T. Rowe Price Investment Management Inc. lowered its stake in Dutch Bros Inc. (NYSE:BROS - Free Report) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,470,822 shares of the company's stock after selling 534,132 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 1.60% of Dutch Bros worth $129,422,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Dutch Bros in the 3rd quarter valued at $573,000. Raymond James Financial Inc. purchased a new stake in shares of Dutch Bros during the 4th quarter valued at approximately $94,478,000. Clear Creek Financial Management LLC purchased a new stake in shares of Dutch Bros during the 4th quarter valued at approximately $288,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Dutch Bros during the 4th quarter valued at approximately $304,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Dutch Bros by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 885,055 shares of the company's stock valued at $49,785,000 after buying an additional 17,402 shares in the last quarter. Institutional investors own 85.54% of the company's stock.
Dutch Bros Stock Down 1.0 %
Shares of Dutch Bros stock traded down $0.63 during midday trading on Tuesday, hitting $60.89. The company had a trading volume of 2,234,908 shares, compared to its average volume of 3,166,964. The company has a 50 day moving average of $63.75 and a 200 day moving average of $56.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. Dutch Bros Inc. has a 52-week low of $26.85 and a 52-week high of $86.88. The stock has a market capitalization of $9.39 billion, a P/E ratio of 179.09, a P/E/G ratio of 4.23 and a beta of 2.71.
Analyst Upgrades and Downgrades
BROS has been the topic of a number of recent research reports. Piper Sandler upped their price target on shares of Dutch Bros from $51.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Guggenheim increased their target price on shares of Dutch Bros from $54.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Wells Fargo & Company started coverage on shares of Dutch Bros in a research note on Wednesday, March 26th. They issued an "overweight" rating and a $80.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Dutch Bros from $58.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley set a $80.00 target price on shares of Dutch Bros and gave the stock an "overweight" rating in a research note on Monday, April 14th. One research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $76.57.
Read Our Latest Research Report on BROS
Insider Buying and Selling at Dutch Bros
In related news, Chairman Travis Boersma sold 755,551 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $77.73, for a total value of $58,728,979.23. Following the transaction, the chairman now directly owns 2,903,316 shares of the company's stock, valued at approximately $225,674,752.68. This trade represents a 20.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the firm's 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 completion of the transaction, the insider now directly owns 2,640,779 shares in the company, 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. In the last three months, insiders have sold 2,643,632 shares of company stock worth $201,509,627. Insiders own 42.40% of the company's stock.
Dutch Bros Company Profile
(
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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