Alliancebernstein L.P. Reduces Position in Dutch Bros Inc. (NYSE:BROS)

Alliancebernstein L.P. cut its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,813,446 shares of the company's stock after selling 278,738 shares during the period. Alliancebernstein L.P. owned 1.18% of Dutch Bros worth $94,988,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of Dutch Bros during the 4th quarter worth approximately $94,478,000. Wellington Management Group LLP increased its position in shares of Dutch Bros by 135.7% during the third quarter. Wellington Management Group LLP now owns 1,983,368 shares of the company's stock worth $63,527,000 after purchasing an additional 1,141,913 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Dutch Bros by 317.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company's stock valued at $53,878,000 after purchasing an additional 782,164 shares during the last quarter. State Street Corp boosted its position in shares of Dutch Bros by 34.8% in 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. Finally, Geode Capital Management LLC grew its stake in Dutch Bros by 28.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,773,271 shares of the company's stock worth $56,814,000 after buying an additional 397,754 shares during the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

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Dutch Bros Price Performance

Shares of NYSE:BROS traded up $0.81 during trading on Monday, reaching $52.18. 2,326,385 shares of the company's stock traded hands, compared to its average volume of 3,111,499. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. Dutch Bros Inc. has a fifty-two week low of $26.85 and a fifty-two week high of $86.88. The company has a 50-day simple moving average of $67.75 and a 200-day simple moving average of $53.75. The firm has a market cap of $8.05 billion, a PE ratio of 154.03, a P/E/G ratio of 4.23 and a beta of 2.71.

Analyst Ratings Changes

Several brokerages have weighed in on BROS. Wells Fargo & Company started coverage on Dutch Bros in a report on Wednesday, March 26th. They issued an "overweight" rating and a $80.00 price target for the company. Piper Sandler upped their price target on shares of Dutch Bros from $51.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Barclays upgraded shares of Dutch Bros from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $38.00 to $70.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upped their target price on Dutch Bros from $58.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group increased their price objective on Dutch Bros from $60.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Dutch Bros has an average rating of "Buy" and an average price target of $76.29.

Insider Buying and Selling at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $75.91, for a total transaction of $13,824,956.93. Following the completion of the sale, the insider now owns 2,310,834 shares of the company's stock, valued at $175,415,408.94. The trade was a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Travis Boersma sold 679,996 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the completion of the transaction, the chairman now directly owns 2,640,779 shares in the company, valued at $197,451,045.83. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,643,632 shares of company stock valued at $201,509,627. Company insiders own 46.50% of the company's stock.

Dutch Bros Profile

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.