Bank of Nova Scotia Invests $3.85 Million in Dutch Bros Inc. (NYSE:BROS)

Bank of Nova Scotia bought a new stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 73,449 shares of the company's stock, valued at approximately $3,847,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BROS. FIL Ltd bought a new stake in shares of Dutch Bros in the 4th quarter valued at approximately $176,298,000. FMR LLC raised its stake in Dutch Bros by 98.1% during the fourth quarter. FMR LLC now owns 6,516,479 shares of the company's stock worth $341,333,000 after acquiring an additional 3,227,435 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Dutch Bros in the 4th quarter valued at $94,478,000. Concurrent Investment Advisors LLC grew its holdings in shares of Dutch Bros by 317.4% in the 4th quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company's stock worth $53,878,000 after purchasing an additional 782,164 shares during the last quarter. Finally, State Street Corp increased its position in shares of Dutch Bros by 34.8% during the 3rd quarter. State Street Corp now owns 1,734,646 shares of the company's stock worth $55,561,000 after purchasing an additional 447,456 shares in the last quarter. Institutional investors own 85.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BROS shares. TD Securities reiterated a "buy" rating and issued a $89.00 target price on shares of Dutch Bros in a research note on Friday, March 28th. Baird R W upgraded Dutch Bros from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. UBS Group increased their price objective on shares of Dutch Bros from $67.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of Dutch Bros in a research note on Monday, March 31st. Finally, Guggenheim raised their price target on shares of Dutch Bros from $54.00 to $72.00 and gave the company a "buy" rating in a report on Monday, March 31st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $76.14.

Insider Buying and Selling at Dutch Bros

In other news, Chairman Travis Boersma sold 755,551 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $77.73, for a total transaction of $58,728,979.23. Following the sale, the chairman now owns 2,903,316 shares of the company's stock, valued at $225,674,752.68. This trade represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $74.77, for a total value of $19,629,891.49. Following the completion of the transaction, the insider now owns 2,640,779 shares of the company's stock, valued at $197,451,045.83. This represents a 9.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,643,632 shares of company stock valued at $201,509,627. Corporate insiders own 46.50% of the company's stock.

Dutch Bros Trading Up 0.9 %

Shares of Dutch Bros stock traded up $0.51 during trading on Friday, hitting $58.26. 1,473,772 shares of the company were exchanged, compared to its average volume of 3,154,600. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.58. The firm has a market capitalization of $8.98 billion, a P/E ratio of 171.36, a price-to-earnings-growth ratio of 4.23 and a beta of 2.71. The firm's fifty day moving average price is $66.25 and its 200 day moving average price is $55.10. Dutch Bros Inc. has a 1-year low of $26.85 and a 1-year high of $86.88.

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.