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

Fmr LLC grew its holdings in Dutch Bros Inc. (NYSE:BROS) by 98.1% in the fourth quarter, Holdings Channel reports. The firm owned 6,516,479 shares of the company’s stock after buying an additional 3,227,435 shares during the quarter. Fmr LLC’s holdings in Dutch Bros were worth $341,333,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Amalgamated Bank lifted its position in Dutch Bros by 3.6% during the fourth quarter. Amalgamated Bank now owns 6,268 shares of the company’s stock valued at $328,000 after purchasing an additional 220 shares during the period. Arizona State Retirement System lifted its holdings in shares of Dutch Bros by 0.8% during the 4th quarter. Arizona State Retirement System now owns 33,033 shares of the company’s stock valued at $1,730,000 after buying an additional 260 shares during the period. Level Four Advisory Services LLC boosted its stake in shares of Dutch Bros by 6.1% in the 4th quarter. Level Four Advisory Services LLC now owns 6,793 shares of the company’s stock worth $356,000 after buying an additional 392 shares during the last quarter. Prosperity Wealth Management Inc. grew its holdings in shares of Dutch Bros by 4.8% in the fourth quarter. Prosperity Wealth Management Inc. now owns 9,585 shares of the company’s stock worth $502,000 after acquiring an additional 435 shares during the period. Finally, Independent Advisor Alliance grew its holdings in shares of Dutch Bros by 2.6% in the fourth quarter. Independent Advisor Alliance now owns 18,535 shares of the company’s stock worth $971,000 after acquiring an additional 462 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Performance

NYSE:BROS opened at $57.12 on Friday. The stock has a 50-day moving average price of $67.08 and a 200 day moving average price of $54.38. The company has a current ratio of 1.76, a quick ratio of 1.58 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 stock has a market capitalization of $8.81 billion, a P/E ratio of 168.02, a P/E/G ratio of 4.23 and a beta of 2.71.

Analysts Set New Price Targets

A number of research analysts have weighed in on BROS shares. Barclays raised Dutch Bros from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $38.00 to $70.00 in a report on Tuesday, January 7th. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a research note on Tuesday, December 17th. Baird R W upgraded shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Morgan Stanley assumed coverage on shares of Dutch Bros in a research report on Monday, March 24th. They issued an “overweight” rating and a $82.00 price target on the stock. Finally, Guggenheim boosted their price objective on shares of Dutch Bros from $54.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, March 31st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Dutch Bros currently has an average rating of “Buy” and a consensus price target of $76.29.

Insider Buying and Selling at Dutch Bros

In related news, Chairman Travis Boersma sold 471,718 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $75.91, for a total value of $35,808,113.38. Following the sale, the chairman now directly owns 2,310,834 shares in the company, valued at approximately $175,415,408.94. The trade was a 16.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the 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 transaction, the insider now directly owns 2,310,834 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 2,643,632 shares of company stock valued at $201,509,627 in the last three months. 46.50% of the stock is currently owned by corporate insiders.

About Dutch Bros

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.