros comprises 1.2% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 28th biggest holding. Cannon Global Investment Management LLC’s holdings in Dutch Bros were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in BROS. Transcendent Capital Group LLC bought a new position in shares of Dutch Bros in the first quarter valued at $26,000. RiverPark Advisors LLC acquired a new position in Dutch Bros during the 2nd quarter valued at about $165,000. GPS Wealth Strategies Group LLC increased its holdings in Dutch Bros by 33.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 4,330 shares of the company’s stock worth $179,000 after purchasing an additional 1,080 shares in the last quarter. AdvisorShares Investments LLC purchased a new stake in shares of Dutch Bros in the fourth quarter worth approximately $146,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Dutch Bros in the first quarter valued at approximately $155,000. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of Dutch Bros stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $32.02, for a total transaction of $919,294.20. Following the completion of the transaction, the insider now owns 432,518 shares of the company’s stock, valued at approximately $13,849,226.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Dutch Bros news, Chairman Travis Boersma sold 800 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $32.00, for a total value of $25,600.00. Following the transaction, the chairman now directly owns 466,828 shares in the company, valued at approximately $14,938,496. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.02, for a total value of $919,294.20. Following the completion of the sale, the insider now directly owns 432,518 shares in the company, valued at approximately $13,849,226.36. The disclosure for this sale can be found here. Insiders have sold a total of 624,116 shares of company stock worth $19,730,335 over the last 90 days. Corporate insiders own 46.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on BROS shares. Guggenheim raised Dutch Bros from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Piper Sandler lowered shares of Dutch Bros from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $41.00 to $36.00 in a research report on Monday, August 19th. UBS Group raised shares of Dutch Bros from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, August 15th. TD Cowen cut their target price on Dutch Bros from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Dutch Bros in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.73.

Dutch Bros Stock Performance

Dutch Bros stock traded up $0.64 during midday trading on Wednesday, reaching $31.46. The stock had a trading volume of 570,201 shares, compared to its average volume of 2,745,821. The firm has a market capitalization of $5.57 billion, a PE ratio of 171.39, a P/E/G ratio of 2.54 and a beta of 2.53. Dutch Bros Inc. has a 12 month low of $22.67 and a 12 month high of $43.49. The company has a quick ratio of 1.88, a current ratio of 2.19 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average price is $36.43 and its 200 day moving average price is $34.32.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $324.92 million for the quarter, compared to analyst estimates of $317.39 million. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share. As a group, research analysts predict that Dutch Bros Inc. will post 0.32 earnings per share for the current fiscal year.

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.