Bank of Nova Scotia Invests $3.85 Million in Dutch Bros Inc. (NYSE:BROS)

Bank of Nova Scotia acquired a new stake in shares of Dutch Bros Inc. (NYSE:BROS) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 73,449 shares of the company’s stock, valued at approximately $3,847,000.

A number of other large investors have also made changes to their positions in BROS. State Street Corp boosted its holdings in shares of Dutch Bros by 34.8% during the third quarter. State Street Corp now owns 1,734,646 shares of the company’s stock worth $55,561,000 after purchasing an additional 447,456 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Dutch Bros by 5.0% during the third quarter. Public Employees Retirement System of Ohio now owns 99,434 shares of the company’s stock valued at $3,185,000 after purchasing an additional 4,778 shares during the period. M&T Bank Corp acquired a new position in Dutch Bros in the 3rd quarter worth $436,000. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 397,754 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Dutch Bros during the third quarter worth about $573,000. Institutional investors and hedge funds own 85.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised their price objective on Dutch Bros from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Robert W. Baird dropped their target price on shares of Dutch Bros from $80.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, April 7th. Morgan Stanley started coverage on Dutch Bros in a research note on Monday, March 24th. They issued an “overweight” rating and a $82.00 price target for the company. Stifel Nicolaus increased their target price on Dutch Bros from $74.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of Dutch Bros in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $76.29.

Dutch Bros Price Performance

Shares of BROS opened at $57.61 on Friday. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 169.45, a price-to-earnings-growth ratio of 4.23 and a beta of 2.71. The stock’s fifty day moving average is $66.94 and its 200-day moving average is $54.55. Dutch Bros Inc. has a one year low of $26.85 and a one year high of $86.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 679,996 shares of the company’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 sale, the chairman now owns 2,640,779 shares in the company, valued at $197,451,045.83. This represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 182,123 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 transaction of $13,824,956.93. Following the completion of the sale, the insider now owns 2,310,834 shares in the company, valued at approximately $175,415,408.94. This trade represents a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,643,632 shares of company stock worth $201,509,627. 46.50% of the stock is owned by corporate insiders.

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.