Dutch Bros Inc. (NYSE:BROS) Position Increased by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. raised its position in shares of Dutch Bros Inc. (NYSE:BROS) by 4.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,585 shares of the company’s stock after buying an additional 435 shares during the period. Prosperity Wealth Management Inc.’s holdings in Dutch Bros were worth $502,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new stake in shares of Dutch Bros in the third quarter worth approximately $224,461,000. Wasatch Advisors LP lifted its position in shares of Dutch Bros by 232.1% in the third quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company’s stock worth $132,229,000 after purchasing an additional 2,885,306 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Dutch Bros in the fourth quarter worth approximately $94,478,000. Wellington Management Group LLP lifted its position in shares of Dutch Bros by 135.7% in the third quarter. Wellington Management Group LLP now owns 1,983,368 shares of the company’s stock worth $63,527,000 after purchasing an additional 1,141,913 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in shares of Dutch Bros by 317.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company’s stock worth $53,878,000 after purchasing an additional 782,164 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 679,996 shares of Dutch Bros stock in a transaction on Monday, February 24th. The shares were sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the sale, the chairman now owns 2,640,779 shares in the company, valued at $197,451,045.83. The trade was a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of Dutch Bros stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $75.91, for a total transaction of $13,824,956.93. Following the sale, the insider now owns 2,310,834 shares in the company, valued at $175,415,408.94. This represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,643,632 shares of company stock worth $201,509,627. Insiders own 46.50% of the company’s stock.

Dutch Bros Trading Up 3.1 %

Shares of Dutch Bros stock opened at $60.23 on Wednesday. The company’s fifty day simple moving average is $65.75 and its 200-day simple moving average is $49.63. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 177.16, a PEG ratio of 4.23 and a beta of 2.65. 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 1 year low of $26.85 and a 1 year high of $86.88.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Dutch Bros from $58.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wedbush raised their price objective on shares of Dutch Bros from $65.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. TD Securities raised their price objective on shares of Dutch Bros from $65.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group raised their price objective on shares of Dutch Bros from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Barclays raised shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $70.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $75.75.

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.