Dutch Bros (NYSE:BROS) Shares Down 8.6% – Here’s What Happened

Dutch Bros Inc. (NYSE:BROS) traded down 8.6% on Monday . The stock traded as low as $57.36 and last traded at $58.37. 1,441,718 shares changed hands during trading, a decline of 54% from the average session volume of 3,127,275 shares. The stock had previously closed at $63.86.

Analyst Ratings Changes

Several analysts recently commented on the company. Bank of America lifted their price objective on Dutch Bros from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Jefferies Financial Group increased their price objective on shares of Dutch Bros from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Piper Sandler boosted their target price on shares of Dutch Bros from $51.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of Dutch Bros from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Barclays raised shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $70.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $75.75.

Dutch Bros Stock Up 4.3 %

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 firm has a market capitalization of $9.68 billion, a PE ratio of 184.69, a PEG ratio of 4.23 and a beta of 2.65. The company has a fifty day moving average price of $65.90 and a 200-day moving average price of $49.83.

Insider Activity

In other news, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $74.77, for a total transaction of $19,629,891.49. Following the transaction, the insider now owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. The trade was a 9.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chairman now owns 2,903,316 shares of the company’s stock, valued at approximately $225,674,752.68. This represents a 20.65 % 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Dutch Bros

Several hedge funds and other institutional investors have recently made changes to their positions in BROS. Virtu Financial LLC purchased a new position in shares of Dutch Bros during the third quarter valued at approximately $573,000. Baillie Gifford & Co. purchased a new position in Dutch Bros in the 3rd quarter worth about $224,461,000. Charles Schwab Investment Management Inc. lifted its holdings in Dutch Bros by 35.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,527 shares of the company’s stock valued at $22,021,000 after buying an additional 181,636 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Dutch Bros by 38.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,834 shares of the company’s stock valued at $6,817,000 after buying an additional 58,623 shares during the period. Finally, Clear Creek Financial Management LLC bought a new position in Dutch Bros in the 4th quarter worth about $288,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

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.