Co-Founder Sells 2.5 million Dutch Bros Coffee Shares for $137 Million

BROS +0.57%

Key Points

• Dutch Bros co-founder and executive chairman Travis Boersma unloaded nearly all of his directly held shares.

• The transactions were planned about a year ago.

• Sale prices ranged from about $53 to $57 per share.

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Travis Boersma, executive chairman of the board, executed open-market sales totaling 2,500,000 shares of Dutch Bros Inc. (NYSE:BROS) over Nov. 24 and Nov.25, 2025. The sales nearly fully divested his direct ownership position; details are available in the SEC Form 4 filing.

Transaction summary

Metric

Value

Shares sold

2,500,000

Transaction value

~$136.9 million

Post-transaction shares

9,817

Post-transaction value (direct ownership)

~$560,000

Key questions

• How does the size of this transaction compare to prior sales by Travis Boersma?The sale of 2,500,000 shares represents the largest single transaction disclosed by Travis Boersma, far exceeding his historical median sale size of 280,518 shares for sell transactions. This event also surpasses his previous maximum, which was 1,712,319 shares on Aug. 22, 2025.

• What proportion of holdings did this disposition represent?The transaction comprised nearly 100% of Boersma's remaining direct ownership in Dutch Bros Inc. Following this filing, his direct share count is 9,817, while his indirect interests are held via DM Trust Aggregator, LLC and DM Individual Aggregator, LLC, as detailed in the filing footnotes.

• What was the market context for this transaction?The weighted average sale price was $54.77 per share, with shares priced at $53.42 at the market open and $57.37 at the close on Nov. 25, 2025. As of that date, the stock had delivered a 9.1% one-year total return. The current price as of Nov. 29, 2025 is $58.61.

• What execution method and trading plan governed these sales?The transaction was completed through multiple open-market trades (16 in total) effected automatically under a Rule 10b5-1 trading plan adopted by DM Trust Aggregator, LLC and DM Individual Aggregator, LLC on Nov. 22, 2024, as disclosed in the Form 4 footnotes.

Company overview

Metric

Value

Revenue (TTM)

$1.54 billion

Net income (TTM)

$94.5 million

Dividend yield

0.00%

1-year price change

9.08%

* 1-year performance calculated using Nov. 29th, 2025 as the reference date.

Company snapshot

Dutch Bros operates and franchises drive-thru coffee shops offering beverages under the Dutch Bros and Blue Rebel brands, with revenue primarily from company-operated shops and franchise royalties.

The company generates income through direct retail sales at company-owned locations and franchise fees, leveraging a fast-service, drive-thru model to maximize transaction volume and customer convenience.

It targets a broad consumer base seeking specialty coffee and energy drinks, with a focus on high-frequency, on-the-go customers across the United States.

Dutch Bros has a national footprint and 18,000 employees. The company’s growth strategy centers on rapid expansion of company-operated shops, supported by a recognizable brand and efficient service model. Dutch Bros differentiates itself through its focus on speed, customer engagement, and a diversified beverage menu, positioning the company competitively in the quick-service restaurant sector.

Foolish take

Co-founder and executive chairman Travis Boersma is still heavily involved in day-to-day operations, according to the company. His share sale shouldn't be an immediate concern for investors or current shareholders. Insider sales can be for many reasons, including personal portfolio maintenance or estate planning. These transactions were pre-planned about a year ago and likely don't reflect Mr. Boersma having concerns with the underlying business.

In fact, Dutch Bros business is flourishing. When the company initially issued guidance for 2025, management predicted revenue would come in between $1.555 billion and $1.575 billion. The company has updated that guidance throughout the year, and now believes sales will  be between about $1.61 billion and $1.615 billion.

The company also plans to continue to grow the business by opening approximately 175 new stores in 2026.

Investors should monitor costs, as labor and coffee costs are critical for the business. So far this year, though, Dutch Bros looks to be navigating a difficult environment rather well with net income per share growing nearly 50% in the first nine months of 2025.

Glossary

Open-market sale: The sale of securities on a public exchange, available to any buyer at prevailing market prices.Direct ownership: Shares held personally by an individual, not through trusts or other entities.Indirect interests: Ownership of shares via entities like trusts or holding companies, rather than held directly.Rule 10b5-1 trading plan: A prearranged plan allowing insiders to sell shares automatically, helping avoid accusations of insider trading.Form 4: A regulatory filing insiders must submit to the SEC when buying or selling company stock.Weighted average sale price: The average price per share, weighted by the number of shares sold at each price.Transaction value: The total dollar amount received from a sale or purchase of securities.Franchise royalties: Ongoing payments franchisees make to a parent company for the right to operate under its brand.Drive-thru model: A business setup where customers order and receive products without leaving their vehicles.Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.TTM: The 12-month period ending with the most recent quarterly report.Dividend yield: The annual dividend payment divided by the current share price, shown as a percentage.

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Howard Smith has no position in any of the stocks mentioned. The Motley Fool recommends Dutch Bros. The Motley Fool has a disclosure policy.

Co-Founder Sells 2.5 million Dutch Bros Coffee Shares for $137 Million was originally published by The Motley Fool