Dutch Bros Inc. (NYSE:BROS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its position in shares of Dutch Bros Inc. (NYSE:BROS) by 67.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,801 shares of the company’s stock after selling 246,952 shares during the quarter. JPMorgan Chase & Co.’s holdings in Dutch Bros were worth $6,380,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BROS. Raymond James Financial Inc. purchased a new position in Dutch Bros in the fourth quarter valued at approximately $94,478,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Dutch Bros by 317.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company’s stock valued at $53,878,000 after acquiring an additional 782,164 shares in the last quarter. State Street Corp boosted its position in Dutch Bros by 34.8% during the 3rd 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 period. Geode Capital Management LLC increased its holdings in Dutch Bros by 28.9% in the 3rd 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 in the last quarter. Finally, Amundi raised its position in Dutch Bros by 21,821.0% in the fourth quarter. Amundi now owns 226,005 shares of the company’s stock valued at $12,701,000 after purchasing an additional 224,974 shares during the period. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Stock Up 0.9 %

Shares of NYSE:BROS opened at $58.26 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. Dutch Bros Inc. has a 1-year low of $26.85 and a 1-year high of $86.88. The company’s fifty day moving average is $66.42 and its two-hundred day moving average is $54.92. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 171.36, a price-to-earnings-growth ratio of 4.23 and a beta of 2.71.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 679,996 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the completion of the transaction, the chairman now owns 2,640,779 shares in the company, valued at approximately $197,451,045.83. This represents a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of Dutch Bros stock in a transaction dated Wednesday, February 26th. The shares were 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 represents 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 over the last quarter. Insiders own 46.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Guggenheim raised their target price on Dutch Bros from $54.00 to $72.00 and gave the company a “buy” rating in a report on Monday, March 31st. Baird R W raised shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. TD Securities reaffirmed a “buy” rating and set a $89.00 price target on shares of Dutch Bros in a research note on Friday, March 28th. Robert W. Baird decreased their price objective 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. Finally, JPMorgan Chase & Co. lifted their target price on Dutch Bros from $58.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $76.14.

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.