Dutch Bros (NYSE:BROS) Trading Down 8.2% – Here’s What Happened

Dutch Bros Inc. (NYSE:BROS)’s share price was down 8.2% during mid-day trading on Tuesday . The stock traded as low as $69.84 and last traded at $70.10. Approximately 1,502,369 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 3,041,020 shares. The stock had previously closed at $76.34.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BROS shares. TD Cowen raised their target price on shares of Dutch Bros from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday. Baird R W upgraded shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Barclays upgraded shares of Dutch Bros from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $70.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group lifted their price target on shares of Dutch Bros from $60.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $75.75.

Dutch Bros Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.58. The firm has a market cap of $11.12 billion, a PE ratio of 212.07, a price-to-earnings-growth ratio of 4.23 and a beta of 2.73. The firm has a 50-day simple moving average of $64.59 and a 200 day simple moving average of $48.43.

Insider Buying and Selling at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of Dutch Bros stock in a transaction dated 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 owns 2,640,779 shares of the company’s stock, valued at $197,451,045.83. The trade was a 9.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Travis Boersma sold 679,996 shares of Dutch Bros stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. This represents a 20.48 % 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.

Hedge Funds Weigh In On Dutch Bros

Large investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Dutch Bros in the 3rd quarter worth about $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. raised its position in Dutch Bros by 35.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,527 shares of the company’s stock worth $22,021,000 after buying an additional 181,636 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $6,817,000 after buying an additional 58,623 shares during the last quarter. Finally, Clear Creek Financial Management LLC purchased 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.

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.