Envestnet Asset Management Inc. Grows Stock Position in Dutch Bros Inc. (NYSE:BROS)

Envestnet Asset Management Inc. grew its holdings in Dutch Bros Inc. (NYSE:BROS - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 126,116 shares of the company's stock after acquiring an additional 7,203 shares during the quarter. Envestnet Asset Management Inc. owned about 0.08% of Dutch Bros worth $6,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Dutch Bros during the fourth quarter worth about $94,478,000. Concurrent Investment Advisors LLC grew its stake in Dutch Bros by 317.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company's stock worth $53,878,000 after buying an additional 782,164 shares during the last quarter. Geode Capital Management LLC increased its position in Dutch Bros by 28.9% during 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. Norges Bank purchased a new stake in Dutch Bros in the fourth quarter valued at approximately $17,266,000. Finally, Amundi boosted its holdings in shares of Dutch Bros by 21,821.0% in the fourth quarter. Amundi now owns 226,005 shares of the company's stock valued at $12,701,000 after acquiring an additional 224,974 shares during the period. Institutional investors and hedge funds own 85.54% of the company's stock.

Dutch Bros Price Performance

NYSE:BROS traded up $1.13 during mid-day trading on Friday, hitting $62.64. 582,268 shares of the company's stock traded hands, compared to its average volume of 3,152,895. 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 $9.66 billion, a PE ratio of 184.45, a price-to-earnings-growth ratio of 4.23 and a beta of 2.71. The firm's 50 day simple moving average is $64.65 and its 200 day simple moving average is $56.04. Dutch Bros Inc. has a 1 year low of $26.85 and a 1 year high of $86.88.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird cut their target price on shares of Dutch Bros from $80.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, April 7th. Piper Sandler upped their target price on shares of Dutch Bros from $51.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Stifel Nicolaus raised their price target on Dutch Bros from $74.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of Dutch Bros in a research note on Monday, March 31st. Finally, Jefferies Financial Group lifted their target price on Dutch Bros from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $76.57.

Insider Buying and Selling

In other news, 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. The trade was a 9.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Travis Boersma sold 679,996 shares of the company'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 transaction of $50,843,300.92. Following the transaction, the chairman now directly owns 2,640,779 shares in the company, valued at $197,451,045.83. The trade was a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,643,632 shares of company stock worth $201,509,627 in the last ninety days. Insiders own 42.40% 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.