Lord Abbett & CO. LLC Makes New Investment in Dutch Bros Inc. (NYSE:BROS)

Lord Abbett & CO. LLC purchased a new position in Dutch Bros Inc. (NYSE:BROS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 490,757 shares of the company's stock, valued at approximately $25,706,000. Lord Abbett & CO. LLC owned 0.32% of Dutch Bros at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BROS. Virtu Financial LLC purchased a new position in shares of Dutch Bros in the 3rd quarter valued at about $573,000. Raymond James Financial Inc. purchased a new stake in Dutch Bros in the fourth quarter valued at $94,478,000. Clear Creek Financial Management LLC acquired a new position in shares of Dutch Bros in the 4th quarter worth approximately $288,000. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Dutch Bros in the fourth quarter valued at $304,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Dutch Bros by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 885,055 shares of the company's stock worth $49,785,000 after buying an additional 17,402 shares in the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $75.91, for a total value of $13,824,956.93. Following the completion of the transaction, the insider now directly owns 2,310,834 shares of the company's stock, valued at $175,415,408.94. This trade represents a 7.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Travis Boersma sold 755,551 shares of the company's stock in a transaction dated Friday, February 21st. The stock was 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 owns 2,903,316 shares of the company's stock, valued at $225,674,752.68. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,643,632 shares of company stock valued at $201,509,627. Company insiders own 42.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on BROS shares. Jefferies Financial Group increased their price target on shares of Dutch Bros from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their price target on shares of Dutch Bros from $58.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Bank of America lifted their target price on shares of Dutch Bros from $61.00 to $72.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Barclays cut their price objective on shares of Dutch Bros from $94.00 to $76.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company initiated coverage on shares of Dutch Bros in a report on Wednesday, March 26th. They set an "overweight" rating and a $80.00 price objective on the stock. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Dutch Bros presently has an average rating of "Buy" and an average price target of $76.57.

Dutch Bros Trading Down 2.2 %

NYSE:BROS traded down $1.32 during mid-day trading on Wednesday, hitting $59.66. 2,741,102 shares of the company's stock were exchanged, compared to its average volume of 3,170,325. The firm has a market capitalization of $9.20 billion, a P/E ratio of 175.48, a PEG ratio of 4.23 and a beta of 2.71. Dutch Bros Inc. has a fifty-two week low of $26.85 and a fifty-two week high of $86.88. The company has a 50 day simple moving average of $63.00 and a 200-day simple moving average of $56.87. The company has a current ratio of 1.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77.

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.