Mirae Asset Global Investments Co. Ltd. Buys 3,637 Shares of Dutch Bros Inc. (NYSE:BROS)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Dutch Bros Inc. (NYSE:BROS) by 16.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,433 shares of the company’s stock after acquiring an additional 3,637 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Dutch Bros were worth $805,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Dutch Bros by 42.9% during the 3rd quarter. FMR LLC now owns 8,581,751 shares of the company’s stock valued at $199,526,000 after purchasing an additional 2,578,145 shares during the period. Vanguard Group Inc. lifted its position in Dutch Bros by 32.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,614,550 shares of the company’s stock valued at $107,288,000 after purchasing an additional 1,120,908 shares during the period. American Century Companies Inc. lifted its position in Dutch Bros by 191.7% during the 3rd quarter. American Century Companies Inc. now owns 1,177,148 shares of the company’s stock valued at $27,369,000 after purchasing an additional 773,616 shares during the period. Invesco Ltd. acquired a new position in Dutch Bros during the 3rd quarter valued at about $11,549,000. Finally, Fenimore Asset Management Inc. acquired a new position in Dutch Bros during the 4th quarter valued at about $13,610,000. Institutional investors own 85.54% of the company’s stock.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 98,017 shares of Dutch Bros stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $36.04, for a total value of $3,532,532.68. Following the transaction, the chairman now owns 672,439 shares in the company, valued at $24,234,701.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $33.88, for a total transaction of $271,040,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Travis Boersma sold 98,017 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $36.04, for a total value of $3,532,532.68. Following the sale, the chairman now owns 672,439 shares in the company, valued at $24,234,701.56. The disclosure for this sale can be found here. Insiders have sold a total of 17,907,188 shares of company stock worth $561,438,392 over the last 90 days. Insiders own 46.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BROS shares. Barclays cut their price target on shares of Dutch Bros from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Guggenheim reaffirmed a “neutral” rating and set a $30.00 price target on shares of Dutch Bros in a research note on Friday, April 5th. TD Cowen reaffirmed a “hold” rating and set a $33.00 price target on shares of Dutch Bros in a research note on Wednesday, April 10th. Piper Sandler raised shares of Dutch Bros from a “neutral” rating to an “overweight” rating and raised their target price for the company from $32.00 to $37.00 in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Dutch Bros from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Dutch Bros presently has a consensus rating of “Moderate Buy” and an average target price of $34.44.

Dutch Bros Stock Down 0.9 %

BROS stock opened at $28.54 on Thursday. The company has a market cap of $5.06 billion, a PE ratio of 951.33 and a beta of 2.41. The business has a 50-day simple moving average of $31.18 and a 200 day simple moving average of $28.97. Dutch Bros Inc. has a 52 week low of $22.67 and a 52 week high of $36.17. The company has a quick ratio of 1.15, a current ratio of 1.49 and a debt-to-equity ratio of 0.68.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $254.12 million during the quarter, compared to the consensus estimate of $254.80 million. Dutch Bros had a negative return on equity of 0.54% and a net margin of 0.18%. Sell-side analysts anticipate that Dutch Bros Inc. will post 0.26 EPS for the current fiscal year.

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.