Wedbush Securities Inc. Sells 4,239 Shares of Dutch Bros Inc. (NYSE:BROS)

Wedbush Securities Inc. reduced its stake in Dutch Bros Inc. (NYSE:BROS) by 27.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,127 shares of the company’s stock after selling 4,239 shares during the quarter. Wedbush Securities Inc.’s holdings in Dutch Bros were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BROS. Raymond James Financial Inc. purchased a new stake in Dutch Bros in the fourth quarter worth about $94,478,000. Wellington Management Group LLP raised its holdings in shares of Dutch Bros by 135.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,983,368 shares of the company’s stock valued at $63,527,000 after purchasing an additional 1,141,913 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in shares of Dutch Bros by 317.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company’s stock valued at $53,878,000 after purchasing an additional 782,164 shares in the last quarter. State Street Corp increased its holdings in Dutch Bros by 34.8% during the third quarter. State Street Corp now owns 1,734,646 shares of the company’s stock valued at $55,561,000 after buying an additional 447,456 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Dutch Bros by 28.9% during the third quarter. Geode Capital Management LLC now owns 1,773,271 shares of the company’s stock valued at $56,814,000 after buying an additional 397,754 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dutch Bros

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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $74.77, for a total transaction of $19,629,891.49. Following the transaction, the insider now directly owns 2,640,779 shares of the company’s stock, valued at $197,451,045.83. This represents a 9.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,643,632 shares of company stock valued at $201,509,627 in the last ninety days. Company insiders own 46.50% of the company’s stock.

Dutch Bros Trading Down 1.0 %

NYSE BROS opened at $52.57 on Wednesday. Dutch Bros Inc. has a 12-month low of $26.85 and a 12-month high of $86.88. The company has a fifty day simple moving average of $67.30 and a two-hundred day simple moving average of $53.99. 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 has a market cap of $8.11 billion, a P/E ratio of 154.63, a P/E/G ratio of 4.23 and a beta of 2.71.

Analysts Set New Price Targets

Several analysts have issued reports on BROS shares. Robert W. Baird dropped their target price on Dutch Bros from $80.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday. Wells Fargo & Company initiated coverage on Dutch Bros in a research report on Wednesday, March 26th. They set an “overweight” rating and a $80.00 price objective on the stock. Jefferies Financial Group boosted their target price on shares of Dutch Bros from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Stifel Nicolaus increased their price target on shares of Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Barclays raised shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $38.00 to $70.00 in a research report on Tuesday, January 7th. 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 company’s stock. According to MarketBeat.com, Dutch Bros has a consensus rating of “Buy” and a consensus target price of $76.29.

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.