Canada Pension Plan Investment Board Decreases Stock Position in Dutch Bros Inc. (NYSE:BROS)

Canada Pension Plan Investment Board cut its holdings in Dutch Bros Inc. (NYSE:BROS) by 56.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 173,700 shares of the company’s stock after selling 223,500 shares during the period. Canada Pension Plan Investment Board’s holdings in Dutch Bros were worth $9,098,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BROS. Vanguard Group Inc. boosted its holdings in Dutch Bros by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 10,184,514 shares of the company’s stock worth $533,465,000 after purchasing an additional 153,070 shares during the last quarter. FMR LLC lifted its holdings in shares of Dutch Bros by 98.1% during the 4th quarter. FMR LLC now owns 6,516,479 shares of the company’s stock valued at $341,333,000 after buying an additional 3,227,435 shares during the period. FIL Ltd purchased a new position in shares of Dutch Bros in the 4th quarter worth $176,298,000. Raymond James Financial Inc. bought a new stake in shares of Dutch Bros in the fourth quarter worth $94,478,000. Finally, Geode Capital Management LLC increased its position in Dutch Bros by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,795,485 shares of the company’s stock valued at $94,079,000 after acquiring an additional 22,214 shares during the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dutch Bros

In related news, Chairman Travis Boersma sold 471,718 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $75.91, for a total value of $35,808,113.38. Following the completion of the transaction, the chairman now directly owns 2,310,834 shares of the company’s stock, valued at approximately $175,415,408.94. This trade represents a 16.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 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 transaction of $22,674,385.11. Following the sale, the insider now directly owns 2,903,316 shares in the company, valued at approximately $225,674,752.68. The trade was a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,643,632 shares of company stock worth $201,509,627. Insiders own 42.40% of the company’s stock.

Dutch Bros Trading Down 2.1 %

Dutch Bros stock opened at $57.04 on Tuesday. Dutch Bros Inc. has a 1 year low of $26.85 and a 1 year high of $86.88. The firm’s 50 day moving average price is $65.98 and its 200-day moving average price is $55.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.58. The stock has a market cap of $8.80 billion, a P/E ratio of 167.77, a PEG ratio of 4.23 and a beta of 2.71.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Baird R W raised Dutch Bros from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Morgan Stanley set a $80.00 price objective on shares of Dutch Bros and gave the stock an “overweight” rating in a report on Monday, April 14th. Guggenheim upped their target price on shares of Dutch Bros from $54.00 to $72.00 and gave the company a “buy” rating in a report on Monday, March 31st. Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Dutch Bros in a research note on Monday, March 31st. Finally, Wells Fargo & Company assumed coverage on Dutch Bros in a research note on Wednesday, March 26th. They issued an “overweight” rating and a $80.00 price objective for the company. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $76.14.

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.