Accredited Investors Inc. Buys New Shares in Dutch Bros Inc. (NYSE:BROS)

Accredited Investors Inc. purchased a new position in shares of Dutch Bros Inc. (NYSE:BROS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,947 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds also recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its holdings in shares of Dutch Bros by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 48,050 shares of the company’s stock worth $2,517,000 after purchasing an additional 310 shares during the period. Neuberger Berman Group LLC raised its holdings in Dutch Bros by 5.1% in the fourth quarter. Neuberger Berman Group LLC now owns 56,988 shares of the company’s stock valued at $2,985,000 after buying an additional 2,758 shares during the period. Greenland Capital Management LP acquired a new position in Dutch Bros during the fourth quarter valued at approximately $1,310,000. Bernard Wealth Management Corp. purchased a new stake in Dutch Bros during the fourth quarter worth approximately $43,000. Finally, Renaissance Technologies LLC increased its position in shares of Dutch Bros by 18.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,425,100 shares of the company’s stock worth $74,647,000 after acquiring an additional 225,300 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.

Analysts Set New Price Targets

BROS has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Dutch Bros from $58.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Robert W. Baird reduced their price objective on Dutch Bros from $80.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday. Bank of America raised their target price on Dutch Bros from $61.00 to $72.00 and gave the company a “buy” rating in a report on Monday, January 27th. Jefferies Financial Group upped their price target on Dutch Bros from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Barclays upgraded shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $38.00 to $70.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $76.29.

Insiders Place Their Bets

In other news, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the 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 owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. This represents a 9.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Travis Boersma sold 755,551 shares of Dutch Bros stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $77.73, for a total transaction of $58,728,979.23. Following the sale, the chairman now owns 2,903,316 shares in the company, valued at approximately $225,674,752.68. This represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,643,632 shares of company stock valued at $201,509,627 over the last three months. Company insiders own 46.50% of the company’s stock.

Dutch Bros Trading Down 5.4 %

Shares of NYSE BROS opened at $57.12 on Friday. Dutch Bros Inc. has a 12-month low of $26.85 and a 12-month high of $86.88. 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 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’s 50 day simple moving average is $67.08 and its 200 day simple moving average is $54.38.

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.