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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BROS shares. Jefferies Financial Group boosted their target price 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. Morgan Stanley started coverage on Dutch Bros in a research report on Monday. They issued an “overweight” rating and a $82.00 price target on the stock. Wells Fargo & Company started coverage on shares of Dutch Bros in a research note on Wednesday. They set an “overweight” rating and a $80.00 price objective on the stock. Barclays upgraded shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $70.00 in a research report on Tuesday, January 7th. Finally, Piper Sandler lifted their price objective on shares of Dutch Bros from $51.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.50.

Dutch Bros Stock Down 4.8 %

The stock has a market capitalization of $9.54 billion, a P/E ratio of 181.39, a P/E/G ratio of 4.23 and a beta of 2.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.58. The firm has a 50-day simple moving average of $67.84 and a 200 day simple moving average of $52.39.

Insiders Place Their Bets

In other Dutch Bros news, Chairman Travis Boersma sold 679,996 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $74.77, for a total value of $50,843,300.92. Following the transaction, the chairman now directly owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. This trade represents a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider now directly owns 2,310,834 shares of the company’s stock, valued at approximately $175,415,408.94. The trade was a 7.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,643,632 shares of company stock valued at $201,509,627 in the last ninety days. 46.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake 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 worth $533,465,000 after purchasing an additional 153,070 shares during the last quarter. FMR LLC increased its stake in shares of 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 in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Dutch Bros by 14.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 5,118,265 shares of the company’s stock worth $268,095,000 after buying an additional 627,875 shares in the last quarter. Wasatch Advisors LP boosted 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 valued at $132,229,000 after acquiring an additional 2,885,306 shares during the period. Finally, FIL Ltd bought a new stake in Dutch Bros during the 4th quarter worth approximately $176,298,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

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.