Dutch Bros Inc. (NYSE:BROS) Position Lifted by Pier Capital LLC

Pier Capital LLC lifted its stake in Dutch Bros Inc. (NYSE:BROS) by 32.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,545 shares of the company’s stock after acquiring an additional 54,847 shares during the period. Dutch Bros accounts for 1.7% of Pier Capital LLC’s portfolio, making the stock its 4th largest position. Pier Capital LLC’s holdings in Dutch Bros were worth $11,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Dutch Bros by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 10,184,514 shares of the company’s stock worth $533,465,000 after purchasing an additional 153,070 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Dutch Bros by 232.1% in the 3rd quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company’s stock worth $132,229,000 after buying an additional 2,885,306 shares during the last quarter. Wellington Management Group LLP raised its stake 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 worth $63,527,000 after acquiring an additional 1,141,913 shares in the last quarter. Joho Capital LLC lifted its position in Dutch Bros by 40.7% during the third quarter. Joho Capital LLC now owns 1,919,514 shares of the company’s stock valued at $61,482,000 after acquiring an additional 555,000 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Dutch Bros in the fourth quarter valued at approximately $94,478,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Dutch Bros Trading Up 7.7 %

Shares of Dutch Bros stock opened at $70.48 on Tuesday. Dutch Bros Inc. has a 1 year low of $26.85 and a 1 year high of $86.88. 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 stock has a market cap of $10.87 billion, a PE ratio of 207.30, a price-to-earnings-growth ratio of 4.23 and a beta of 2.65. The firm has a fifty day moving average price of $67.34 and a 200 day moving average price of $51.92.

Insider Buying and Selling at Dutch Bros

In other 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 shares were sold at an average price of $77.73, for a total transaction of $22,674,385.11. Following the sale, the insider now owns 2,903,316 shares of the company’s stock, valued at $225,674,752.68. This trade represents a 9.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Travis Boersma sold 755,551 shares of Dutch Bros stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $77.73, for a total transaction of $58,728,979.23. Following the transaction, the chairman now directly owns 2,903,316 shares of the company’s stock, valued at approximately $225,674,752.68. This trade represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,643,632 shares of company stock worth $201,509,627. Insiders own 46.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America upped their price target on Dutch Bros from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Piper Sandler upped their target price on Dutch Bros from $51.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Morgan Stanley began coverage on Dutch Bros in a report on Monday. They issued an “overweight” rating and a $82.00 price target for the company. Baird R W raised shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dutch Bros from $58.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Dutch Bros presently has an average rating of “Buy” and an average target price of $76.23.

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.