Financial Advocates Investment Management raised its position in Dutch Bros Inc. (NYSE:BROS – Get Rating) by 174.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 28,225 shares of the company’s stock after acquiring an additional 17,938 shares during the quarter. Financial Advocates Investment Management’s holdings in Dutch Bros were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in BROS. Lindbrook Capital LLC increased its stake in shares of Dutch Bros by 831.0% in the second quarter. Lindbrook Capital LLC now owns 931 shares of the company’s stock valued at $29,000 after purchasing an additional 831 shares during the period. GPS Wealth Strategies Group LLC acquired a new stake in shares of Dutch Bros in the second quarter valued at approximately $41,000. Rosenberg Matthew Hamilton acquired a new position in shares of Dutch Bros during the second quarter valued at approximately $44,000. Newbridge Financial Services Group Inc. increased its stake in shares of Dutch Bros by 100.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,000 shares of the company’s stock valued at $63,000 after acquiring an additional 1,000 shares during the period. Finally, CWM LLC acquired a new position in shares of Dutch Bros during the second quarter valued at approximately $71,000.
Insider Buying and Selling
In related news, COO Brian Maxwell sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the transaction, the chief operating officer now owns 1,153,620 shares of the company’s stock, valued at approximately $46,144,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 49.30% of the company’s stock.
Dutch Bros Stock Performance
Wall Street Analyst Weigh In
A number of research firms recently commented on BROS. Cowen lowered their price objective on shares of Dutch Bros from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Thursday, November 10th. Robert W. Baird raised their price objective on shares of Dutch Bros from $30.00 to $46.00 in a research note on Thursday, August 11th. Stifel Nicolaus raised their price objective on shares of Dutch Bros from $30.00 to $45.00 in a research note on Thursday, August 11th. Barclays lowered their price objective on shares of Dutch Bros to $30.00 in a research note on Tuesday, November 15th. Finally, Cowen reduced their target price on shares of Dutch Bros from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. Three 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, the company presently has an average rating of “Moderate Buy” and an average target price of $45.00.
About Dutch Bros
Dutch Bros Inc operates and franchises drive-thru shops. It offers Dutch Bros hot and cold espresso-based beverages, and cold brew coffee products, as well as Blue Rebel energy drinks, tea, lemonade, smoothies, and other beverages through company-operated shops and online channels. As of May 11, 2022, it operated 572 drive-thru coffee locations across 12 states in the United States.
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