Dutch Bros Inc. (NYSE:BROS) Stock Position Reduced by M&T Bank Corp

M&T Bank Corp reduced its position in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) by 58.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,633 shares of the company's stock after selling 7,984 shares during the period. M&T Bank Corp's holdings in Dutch Bros were worth $295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Dutch Bros by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 24,586 shares of the company's stock valued at $1,288,000 after acquiring an additional 1,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Dutch Bros by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 692,956 shares of the company's stock worth $36,297,000 after acquiring an additional 5,429 shares during the last quarter. Scratch Capital LLC purchased a new position in Dutch Bros in the fourth quarter worth approximately $1,260,000. SBI Securities Co. Ltd. purchased a new position in Dutch Bros in the fourth quarter worth approximately $53,000. Finally, Jones Financial Companies Lllp lifted its stake in Dutch Bros by 123.9% in the fourth quarter. Jones Financial Companies Lllp now owns 27,290 shares of the company's stock worth $1,429,000 after acquiring an additional 15,100 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BROS has been the subject of several recent analyst reports. Baird R W upgraded shares of Dutch Bros from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Piper Sandler raised their target price on shares of Dutch Bros from $51.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Barclays raised Dutch Bros from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $38.00 to $70.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. upped their price objective on Dutch Bros from $58.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, William Blair reiterated an "outperform" rating on shares of Dutch Bros in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $75.75.

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Insiders Place Their Bets

In related news, Chairman Travis Boersma sold 679,996 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $74.77, for a total value of $50,843,300.92. Following the completion of the transaction, the chairman now owns 2,640,779 shares of the company's stock, valued at approximately $197,451,045.83. This represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $77.73, for a total value of $22,674,385.11. Following the completion of the transaction, the insider now directly owns 2,903,316 shares of the company's stock, valued at $225,674,752.68. This represents a 9.13 % 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 over the last three months. 46.50% of the stock is owned by insiders.

Dutch Bros Trading Up 1.9 %

NYSE:BROS traded up $1.17 on Tuesday, hitting $63.11. 2,497,697 shares of the stock were exchanged, compared to its average volume of 2,961,480. The stock has a market cap of $9.73 billion, a PE ratio of 185.62, a PEG ratio of 4.23 and a beta of 2.65. 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 stock has a fifty day moving average of $66.37 and a 200-day moving average of $50.69. Dutch Bros Inc. has a fifty-two week low of $26.85 and a fifty-two week high of $86.88.

Dutch Bros Company 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.