Dutch Bros (NYSE:BROS) Sets New 12-Month High Following Strong Earnings

Dutch Bros Inc. (NYSE:BROS)’s stock price reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $47.99 and last traded at $47.29, with a volume of 1395282 shares changing hands. The stock had previously closed at $34.94.

The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. The firm had revenue of $338.20 million for the quarter, compared to analyst estimates of $324.97 million. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The business’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 earnings per share.

Analysts Set New Price Targets

BROS has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Dutch Bros from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird increased their price objective on Dutch Bros from $37.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday. Wedbush lifted their target price on Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of Dutch Bros from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler downgraded shares of Dutch Bros from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $36.00 in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.60.

Insider Buying and Selling

In related news, Chairman Travis Boersma sold 800 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the completion of the transaction, the chairman now directly owns 466,828 shares of the company’s stock, valued at approximately $14,938,496. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.02, for a total value of $919,294.20. Following the sale, the insider now directly owns 432,518 shares in the company, valued at $13,849,226.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Travis Boersma sold 800 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $32.00, for a total transaction of $25,600.00. Following the transaction, the chairman now owns 466,828 shares of the company’s stock, valued at $14,938,496. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,689,583 shares of company stock valued at $55,164,707. 46.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Dutch Bros

A number of institutional investors have recently added to or reduced their stakes in BROS. Arcadia Investment Management Corp MI purchased a new position in shares of Dutch Bros during the second quarter worth about $27,000. Quest Partners LLC grew its position in Dutch Bros by 3,321.7% in the second quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after acquiring an additional 764 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Dutch Bros in the first quarter valued at $26,000. Jamison Private Wealth Management Inc. raised its position in Dutch Bros by 150.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares in the last quarter. Finally, Hollencrest Capital Management lifted its stake in Dutch Bros by 52.3% during the third quarter. Hollencrest Capital Management now owns 914 shares of the company’s stock worth $29,000 after purchasing an additional 314 shares during the last quarter. 85.54% of the stock is currently owned by institutional investors.

Dutch Bros Price Performance

The company has a current ratio of 2.19, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $6.90 billion, a PE ratio of 179.04, a PEG ratio of 3.64 and a beta of 2.47. The business has a fifty day moving average price of $33.53 and a 200-day moving average price of $34.99.

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.