Dutch Bros Inc. (NYSE:BROS) Sees Significant Increase in Short Interest

Dutch Bros Inc. (NYSE:BROS) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 6,980,000 shares, a growth of 34.2% from the February 28th total of 5,200,000 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,040,000 shares, the short-interest ratio is presently 2.3 days.

Dutch Bros Stock Down 0.9 %

Shares of NYSE:BROS traded down $0.55 during trading hours on Tuesday, reaching $61.19. The stock had a trading volume of 3,104,771 shares, compared to its average volume of 3,086,280. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 179.99, a P/E/G 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. The firm’s 50 day moving average is $67.96 and its 200-day moving average is $53.27. Dutch Bros has a 1 year low of $26.85 and a 1 year high of $86.88.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BROS. Jefferies Financial Group upped their price target on Dutch Bros from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Robert W. Baird upped their price target on Dutch Bros from $70.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Stifel Nicolaus boosted 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. UBS Group increased their price objective on shares of Dutch Bros from $67.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Barclays raised Dutch Bros from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $38.00 to $70.00 in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $78.36.

Insider Buying and Selling

In related news, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $75.91, for a total transaction of $13,824,956.93. Following the transaction, the insider now owns 2,310,834 shares of the company’s stock, valued at approximately $175,415,408.94. This trade represents a 7.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Travis Boersma sold 679,996 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $74.77, for a total value of $50,843,300.92. Following the transaction, the chairman now directly owns 2,640,779 shares in the company, valued at $197,451,045.83. This trade represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,643,632 shares of company stock worth $201,509,627. Corporate insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in Dutch Bros by 35.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,527 shares of the company’s stock valued at $22,021,000 after buying an additional 181,636 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Dutch Bros by 46.5% in the third quarter. The Manufacturers Life Insurance Company now owns 27,957 shares of the company’s stock worth $895,000 after acquiring an additional 8,873 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Dutch Bros by 16.9% in the 3rd quarter. MetLife Investment Management LLC now owns 3,878 shares of the company’s stock valued at $124,000 after purchasing an additional 562 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dutch Bros by 54.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,493 shares of the company’s stock valued at $624,000 after acquiring an additional 6,866 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Dutch Bros by 38.0% during the third 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 buying an additional 58,623 shares during the period. Institutional investors and hedge funds 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.