Dutch Bros (NYSE:BROS) Research Coverage Started at Morgan Stanley

Morgan Stanley assumed coverage on shares of Dutch Bros (NYSE:BROS) in a report published on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $82.00 price objective on the stock.

A number of other brokerages have also recently issued reports on BROS. Wedbush increased their price objective on shares of Dutch Bros from $65.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. 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 research note on Monday, January 27th. TD Securities boosted their price objective on Dutch Bros from $65.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Piper Sandler increased their target price on Dutch Bros from $51.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their price target on Dutch Bros from $58.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dutch Bros has a consensus rating of “Buy” and an average price target of $76.50.

Dutch Bros Stock Down 1.6 %

BROS stock opened at $68.78 on Monday. The business’s 50-day moving average price is $67.75 and its 200-day moving average price is $52.30. The stock has a market cap of $10.61 billion, a P/E ratio of 202.29, a PEG ratio of 4.23 and a beta of 2.65. Dutch Bros has a twelve month low of $26.85 and a twelve 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.

Insider Activity at Dutch Bros

In other news, Chairman Travis Boersma sold 755,551 shares of the 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 sale, the chairman now owns 2,903,316 shares of the company’s stock, valued at approximately $225,674,752.68. This represents a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $75.91, for a total transaction of $13,824,956.93. Following the completion of the sale, the insider now directly owns 2,310,834 shares of the company’s stock, valued at approximately $175,415,408.94. The trade was a 7.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,643,632 shares of company stock valued at $201,509,627. Insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Hedge funds have recently bought and sold shares of the business. FIL Ltd purchased a new stake in Dutch Bros in the 4th quarter valued at about $176,298,000. FMR LLC raised its stake in shares of Dutch Bros by 98.1% during the fourth quarter. FMR LLC now owns 6,516,479 shares of the company’s stock valued at $341,333,000 after acquiring an additional 3,227,435 shares in the last quarter. Wasatch Advisors LP boosted its holdings 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 valued at $132,229,000 after purchasing an additional 2,885,306 shares during the period. Raymond James Financial Inc. bought a new position in Dutch Bros in the fourth quarter worth approximately $94,478,000. Finally, Wellington Management Group LLP increased its holdings 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 worth $63,527,000 after purchasing an additional 1,141,913 shares during the period. Institutional investors own 85.54% of the company’s stock.

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.