Raymond James Financial Inc. Acquires New Holdings in Dutch Bros Inc. (NYSE:BROS)

Raymond James Financial Inc. purchased a new stake in Dutch Bros Inc. (NYSE:BROS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,803,689 shares of the company's stock, valued at approximately $94,478,000. Raymond James Financial Inc. owned 1.17% of Dutch Bros as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. acquired a new position in Dutch Bros during the third quarter valued at $224,461,000. Wasatch Advisors LP boosted its stake in shares of Dutch Bros by 232.1% in the third quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company's stock worth $132,229,000 after acquiring an additional 2,885,306 shares during the last quarter. Wellington Management Group LLP grew its stake in 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 acquiring an additional 1,141,913 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Dutch Bros by 317.4% in the fourth quarter. Concurrent Investment Advisors LLC now owns 1,028,605 shares of the company's stock valued at $53,878,000 after purchasing an additional 782,164 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted 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 acquiring an additional 741,771 shares during the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dutch Bros

In other news, Chairman Travis Boersma sold 755,551 shares of the company'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 owns 2,903,316 shares in the company, valued at approximately $225,674,752.68. This represents a 20.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now owns 2,640,779 shares in the company, valued at $197,451,045.83. This represents a 9.04 % decrease in their position. 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 over the last 90 days. 46.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on BROS. Jefferies Financial Group upped their price objective on Dutch Bros from $60.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Bank of America increased their price target on Dutch Bros from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, January 27th. 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. William Blair reissued an "outperform" rating on shares of Dutch Bros in a research note on Tuesday, December 17th. Finally, Piper Sandler increased their price objective on shares of Dutch Bros from $51.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. One investment 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 stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $75.75.

Dutch Bros Stock Down 4.4 %

BROS traded down $2.77 on Thursday, hitting $59.54. 3,154,688 shares of the company were exchanged, compared to its average volume of 3,200,721. The company has a current ratio of 1.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market cap of $9.18 billion, a price-to-earnings ratio of 175.12, a price-to-earnings-growth ratio of 4.23 and a beta of 2.65. The firm has a 50-day moving average price of $66.10 and a two-hundred day moving average price of $49.92. Dutch Bros Inc. has a twelve month low of $26.85 and a twelve month high of $86.88.

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.