Dutch Bros Inc. (NYSE:BROS) Sees Significant Drop in Short Interest

Dutch Bros Inc. (NYSE:BROS) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 5,200,000 shares, a drop of 25.4% from the February 13th total of 6,970,000 shares. Based on an average daily trading volume, of 2,850,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 4.9% of the company’s stock are sold short.

Dutch Bros Stock Performance

Shares of Dutch Bros stock traded down $0.55 during trading hours on Monday, reaching $61.93. 2,234,523 shares of the stock traded hands, compared to its average volume of 2,954,458. The company has a 50 day moving average price of $66.29 and a 200 day moving average price of $50.47. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 182.16, a P/E/G ratio of 4.23 and a beta of 2.65. Dutch Bros has a one year low of $26.85 and a one year high of $86.88. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BROS shares. Baird R W raised Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. William Blair reissued an “outperform” rating on shares of Dutch Bros in a research report on Tuesday, December 17th. JPMorgan Chase & Co. boosted 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. TD Securities boosted their target price on Dutch Bros from $65.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Bank of America boosted their target price on Dutch Bros from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $75.75.

Insider Buying and Selling at Dutch Bros

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 stock was 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 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 $19,629,891.49. Following the transaction, the insider now directly owns 2,640,779 shares of the company’s stock, valued at $197,451,045.83. This represents a 9.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,643,632 shares of company stock valued at $201,509,627. 46.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Dutch Bros during the 4th quarter valued at approximately $25,000. Coppell Advisory Solutions LLC grew its stake in shares of Dutch Bros by 638.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 517 shares of the company’s stock valued at $27,000 after acquiring an additional 447 shares during the period. Fortitude Family Office LLC bought a new position in shares of Dutch Bros during the 4th quarter valued at approximately $41,000. Bernard Wealth Management Corp. bought a new position in shares of Dutch Bros during the 4th quarter valued at approximately $43,000. Finally, Gould Capital LLC grew its stake in shares of Dutch Bros by 20.4% during the 4th quarter. Gould Capital LLC now owns 826 shares of the company’s stock valued at $43,000 after acquiring an additional 140 shares during the period. 85.54% of the stock is currently owned by institutional investors.

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.