Dutch Bros (NYSE:BROS) Shares Gap Down to $28.85

Shares of Dutch Bros Inc. (NYSE:BROS) gapped down prior to trading on Thursday . The stock had previously closed at $28.85, but opened at $27.77. Dutch Bros shares last traded at $27.70, with a volume of 239,661 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BROS. Jefferies Financial Group dropped their target price on shares of Dutch Bros from $41.00 to $35.00 in a research note on Tuesday, October 3rd. Stifel Nicolaus lowered their price target on shares of Dutch Bros from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, September 11th. UBS Group initiated coverage on shares of Dutch Bros in a research report on Thursday, September 21st. They issued a “neutral” rating and a $28.00 price target for the company. Barclays lowered their price target on shares of Dutch Bros from $30.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Finally, Wedbush lowered their price target on shares of Dutch Bros from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.00.

Dutch Bros Price Performance

The stock’s 50-day moving average is $25.34 and its 200 day moving average is $27.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.83 and a quick ratio of 1.42. The company has a market cap of $4.93 billion, a PE ratio of 695.50 and a beta of 2.52.

Insider Activity at Dutch Bros

In other news, major shareholder Tsg7 A. Management Llc sold 5,641,152 shares of Dutch Bros stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $28.16, for a total transaction of $158,854,840.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 49.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dutch Bros

Several institutional investors and hedge funds have recently made changes to their positions in BROS. Bank of New York Mellon Corp lifted its stake in shares of Dutch Bros by 130.5% during the first quarter. Bank of New York Mellon Corp now owns 62,839 shares of the company’s stock worth $3,474,000 after buying an additional 35,574 shares during the period. HighTower Advisors LLC raised its holdings in shares of Dutch Bros by 7.9% during the first quarter. HighTower Advisors LLC now owns 8,894 shares of the company’s stock worth $493,000 after purchasing an additional 651 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Dutch Bros by 422.9% during the first quarter. Blair William & Co. IL now owns 182,592 shares of the company’s stock worth $10,092,000 after purchasing an additional 147,673 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Dutch Bros during the first quarter worth $943,000. Finally, Cetera Investment Advisers raised its holdings in shares of Dutch Bros by 96.3% during the first quarter. Cetera Investment Advisers now owns 9,354 shares of the company’s stock worth $517,000 after purchasing an additional 4,590 shares during the last quarter.

Dutch Bros Company Profile

Dutch Bros Inc operates and franchises drive-thru shops. The company offers coffee-based beverages, including custom drinks, cold brews, and freeze blended beverages, as well as Blue Rebel energy drinks. It also provides tea, lemonade, sodas, smoothies, and other beverages through company-operated shops and online channels.