Quarry LP raised its position in Dutch Bros Inc. (NYSE:BROS – Free Report) by 68.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,740 shares of the company’s stock after acquiring an additional 704 shares during the quarter. Quarry LP’s holdings in Dutch Bros were worth $56,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of BROS. Baillie Gifford & Co. bought a new position in shares of Dutch Bros during the third quarter valued at approximately $224,461,000. Wasatch Advisors LP increased its position in Dutch Bros by 232.1% during the 3rd quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company’s stock valued at $132,229,000 after purchasing an additional 2,885,306 shares during the period. Marshall Wace LLP raised its holdings in Dutch Bros by 15.4% in the 2nd quarter. Marshall Wace LLP now owns 3,962,374 shares of the company’s stock worth $164,042,000 after purchasing an additional 527,716 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Dutch Bros by 11.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,245,241 shares of the company’s stock worth $92,953,000 after purchasing an additional 222,650 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in shares of Dutch Bros by 58.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,020,447 shares of the company’s stock valued at $64,715,000 after purchasing an additional 741,771 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.
Dutch Bros Price Performance
Shares of NYSE:BROS opened at $53.29 on Tuesday. The business has a fifty day moving average price of $41.62 and a 200-day moving average price of $38.05. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.90 and a quick ratio of 1.68. The company has a market capitalization of $8.22 billion, a PE ratio of 183.76, a PEG ratio of 4.06 and a beta of 2.72. Dutch Bros Inc. has a 1-year low of $25.46 and a 1-year high of $56.10.
Insider Activity at Dutch Bros
In related news, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of Dutch Bros stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $36.03, for a total value of $1,452,837.69. Following the completion of the sale, the insider now directly owns 125,671 shares in the company, valued at approximately $4,527,926.13. This trade represents a 24.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Dm Trust Aggregator, Llc sold 4,600 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $34.01, for a total value of $156,446.00. Following the completion of the transaction, the insider now directly owns 507,700 shares of the company’s stock, valued at approximately $17,266,877. This trade represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 593,131 shares of company stock valued at $20,145,930 over the last 90 days. Corporate insiders own 46.50% of the company’s stock.
Wall Street Analysts Forecast Growth
BROS has been the subject of a number of research reports. Piper Sandler increased their price target on shares of Dutch Bros from $36.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Robert W. Baird raised their target price on Dutch Bros from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Barclays upped their price target on Dutch Bros from $31.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Dutch Bros from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Wedbush upped their target price on shares of Dutch Bros from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.40.
Check Out Our Latest Report on BROS
About Dutch Bros
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.
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