Latest news with #Wasatch
Daily Mail
07-05-2025
- Business
- Daily Mail
BREAKING NEWS Utah NHL franchise finally reveals its new name: The Mammoth
Utah 's NHL team has finally revealed its new name. The team formerly known as the Utah Hockey Club and the Arizona Coyotes will henceforth be referred to as the Utah Mammoth. The move had been expected after some recent clues surfaced online. Owners Ryan and Ashley Smith unveiled the franchise´s permanent name Thursday morning after nearly a year of fan input and voting. 'From Day 1, we committed that this team would be built with and for the people of Utah, and we are excited to celebrate today´s launch with the entire state,' they said in a statement announcing the name. 'The community chose the Utah Mammoth brand, and it stands as a symbol of who we are, where we came from and the unstoppable force we´re building together.' Mammoth replaces the inaugural season placeholder name Utah Hockey Club, which was also one of the three finalists. Yeti was taken out of consideration when the cooler company bearing that name could not come to a copyright agreement with Utah ownership, and Wasatch - a reference to the state's mountain range - was quickly replaced as an option by Outlaws. The Mammoth are maintaining the same black, light blue and white color scheme and the road jerseys with UTAH diagonally down the front. Utah has an exciting summer ahead holding the fourth pick in the draft, the first phase of arena renovations taking place and more than $20 million in salary cap space for general manager Bill Armstrong to make a splash in free agency and trades.
Yahoo
21-04-2025
- Business
- Yahoo
Solid Fundamentals Boosted Dutch Bros. (BROS) in Q1
Wasatch Global Investors, an asset management company, released its 'Wasatch Small Cap Growth Strategy' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. stocks fell in the quarter as investors considered the potential economic effects of tariffs and government funding cuts. Softer economic data also impacted stocks. The Russell 2000® Growth index ended the quarter with a loss of -11.12%. Additionally, the Wasatch Small Cap Growth strategy declined and lagged the benchmark. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Wasatch Small Cap Growth Strategy highlighted stocks such as Dutch Bros Inc. (NYSE:BROS). Dutch Bros Inc. (NYSE:BROS) operates and franchises drive-thru shops. The one-month return of Dutch Bros Inc. (NYSE:BROS) was -11.02%, and its shares gained 93.14% of their value over the last 52 weeks. On April 17, 2025, Dutch Bros Inc. (NYSE:BROS) stock closed at $58.27 per share with a market capitalization of $9.505 billion. Wasatch Small Cap Growth Strategy stated the following regarding Dutch Bros Inc. (NYSE:BROS) in its Q1 2025 investor letter: "Another large contributor was Dutch Bros Inc. (NYSE:BROS), a drive-through coffee company in the U.S. that serves customizable hot, iced and blended beverages. Strong fundamentals continue to lift the stock higher. In February, the company announced quarterly revenue and earnings growth that exceeded expectations and announced plans to open more than 150 new stores in 2025. While we like the concept of Dutch Bros.' stores, the stock has risen substantially in the short time we owned it, and we trimmed the position after those gains." A closeup of a customer tasting a freshly-made cold brew coffee product from the company's shop. Dutch Bros Inc. (NYSE:BROS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Dutch Bros Inc. (NYSE:BROS) at the end of the fourth quarter which was 37 in the previous quarter. Dutch Bros Inc.'s (NYSE:BROS) fourth quarter revenue was $343 million, an increase of 35% from Q4 2023. While we acknowledge the potential of Dutch Bros Inc. (NYSE:BROS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Dutch Bros Inc. (NYSE:BROS) and shared the list of best coffee stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
21-04-2025
- Business
- Yahoo
Solid Fundamentals Boosted Dutch Bros. (BROS) in Q1
Wasatch Global Investors, an asset management company, released its 'Wasatch Small Cap Growth Strategy' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. stocks fell in the quarter as investors considered the potential economic effects of tariffs and government funding cuts. Softer economic data also impacted stocks. The Russell 2000® Growth index ended the quarter with a loss of -11.12%. Additionally, the Wasatch Small Cap Growth strategy declined and lagged the benchmark. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Wasatch Small Cap Growth Strategy highlighted stocks such as Dutch Bros Inc. (NYSE:BROS). Dutch Bros Inc. (NYSE:BROS) operates and franchises drive-thru shops. The one-month return of Dutch Bros Inc. (NYSE:BROS) was -11.02%, and its shares gained 93.14% of their value over the last 52 weeks. On April 17, 2025, Dutch Bros Inc. (NYSE:BROS) stock closed at $58.27 per share with a market capitalization of $9.505 billion. Wasatch Small Cap Growth Strategy stated the following regarding Dutch Bros Inc. (NYSE:BROS) in its Q1 2025 investor letter: "Another large contributor was Dutch Bros Inc. (NYSE:BROS), a drive-through coffee company in the U.S. that serves customizable hot, iced and blended beverages. Strong fundamentals continue to lift the stock higher. In February, the company announced quarterly revenue and earnings growth that exceeded expectations and announced plans to open more than 150 new stores in 2025. While we like the concept of Dutch Bros.' stores, the stock has risen substantially in the short time we owned it, and we trimmed the position after those gains." A closeup of a customer tasting a freshly-made cold brew coffee product from the company's shop. Dutch Bros Inc. (NYSE:BROS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Dutch Bros Inc. (NYSE:BROS) at the end of the fourth quarter which was 37 in the previous quarter. Dutch Bros Inc.'s (NYSE:BROS) fourth quarter revenue was $343 million, an increase of 35% from Q4 2023. While we acknowledge the potential of Dutch Bros Inc. (NYSE:BROS) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Dutch Bros Inc. (NYSE:BROS) and shared the list of best coffee stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
18-04-2025
- Business
- Yahoo
The Weekly Sip: Monster shuts down craft beer plant amid alcohol woes
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. The Weekly Sip is Food Dive's column focused on the latest news in the rapidly changing and growing beverage sector. From inaugural product lines to big investments and controversial topics, this column aims to quench the thirst for developments in the category. Monster Brewing, the alcohol business owned by energy drink Monster Beverages, said it would close a craft beer production facility in Salt Lake City, Utah, in May, following a decline in sales in the company's alcoholic beverage unit. The facility served as the brewery for Squatters and Wasatch and manufactured the two beer brands' products. Ray LaRue, president of Monster Brewing, said in a statement to The Salt Lake Tribune that the brands will remain under Monster Brewing but will be produced at other locations in the company's supply chain. The brewery closure will result in the loss of 25 jobs. 'We believe in the legacy of Squatters and Wasatch and are committed to maintaining their high-quality standards and each brand's unique identity,' LaRue told the outlet. 'Our Utah-based commercial team will continue to support their success and growth locally.' The news comes one week after Monster co-CEOs Rodney Sacks and Hilton Schlosberg slammed a short seller who claimed the energy drink maker's stock is overvalued. In March, the company told investors it lost $130 million in impairment charges related to its struggling alcohol segment. The company ended its most recent financial quarter with more than $4 million in excess inventory of its alcoholic drinks, The Beast canned cocktails and teas. Sales in the segment declined 0.8% year over year in the quarter, netting $34.9 million. Monster Brewing, formerly Canarchy Brewing, began as a collective of craft brewers before its $330 million purchase by Monster Beverages in 2022. The alcohol company's portfolio also includes Jai Alai IPAs and Dale's American Pale Ale. The formerly sleepy drink mix category is finding new fans amid the craze of reusable water bottles among millennial and Gen Z consumers. Jel Sert, which makes powder mixes like Super C, is tapping a nationally known juice maker to bring some brand recognition to its latest launch. The company announced a collaboration with Jamba Juice on Singles to Go!, allowing consumers to add flavors to their drinks inspired by some of the retailer's most well-known smoothies. The powders arrive in three flavors: Razzmatazz, Strawberries Wild and Mango-A-Go-Go. Jel Sert said the drink sticks, which contain zinc as well as vitamins A, C and E, support immunity and hydration with less additives than similar powder products on the market. Each stick contains 30 calories. 'This collaboration allowed us to showcase our capabilities in flavor innovation, bringing consumers' favorite Jamba flavors to life in a completely new way without using synthetic colors or artificial sweeteners,' said Amy Pagels, senior vice president of marketing at Jel Sert. 'It represents an exciting brand extension for Jamba and a natural next step for Jel Sert as we address the growing consumer demand for convenience, taste, and better-for-you products.' Jel Sert has collaborated with food giants before, releasing flavors in partnership with Starburst and Skittles. The drink stick category is projected to be worth $5 billion worldwide by 2030, according to Nielsen IQ data shared by Jel Sert. Iced tea is a rapidly growing category, with legacy and fledgling brands competing for consumers' caffeine intake. One upstart, co-founded by country singer Morgan Wallen, believes its better-for-you brew has what it takes to attract new fans. Ryl Tea announced it raised $15 million in a Series B funding round, bringing its total funds to $30 million since the brand's 2022 launch. Backers include Wallen, Cam Fordham of Get Engaged Media, Alex Dermer, Ben Hiott, Austin Neal of Sticks Management and Seth England of Big Loud Records. Its teas contain zero sugar, less than five calories per bottle and a 'superblend' of antioxidants. The lineup includes flavors Peach, Southern Sweet, Raspberry, Half & Half and Green Citrus. According to Ryl, the funding will help the brand expand into 40,000 stores nationwide by the end of 2025. It is currently sold at retailers like Walmart, Costco and 7-Eleven. Ryl is also building out its workforce, with aims to surpass 100 employees by December. The company's team is led by two beverage industry veterans. Co-founder and CEO Blodin Ukella previously worked as a data scientist at Bai. Ken Kurtz, the tea maker's president, served as president of Bai and senior vice president of Fiji Water. 'This round isn't just a financial milestone — it's a signal of confidence in our mission, our momentum and our belief that Ryl Tea is on track to redefine what a modern beverage brand can be,' said Ukella in a statement. Recommended Reading SodaStream brews beer category entrance with home 'crafted' beer system Sign in to access your portfolio
Yahoo
18-04-2025
- Business
- Yahoo
Do You Believe in the Growth Prospects of Freshpet (FRPT)?
Wasatch Global Investors, an asset management company, released its 'Wasatch Small Cap Growth Strategy' first-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. stocks fell in the quarter as investors considered the potential economic effects of tariffs and government funding cuts. Softer economic data also impacted stocks. The Russell 2000® Growth index ended the quarter with a loss of -11.12%. Additionally, the Wasatch Small Cap Growth strategy declined and lagged the benchmark. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, Wasatch Small Cap Growth Strategy highlighted stocks such as Freshpet, Inc. (NASDAQ:FRPT). Headquartered in Secaucus, New Jersey, Freshpet, Inc. (NASDAQ:FRPT) produces, markets, and distributes pet foods and treats. The one-month return of Freshpet, Inc. (NASDAQ:FRPT) was -10.24%, and its shares lost 25.30% of their value over the last 52 weeks. On April 17, 2025, Freshpet, Inc. (NASDAQ:FRPT) stock closed at $77.57 per share with a market capitalization of $3.779 billion. Wasatch Small Cap Growth Strategy stated the following regarding Freshpet, Inc. (NASDAQ:FRPT) in its Q1 2025 investor letter: "Another detractor was Freshpet, Inc. (NASDAQ:FRPT), a company that sells fresh, refrigerated meals and treats for dogs and cats. Revenue growth was a little lower than the market expected in Freshpet's most recently reported quarter, but we believe the stock-price reaction was overdone. We spoke with management after the earnings call and have done our own analysis of Freshpet's revenue streams. Based on our own analysis, we believe the company's growth over the next several years will be far more durable than the market expects. Additionally, as the company scales, we believe gross margins will increasingly benefit from more resilient and predictable demand, leading to more efficient manufacturing." A close up of a grocery store shelf with packages of the company's pet food products on it. Freshpet, Inc. (NASDAQ:FRPT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Freshpet, Inc. (NASDAQ:FRPT) at the end of the fourth quarter which was 38 in the previous quarter. While we acknowledge the potential of Freshpet, Inc. (NASDAQ:FRPT) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we covered Freshpet, Inc. (NASDAQ:FRPT) and shared the list of best packaged food stocks to buy. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
