Clearbridge Investments LLC Cuts Stock Position in Dutch Bros Inc. (NYSE:BROS)

Clearbridge Investments LLC trimmed its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 921,267 shares of the company’s stock after selling 53,578 shares during the period. Clearbridge Investments LLC’s holdings in Dutch Bros were worth $48,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BROS. Level Four Advisory Services LLC grew its stake in shares of Dutch Bros by 6.1% in the fourth quarter. Level Four Advisory Services LLC now owns 6,793 shares of the company’s stock valued at $356,000 after buying an additional 392 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Dutch Bros by 11.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 16,204 shares of the company’s stock worth $849,000 after acquiring an additional 1,629 shares during the period. Norges Bank purchased a new stake in shares of Dutch Bros during the fourth quarter valued at approximately $17,266,000. Pier Capital LLC raised its stake in shares of Dutch Bros by 32.7% during the fourth quarter. Pier Capital LLC now owns 222,545 shares of the company’s stock valued at $11,657,000 after purchasing an additional 54,847 shares during the period. Finally, EFG Asset Management North America Corp. lifted its position in shares of Dutch Bros by 107.4% during the fourth quarter. EFG Asset Management North America Corp. now owns 53,436 shares of the company’s stock worth $2,798,000 after purchasing an additional 27,668 shares in the last quarter. 85.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Travis Boersma sold 755,551 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $77.73, for a total transaction of $58,728,979.23. Following the completion of the transaction, the chairman now directly owns 2,903,316 shares in the company, valued at $225,674,752.68. This represents a 20.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $77.73, for a total value of $22,674,385.11. Following the completion of the sale, the insider now directly owns 2,903,316 shares in the company, valued at $225,674,752.68. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,643,632 shares of company stock valued at $201,509,627. 46.50% of the stock is currently owned by insiders.

Dutch Bros Price Performance

Shares of NYSE:BROS opened at $61.19 on Wednesday. The company has a market cap of $9.44 billion, a PE ratio of 179.99, a P/E/G ratio of 4.23 and a beta of 2.65. Dutch Bros Inc. has a fifty-two week low of $26.85 and a fifty-two week high of $86.88. The firm has a 50-day simple moving average of $67.96 and a 200 day simple moving average of $53.27. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BROS shares. Stifel Nicolaus raised their price target on shares of Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 28th. Baird R W raised Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Wells Fargo & Company started coverage on Dutch Bros in a report on Wednesday, March 26th. They issued an “overweight” rating and a $80.00 price target for the company. Bank of America lifted their price objective on Dutch Bros from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Jefferies Financial Group increased their target price on Dutch Bros from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $78.36.

Dutch Bros 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.