Dutch Bros Inc. (NYSE:BROS) Position Lessened by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 56.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,700 shares of the company's stock after selling 223,500 shares during the period. Canada Pension Plan Investment Board owned 0.11% of Dutch Bros worth $9,098,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BROS. R Squared Ltd acquired a new stake in Dutch Bros in the 4th quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new position in shares of Dutch Bros during the fourth quarter valued at $41,000. Bernard Wealth Management Corp. acquired a new position in shares of Dutch Bros during the fourth quarter valued at $43,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Dutch Bros during the third quarter valued at about $50,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Dutch Bros in the fourth quarter worth about $53,000. 85.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dutch Bros

In other news, Chairman Travis Boersma sold 755,551 shares of Dutch Bros stock in a transaction on 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 transaction, the chairman now owns 2,903,316 shares in the company, valued at approximately $225,674,752.68. The trade was a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $77.73, for a total value of $22,674,385.11. Following the completion of the sale, the insider now directly owns 2,903,316 shares of the company's stock, valued at approximately $225,674,752.68. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,643,632 shares of company stock valued at $201,509,627 in the last three months. 42.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on BROS. JPMorgan Chase & Co. raised their target price on shares of Dutch Bros from $58.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Stifel Nicolaus raised their price objective on shares of Dutch Bros from $74.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Morgan Stanley set a $80.00 price target on Dutch Bros and gave the company an "overweight" rating in a research note on Monday, April 14th. Wells Fargo & Company initiated coverage on Dutch Bros in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $80.00 price objective on the stock. Finally, Robert W. Baird decreased their target price on Dutch Bros from $80.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Dutch Bros has an average rating of "Buy" and an average price target of $76.57.

Dutch Bros Trading Up 3.2 %

Shares of NYSE:BROS traded up $1.94 during mid-day trading on Friday, hitting $63.45. The stock had a trading volume of 1,705,305 shares, compared to its average volume of 3,157,213. The company's 50 day moving average is $64.65 and its 200-day moving average is $56.04. Dutch Bros Inc. has a 12-month low of $26.85 and a 12-month high of $86.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. The company has a market cap of $9.78 billion, a PE ratio of 186.62, a P/E/G ratio of 4.23 and a beta of 2.71.

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.