Dynamic Technology Lab Private Ltd lessened its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 79.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,427 shares of the company's stock after selling 44,339 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Dutch Bros were worth $599,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Dutch Bros in the fourth quarter valued at approximately $94,478,000. Wellington Management Group LLP boosted its holdings in shares of Dutch Bros by 135.7% in the 3rd 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 grew its position in Dutch Bros by 317.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company's stock valued at $53,878,000 after acquiring an additional 782,164 shares during the last quarter. State Street Corp grew its holdings 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 valued at $55,561,000 after purchasing an additional 447,456 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Dutch Bros by 28.9% in the third 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 period. 85.54% of the stock is currently owned by institutional investors.
Dutch Bros Stock Up 1.1 %
Shares of BROS traded up $0.62 during midday trading on Friday, reaching $57.61. 2,265,605 shares of the stock were exchanged, compared to its average volume of 3,161,359. Dutch Bros Inc. has a 52 week low of $26.85 and a 52 week high of $86.88. The company has a current ratio of 1.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $8.88 billion, a P/E ratio of 169.45, a PEG ratio of 4.23 and a beta of 2.71. The company's 50 day moving average is $66.94 and its two-hundred day moving average is $54.70.
Insider Activity at Dutch Bros
In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 291,707 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 value of $22,674,385.11. Following the completion of the sale, the insider now owns 2,903,316 shares of the company's stock, valued at approximately $225,674,752.68. This trade represents a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 679,996 shares of Dutch Bros stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the completion of the sale, the chairman now owns 2,640,779 shares of the company's stock, valued at $197,451,045.83. This trade represents a 20.48 % 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 over the last ninety days. 46.50% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on BROS. Piper Sandler boosted their price objective on shares of Dutch Bros from $51.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Baird R W upgraded shares of Dutch Bros from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Stifel Nicolaus upped their price target on shares of Dutch Bros from $74.00 to $85.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. TD Securities reiterated a "buy" rating and set a $89.00 target price on shares of Dutch Bros in a research note on Friday, March 28th. Finally, Morgan Stanley began coverage on shares of Dutch Bros in a research note on Monday, March 24th. They issued an "overweight" rating and a $82.00 price target for the company. One investment 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 company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $76.29.
Check Out Our Latest Research Report on BROS
About Dutch Bros
(
Free Report)
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.
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