JPMorgan Chase & Co. lowered its holdings in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 67.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,801 shares of the company's stock after selling 246,952 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.08% of Dutch Bros worth $6,380,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of BROS. Raymond James Financial Inc. purchased a new position in Dutch Bros during the fourth quarter worth approximately $94,478,000. Concurrent Investment Advisors LLC lifted its position in shares of Dutch Bros by 317.4% in 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 in the last quarter. State Street Corp lifted its position in shares of Dutch Bros by 34.8% in the third quarter. State Street Corp now owns 1,734,646 shares of the company's stock valued at $55,561,000 after acquiring an additional 447,456 shares in the last quarter. Geode Capital Management LLC lifted its position 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 valued at $56,814,000 after acquiring an additional 397,754 shares in the last quarter. Finally, Amundi lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 85.54% of the company's stock.
Dutch Bros Stock Performance
Shares of BROS traded up $3.00 during mid-day trading on Wednesday, reaching $61.68. 434,729 shares of the company's stock were exchanged, compared to its average volume of 3,151,743. 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 stock has a market capitalization of $9.51 billion, a PE ratio of 181.42, a price-to-earnings-growth ratio of 4.23 and a beta of 2.71. The business's fifty day simple moving average is $65.48 and its 200-day simple moving average is $55.80. Dutch Bros Inc. has a 52-week low of $26.85 and a 52-week high of $86.88.
Insider Transactions at Dutch Bros
In related news, Chairman Travis Boersma sold 679,996 shares of the stock in a transaction 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $74.77, for a total value of $19,629,891.49. Following the sale, the insider now directly owns 2,640,779 shares of the company's stock, valued at approximately $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 ninety days, insiders have sold 2,643,632 shares of company stock worth $201,509,627. Insiders own 42.40% of the company's stock.
Wall Street Analysts Forecast Growth
BROS has been the subject of several recent research reports. Bank of America increased their price target on Dutch Bros from $61.00 to $72.00 and gave the company a "buy" rating in a report on Monday, January 27th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Dutch Bros in a report on Monday, March 31st. Barclays cut their price target on Dutch Bros from $94.00 to $76.00 and set an "overweight" rating for the company in a report on Tuesday. JPMorgan Chase & Co. increased their price target on Dutch Bros from $58.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Guggenheim increased their price target on Dutch Bros from $54.00 to $72.00 and gave the company a "buy" rating in a report on Monday, March 31st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $76.57.
Check Out Our Latest Stock Analysis 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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