LPL Financial LLC Sells 3,931 Shares of Dutch Bros Inc. (NYSE:BROS)

LPL Financial LLC reduced its position in Dutch Bros Inc. (NYSE:BROS) by 1.3% in the 4th quarter, HoldingsChannel reports. The firm owned 309,390 shares of the company’s stock after selling 3,931 shares during the period. LPL Financial LLC’s holdings in Dutch Bros were worth $16,206,000 as of its most recent filing with the SEC.

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

Dutch Bros Stock Performance

Dutch Bros stock opened at $61.19 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The stock has a market cap of $9.44 billion, a PE ratio of 179.99, a P/E/G ratio of 4.23 and a beta of 2.65. Dutch Bros Inc. has a 12-month low of $26.85 and a 12-month high of $86.88. The business’s 50-day moving average price is $67.96 and its two-hundred day moving average price is $53.27.

Insider Activity at Dutch Bros

In other news, Chairman Travis Boersma sold 679,996 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the sale, the chairman now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $77.73, for a total transaction of $22,674,385.11. Following the completion of the transaction, the insider now owns 2,903,316 shares of the company’s stock, valued at approximately $225,674,752.68. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,643,632 shares of company stock valued at $201,509,627. 46.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BROS has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Dutch Bros from $51.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Baird R W upgraded Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wells Fargo & Company started coverage on shares of Dutch Bros in a research report on Wednesday, March 26th. They issued an “overweight” rating and a $80.00 target price for the company. Robert W. Baird raised their price target on shares of Dutch Bros from $70.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley began coverage on shares of Dutch Bros in a research report on Monday, March 24th. They set an “overweight” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Dutch Bros currently has a consensus rating of “Buy” and an average target price of $78.36.

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.