Wedbush Securities Inc. Reduces Position in Dutch Bros Inc. (NYSE:BROS)

Wedbush Securities Inc. decreased its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 27.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,127 shares of the company’s stock after selling 4,239 shares during the period. Wedbush Securities Inc.’s holdings in Dutch Bros were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BROS. R Squared Ltd purchased a new position in Dutch Bros during the fourth quarter valued at approximately $25,000. Fortitude Family Office LLC bought a new stake in shares of Dutch Bros during the 4th quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Dutch Bros during the 4th quarter valued at $53,000. Arcadia Investment Management Corp MI bought a new position in Dutch Bros in the 4th quarter worth $60,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Dutch Bros in the 4th quarter worth $60,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BROS. 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 research note on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Dutch Bros in a report on Monday, March 31st. Bank of America boosted 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. Stifel Nicolaus raised their target price on shares of Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Baird R W upgraded shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Dutch Bros has an average rating of “Buy” and an average price target of $76.29.

Dutch Bros Price Performance

NYSE:BROS opened at $52.57 on Wednesday. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 154.63, a PEG ratio of 4.23 and a beta of 2.71. 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 business has a 50 day simple moving average of $67.30 and a 200-day simple moving average of $53.99. Dutch Bros Inc. has a 1 year low of $26.85 and a 1 year high of $86.88.

Insider Activity at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $74.77, for a total transaction of $19,629,891.49. Following the completion of the transaction, the insider now owns 2,640,779 shares in the company, valued at $197,451,045.83. The trade was a 9.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Travis Boersma sold 679,996 shares of the stock in a transaction that occurred on 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 sale, the chairman now owns 2,640,779 shares in the company, valued at approximately $197,451,045.83. The trade was a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,643,632 shares of company stock worth $201,509,627. Company insiders own 46.50% of the company’s stock.

Dutch Bros 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.