ING Groep NV Purchases 12,000 Shares of Dutch Bros Inc. $BROS

ING Groep NV grew its position in shares of Dutch Bros Inc. (NYSE:BROS) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 430,400 shares of the company’s stock after buying an additional 12,000 shares during the quarter. ING Groep NV’s holdings in Dutch Bros were worth $22,527,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ninety One UK Ltd purchased a new stake in Dutch Bros during the 3rd quarter valued at $135,336,000. Marshall Wace LLP lifted its holdings in shares of Dutch Bros by 139.2% during the second quarter. Marshall Wace LLP now owns 2,509,767 shares of the company’s stock valued at $171,593,000 after purchasing an additional 1,460,376 shares in the last quarter. Norges Bank purchased a new stake in shares of Dutch Bros during the second quarter valued at $93,525,000. Invesco Ltd. increased its holdings in Dutch Bros by 70.9% in the 2nd quarter. Invesco Ltd. now owns 2,333,142 shares of the company’s stock worth $159,517,000 after buying an additional 967,861 shares in the last quarter. Finally, Mane Global Capital Management LP purchased a new position in Dutch Bros in the 2nd quarter worth about $35,936,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 1,678,616 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $55.44, for a total transaction of $93,062,471.04. Following the sale, the chairman owned 9,817 shares in the company, valued at approximately $544,254.48. This trade represents a 99.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 648,089 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $55.44, for a total transaction of $35,930,054.16. Following the completion of the transaction, the insider owned 9,817 shares of the company’s stock, valued at approximately $544,254.48. The trade was a 98.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,465,214 shares of company stock valued at $189,800,291 over the last three months. 42.40% of the stock is currently owned by insiders.

Dutch Bros Stock Performance

Shares of BROS opened at $53.56 on Thursday. Dutch Bros Inc. has a 52 week low of $47.16 and a 52 week high of $86.88. The company has a quick ratio of 1.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 107.11, a PEG ratio of 2.31 and a beta of 2.54. The business has a 50-day simple moving average of $60.35 and a two-hundred day simple moving average of $59.46.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BROS. Morgan Stanley dropped their price target on shares of Dutch Bros from $84.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. KeyCorp restated an “overweight” rating on shares of Dutch Bros in a research report on Friday, January 9th. UBS Group reaffirmed a “buy” rating on shares of Dutch Bros in a research report on Monday. TD Cowen reiterated a “buy” rating on shares of Dutch Bros in a research note on Monday, January 5th. Finally, Mizuho raised their price target on Dutch Bros from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.19.

About Dutch Bros

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.