Dutch Bros (NYSE:BROS) Trading Down 7% – Here’s What Happened

Dutch Bros Inc. (NYSE:BROS) shares fell 7% during mid-day trading on Friday . The company traded as low as $60.23 and last traded at $60.47. 2,095,462 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 2,995,651 shares. The stock had previously closed at $65.01.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America boosted their target price on shares of Dutch Bros from $61.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Robert W. Baird boosted their price objective on shares of Dutch Bros from $70.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on Dutch Bros from $58.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Wells Fargo & Company assumed coverage on Dutch Bros in a report on Wednesday. They set an “overweight” rating and a $80.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Dutch Bros from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $76.50.

Dutch Bros Price Performance

The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average price is $67.89 and its 200 day moving average price is $52.74. The stock has a market cap of $9.64 billion, a PE ratio of 183.80, a P/E/G ratio of 4.23 and a beta of 2.65.

Insiders Place Their Bets

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $77.73, for a total transaction of $22,674,385.11. Following the completion of the transaction, the insider now owns 2,903,316 shares in the company, valued at $225,674,752.68. This trade represents a 9.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Travis Boersma sold 679,996 shares of the company’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 value of $50,843,300.92. Following the sale, the chairman now directly owns 2,640,779 shares in the company, valued at $197,451,045.83. This trade represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,643,632 shares of company stock worth $201,509,627 in the last 90 days. 46.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWC Advisors LLC. bought a new stake in shares of Dutch Bros in the 4th quarter worth about $307,000. Wealth Enhancement Advisory Services LLC bought a new stake in Dutch Bros in the fourth quarter worth about $267,000. Copia Wealth Management purchased a new position in shares of Dutch Bros during the fourth quarter valued at approximately $73,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Dutch Bros during the fourth quarter valued at approximately $5,700,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Dutch Bros during the fourth quarter valued at approximately $2,585,000. 85.54% of the stock is owned by hedge funds and other 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.