Bank of New York Mellon Corp Decreases Stock Holdings in Dutch Bros Inc. (NYSE:BROS)

Bank of New York Mellon Corp decreased its position in Dutch Bros Inc. (NYSE:BROS) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,100,718 shares of the company’s stock after selling 79,634 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.71% of Dutch Bros worth $57,656,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Dutch Bros in the fourth quarter valued at about $25,000. Fortitude Family Office LLC purchased a new position in shares of Dutch Bros in the fourth quarter valued at about $41,000. Hollencrest Capital Management increased its position in shares of Dutch Bros by 52.3% in the third quarter. Hollencrest Capital Management now owns 914 shares of the company’s stock valued at $29,000 after acquiring an additional 314 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Dutch Bros in the third quarter valued at about $36,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of Dutch Bros in the fourth quarter valued at about $60,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Price Performance

BROS stock opened at $72.10 on Wednesday. Dutch Bros Inc. has a 12 month low of $26.85 and a 12 month high of $86.88. 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 50-day moving average price of $64.59 and a 200 day moving average price of $48.43. The stock has a market cap of $11.12 billion, a PE ratio of 212.07, a P/E/G ratio of 4.23 and a beta of 2.73.

Insider Activity at Dutch Bros

In other news, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 2,310,834 shares in the company, valued at approximately $175,415,408.94. The trade was a 7.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Travis Boersma sold 679,996 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $74.77, for a total transaction of $50,843,300.92. Following the completion of the sale, the chairman now owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. This represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,643,632 shares of company stock worth $201,509,627 in the last 90 days. 46.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BROS has been the topic of a number of research reports. Stifel Nicolaus lifted their target price on shares of Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Baird R W raised shares of Dutch Bros from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America lifted their target price on shares of Dutch Bros from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of Dutch Bros in a research note on Tuesday, December 17th. Finally, Piper Sandler lifted their target price on shares of Dutch Bros from $51.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $75.75.

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.