Renaissance Technologies LLC Has $74.65 Million Stock Position in Dutch Bros Inc. (NYSE:BROS)

Renaissance Technologies LLC lifted its holdings in shares of Dutch Bros Inc. (NYSE:BROS) by 18.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,425,100 shares of the company’s stock after buying an additional 225,300 shares during the period. Renaissance Technologies LLC’s holdings in Dutch Bros were worth $74,647,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Bank of Nova Scotia bought a new position in shares of Dutch Bros during the 4th quarter worth about $3,847,000. FIL Ltd acquired a new stake in shares of Dutch Bros during the 4th quarter worth about $176,298,000. Legal & General Group Plc increased its position in shares of Dutch Bros by 13.5% during the 4th quarter. Legal & General Group Plc now owns 114,448 shares of the company’s stock worth $5,995,000 after purchasing an additional 13,630 shares in the last quarter. Invesco Ltd. increased its position in shares of Dutch Bros by 0.7% during the 4th quarter. Invesco Ltd. now owns 1,172,823 shares of the company’s stock worth $61,432,000 after purchasing an additional 8,332 shares in the last quarter. Finally, FMR LLC increased its position 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 worth $341,333,000 after purchasing an additional 3,227,435 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BROS shares. UBS Group raised their price objective on shares of Dutch Bros from $67.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Dutch Bros in a research note on Tuesday, December 17th. Stifel Nicolaus lifted their price objective on shares of Dutch Bros from $74.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Bank of America lifted their price objective on shares of Dutch Bros from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, TD Securities reissued a “buy” rating and set a $89.00 price objective on shares of Dutch Bros in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.29.

Dutch Bros Trading Up 15.2 %

BROS opened at $60.61 on Thursday. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 178.26, a P/E/G ratio of 4.23 and a beta of 2.71. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.77. Dutch Bros Inc. has a twelve month low of $26.85 and a twelve month high of $86.88. The company has a 50-day simple moving average of $67.21 and a 200 day simple moving average of $54.22.

Insider Transactions at Dutch Bros

In other news, Chairman Travis Boersma sold 755,551 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $77.73, for a total value of $58,728,979.23. Following the completion of the transaction, the chairman now owns 2,903,316 shares of the company’s stock, valued at $225,674,752.68. This represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 182,123 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $75.91, for a total value of $13,824,956.93. Following the completion of the transaction, the insider now directly owns 2,310,834 shares of the company’s stock, valued at $175,415,408.94. This represents a 7.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 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.