Dutch Bros Inc. (NYSE:BROS) Short Interest Up 34.2% in March

Dutch Bros Inc. (NYSE:BROS) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 6,980,000 shares, a growth of 34.2% from the February 28th total of 5,200,000 shares. Based on an average daily trading volume, of 3,040,000 shares, the short-interest ratio is presently 2.3 days. Approximately 6.5% of the company’s stock are sold short.

Analysts Set New Price Targets

Several brokerages have issued reports on BROS. William Blair restated an “outperform” rating on shares of Dutch Bros in a research note on Tuesday, December 17th. 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 report on Wednesday, January 15th. UBS Group upped their price target on shares of Dutch Bros from $67.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Stifel Nicolaus upped their price objective on shares of Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, TD Securities restated a “buy” rating and set a $89.00 price target on shares of Dutch Bros in a report on Friday. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Dutch Bros has a consensus rating of “Buy” and an average price target of $78.36.

Insider Buying and Selling at Dutch Bros

In other news, Chairman Travis Boersma sold 755,551 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $77.73, for a total value of $58,728,979.23. Following the completion of the transaction, the chairman now owns 2,903,316 shares in the company, valued at $225,674,752.68. This trade represents a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 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 $19,629,891.49. Following the completion of the transaction, the insider now directly owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. This trade represents a 9.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,643,632 shares of company stock valued at $201,509,627 in the last 90 days. Company insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Dutch Bros by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 10,184,514 shares of the company’s stock valued at $533,465,000 after purchasing an additional 153,070 shares in the last quarter. FMR LLC increased its position in shares of Dutch Bros by 98.1% during the fourth quarter. FMR LLC now owns 6,516,479 shares of the company’s stock valued at $341,333,000 after acquiring an additional 3,227,435 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Dutch Bros by 14.0% during the fourth 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 in the last quarter. FIL Ltd acquired a new position in shares of Dutch Bros in the fourth quarter valued at approximately $176,298,000. Finally, Wellington Management Group LLP lifted its stake in Dutch Bros by 135.7% in the third quarter. Wellington Management Group LLP now owns 1,983,368 shares of the company’s stock worth $63,527,000 after acquiring an additional 1,141,913 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Down 1.0 %

NYSE BROS traded down $0.60 on Monday, reaching $61.92. 4,171,507 shares of the stock traded hands, compared to its average volume of 3,080,506. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. The company has a fifty day moving average price of $67.93 and a 200-day moving average price of $53.08. Dutch Bros has a 12 month low of $26.85 and a 12 month high of $86.88. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 182.11, a PEG ratio of 4.23 and a beta of 2.65.

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.