Dutch Bros (NYSE:BROS) Shares Down 7% – Here’s Why

Dutch Bros Inc. (NYSE:BROS) shares were down 7% on Friday . The company traded as low as $60.23 and last traded at $60.47. Approximately 2,095,462 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 2,995,651 shares. The stock had previously closed at $65.01.

Analyst Ratings Changes

A number of equities analysts have issued reports on BROS shares. Jefferies Financial Group lifted their price target on Dutch Bros from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their price target on Dutch Bros from $58.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Stifel Nicolaus raised their price objective on Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Barclays upgraded shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $38.00 to $70.00 in a research note on Tuesday, January 7th. Finally, William Blair reissued an “outperform” rating on shares of Dutch Bros in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $76.50.

Dutch Bros Stock Performance

The stock has a market cap of $9.64 billion, a PE ratio of 183.80, a P/E/G ratio of 4.23 and a beta of 2.65. 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 company has a fifty day moving average price of $67.89 and a 200 day moving average price of $52.74.

Insider Activity at Dutch Bros

In other news, Chairman Travis Boersma sold 679,996 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $74.77, for a total value of $50,843,300.92. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $77.73, for a total value of $22,674,385.11. Following the transaction, the insider now directly owns 2,903,316 shares in the company, valued at approximately $225,674,752.68. The trade was a 9.13 % 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 90 days. Corporate insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

A number of hedge funds have recently bought and sold shares of BROS. Vanguard Group Inc. boosted its holdings in shares of Dutch Bros by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 10,184,514 shares of the company’s stock valued at $533,465,000 after acquiring an additional 153,070 shares during the last quarter. FMR LLC boosted its holdings in Dutch Bros by 98.1% in the fourth quarter. FMR LLC now owns 6,516,479 shares of the company’s stock worth $341,333,000 after purchasing an additional 3,227,435 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Dutch Bros by 14.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company’s stock worth $268,095,000 after purchasing an additional 627,875 shares during the period. Wasatch Advisors LP grew its position in Dutch Bros by 232.1% in the 3rd 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 during the period. Finally, FIL Ltd purchased a new stake in Dutch Bros during the 4th quarter valued at $176,298,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

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.