Norges Bank Purchases New Holdings in Dutch Bros Inc. (NYSE:BROS)

Norges Bank acquired a new stake in shares of Dutch Bros Inc. (NYSE:BROS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 329,633 shares of the company's stock, valued at approximately $17,266,000. Norges Bank owned about 0.21% of Dutch Bros as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BROS. Raymond James Financial Inc. bought a new position in Dutch Bros in the fourth quarter worth approximately $94,478,000. Wellington Management Group LLP raised its holdings in 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 during the period. Concurrent Investment Advisors LLC lifted 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 purchasing an additional 782,164 shares in the last quarter. State Street Corp grew its holdings in Dutch Bros by 34.8% during the third 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 period. Finally, Geode Capital Management LLC increased its position in 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 in the last quarter. Institutional investors own 85.54% of the company's stock.

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Dutch Bros Price Performance

NYSE BROS traded up $0.62 during trading on Friday, hitting $57.61. 2,265,605 shares of the stock traded hands, compared to its average volume of 3,154,639. 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 12-month low of $26.85 and a 12-month high of $86.88. The firm has a 50-day simple moving average of $66.94 and a 200-day simple moving average of $54.55. The company has a market capitalization of $8.88 billion, a P/E ratio of 169.45, a price-to-earnings-growth ratio of 4.23 and a beta of 2.71.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BROS. JPMorgan Chase & Co. lifted their price objective on Dutch Bros from $58.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Bank of America upped their price target on shares of Dutch Bros from $61.00 to $72.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Stifel Nicolaus increased their price objective 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. Morgan Stanley initiated coverage on shares of Dutch Bros in a research note on Monday, March 24th. They set an "overweight" rating and a $82.00 target price on the stock. Finally, Jefferies Financial Group increased their price target on Dutch Bros from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Dutch Bros currently has an average rating of "Buy" and a consensus target price of $76.29.

Insider Activity

In other Dutch Bros news, Chairman Travis Boersma sold 755,551 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $77.73, for a total transaction of $58,728,979.23. Following the sale, the chairman now directly owns 2,903,316 shares of the company's stock, valued at $225,674,752.68. The trade was a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $75.91, for a total value of $13,824,956.93. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 2,643,632 shares of company stock worth $201,509,627. 46.50% of the stock is currently owned by insiders.

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.