KLP Kapitalforvaltning AS Purchases New Stake in Dutch Bros Inc. (NYSE:BROS)

KLP Kapitalforvaltning AS purchased a new stake in Dutch Bros Inc. (NYSE:BROS) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 22,700 shares of the company’s stock, valued at approximately $1,189,000.

Several other institutional investors have also bought and sold shares of BROS. Virtu Financial LLC purchased a new position in Dutch Bros during the 3rd quarter worth $573,000. Charles Schwab Investment Management Inc. boosted its holdings in Dutch Bros by 35.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,527 shares of the company’s stock worth $22,021,000 after purchasing an additional 181,636 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Dutch Bros during the fourth quarter worth about $94,478,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 purchasing an additional 58,623 shares in the last quarter. Finally, Clear Creek Financial Management LLC purchased a new stake in Dutch Bros in the 4th quarter valued at about $288,000. Institutional investors own 85.54% of the company’s stock.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 755,551 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $77.73, for a total value of $58,728,979.23. Following the completion of the transaction, the chairman now directly owns 2,903,316 shares of the company’s stock, valued at $225,674,752.68. This trade represents a 20.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $74.77, for a total transaction of $19,629,891.49. Following the transaction, the insider now owns 2,640,779 shares of the company’s stock, valued at $197,451,045.83. This trade represents a 9.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,643,632 shares of company stock valued at $201,509,627 in the last quarter. 46.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BROS. Stifel Nicolaus boosted their target price on Dutch Bros from $74.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Barclays raised Dutch Bros from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $38.00 to $70.00 in a research report on Tuesday, January 7th. William Blair reaffirmed an “outperform” rating on shares of Dutch Bros in a research report on Tuesday, December 17th. Piper Sandler lifted their target price on Dutch Bros from $51.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on shares of Dutch Bros in a research report on Monday, March 24th. They set an “overweight” rating and a $82.00 price target for the company. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Dutch Bros presently has a consensus rating of “Buy” and a consensus price target of $76.50.

Dutch Bros Stock Performance

NYSE:BROS opened at $62.49 on Friday. The business’s fifty day moving average is $67.89 and its 200 day moving average is $52.74. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 183.80, a PEG ratio of 4.23 and a beta of 2.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. Dutch Bros Inc. has a 52-week low of $26.85 and a 52-week high of $86.88.

Dutch Bros Company Profile

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.