Oppenheimer & Co. Inc. Makes New Investment in Dutch Bros Inc. (NYSE:BROS)

Oppenheimer & Co. Inc. bought a new position in Dutch Bros Inc. (NYSE:BROS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 25,996 shares of the company’s stock, valued at approximately $1,362,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BROS. Baillie Gifford & Co. purchased a new stake in shares of Dutch Bros during the 3rd quarter valued at $224,461,000. Wasatch Advisors LP raised its position in shares of Dutch Bros by 232.1% during the 3rd quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company’s stock valued at $132,229,000 after buying an additional 2,885,306 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Dutch Bros by 135.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,983,368 shares of the company’s stock valued at $63,527,000 after buying an additional 1,141,913 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Dutch Bros by 317.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company’s stock valued at $53,878,000 after buying an additional 782,164 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Dutch Bros by 58.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,020,447 shares of the company’s stock valued at $64,715,000 after buying an additional 741,771 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Travis Boersma sold 471,718 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $75.91, for a total value of $35,808,113.38. Following the completion of the sale, the chairman now directly owns 2,310,834 shares of the company’s stock, valued at approximately $175,415,408.94. This trade represents a 16.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 2,903,316 shares of the company’s stock, valued at approximately $225,674,752.68. This represents a 9.13 % 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 valued at $201,509,627 in the last quarter. Insiders own 46.50% of the company’s stock.

Dutch Bros Price Performance

Shares of Dutch Bros stock opened at $76.42 on Tuesday. The firm has a market cap of $11.78 billion, a PE ratio of 224.77, a price-to-earnings-growth ratio of 4.23 and a beta of 2.73. Dutch Bros Inc. has a 12-month low of $26.85 and a 12-month 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. The company’s fifty day simple moving average is $64.12 and its two-hundred day simple moving average is $48.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BROS. Robert W. Baird raised 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. TD Cowen raised their price objective on shares of Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of Dutch Bros from $58.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. UBS Group increased their target price 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. Finally, Stifel Nicolaus increased their target price on shares of Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Dutch Bros presently has a consensus rating of “Buy” and an average price target of $75.75.

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.