Fmr LLC Acquires 3,227,435 Shares of Dutch Bros Inc. (NYSE:BROS)

Fmr LLC grew its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 98.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,516,479 shares of the company’s stock after acquiring an additional 3,227,435 shares during the quarter. Fmr LLC owned 4.23% of Dutch Bros worth $341,333,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Dutch Bros in the 3rd quarter valued at about $573,000. Raymond James Financial Inc. bought a new stake in Dutch Bros in the fourth quarter valued at approximately $94,478,000. Clear Creek Financial Management LLC bought a new stake in Dutch Bros in the fourth quarter valued at approximately $288,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Dutch Bros during the fourth quarter valued at approximately $304,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Dutch Bros by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 885,055 shares of the company’s stock worth $49,785,000 after purchasing an additional 17,402 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Travis Boersma sold 755,551 shares of the company’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 value of $58,728,979.23. Following the sale, the chairman now owns 2,903,316 shares in the company, valued at $225,674,752.68. This represents a 20.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the firm’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 transaction, the insider now directly owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. This trade represents a 9.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,643,632 shares of company stock worth $201,509,627 in the last three months. 46.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BROS has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Dutch Bros from $67.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Bank of America increased their target price on shares of Dutch Bros from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Guggenheim raised their target price on Dutch Bros from $54.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Barclays raised Dutch Bros from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $38.00 to $70.00 in a research report on Tuesday, January 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Dutch Bros in a research report on Monday, March 31st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Dutch Bros presently has a consensus rating of “Buy” and an average price target of $76.29.

Dutch Bros Price Performance

BROS opened at $57.12 on Friday. 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 company has a market cap of $8.81 billion, a price-to-earnings ratio of 168.02, a price-to-earnings-growth ratio of 4.23 and a beta of 2.71. The stock has a fifty day simple moving average of $67.08 and a two-hundred day simple moving average of $54.38. Dutch Bros Inc. has a 12-month low of $26.85 and a 12-month 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.