Lord Abbett & CO. LLC Invests $25.71 Million in Dutch Bros Inc. (NYSE:BROS)

Lord Abbett & CO. LLC purchased a new stake in shares of Dutch Bros Inc. (NYSE:BROS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 490,757 shares of the company’s stock, valued at approximately $25,706,000. Lord Abbett & CO. LLC owned about 0.32% of Dutch Bros at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Dutch Bros in the third quarter worth $573,000. Wilmington Savings Fund Society FSB purchased a new position in Dutch Bros in the 3rd quarter worth about $50,000. Watts Gwilliam & Co. LLC purchased a new position in Dutch Bros in the 4th quarter worth about $304,000. Fortitude Family Office LLC bought a new stake in Dutch Bros during the 4th quarter valued at about $41,000. Finally, Harbor Capital Advisors Inc. boosted its position in Dutch Bros by 6.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 28,637 shares of the company’s stock valued at $1,500,000 after buying an additional 1,661 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BROS has been the subject of several research analyst reports. Piper Sandler lifted their price target 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. Stifel Nicolaus lifted their target price on Dutch Bros from $74.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Morgan Stanley set a $80.00 price target on Dutch Bros and gave the stock an “overweight” rating in a research report on Monday, April 14th. Bank of America raised their price target on Dutch Bros from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of Dutch Bros from $58.00 to $80.00 and gave the company an “overweight” rating in a research 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 company’s stock. According to MarketBeat.com, Dutch Bros currently has an average rating of “Buy” and an average price target of $76.57.

Dutch Bros Stock Up 3.2 %

Dutch Bros stock opened at $63.45 on Friday. Dutch Bros Inc. has a 1-year low of $26.85 and a 1-year high of $86.88. The business has a fifty day moving average price of $64.22 and a 200-day moving average price of $56.44. 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 capitalization of $9.78 billion, a price-to-earnings ratio of 186.62, a PEG ratio of 4.23 and a beta of 2.71.

Insider Buying and Selling at Dutch Bros

In related news, Chairman Travis Boersma sold 679,996 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 2,640,779 shares of the company’s stock, valued at $197,451,045.83. This trade represents a 20.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 291,707 shares of Dutch Bros stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $77.73, for a total transaction of $22,674,385.11. Following the completion of the sale, the insider now owns 2,903,316 shares of the company’s stock, valued at $225,674,752.68. This trade 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 worth $201,509,627. 42.40% of the stock is owned by insiders.

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.