Dutch Bros (NYSE:BROS) Shares Gap Up on Analyst Upgrade

Dutch Bros Inc. (NYSE:BROS) gapped up before the market opened on Wednesday after Barclays raised their price target on the stock from $30.00 to $35.00. The stock had previously closed at $28.42, but opened at $31.15. Barclays currently has an equal weight rating on the stock. Dutch Bros shares last traded at $32.42, with a volume of 3,100,342 shares traded.

Several other equities research analysts have also recently commented on BROS. Guggenheim reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Dutch Bros in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on Dutch Bros from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. William Blair reissued an “outperform” rating on shares of Dutch Bros in a research report on Thursday, February 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 price target on shares of Dutch Bros in a research report on Wednesday, April 3rd. Finally, Piper Sandler raised shares of Dutch Bros from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $37.00 in a research note on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Dutch Bros currently has an average rating of “Moderate Buy” and an average target price of $35.22.

Insiders Place Their Bets

In related news, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $28.90, for a total value of $231,200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Travis Boersma sold 404,950 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $28.06, for a total value of $11,362,897.00. Following the transaction, the chairman now owns 1,378,683 shares in the company, valued at approximately $38,685,844.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $28.90, for a total transaction of $231,200,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,907,188 shares of company stock valued at $561,438,392. 46.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dutch Bros

A number of institutional investors have recently made changes to their positions in BROS. DekaBank Deutsche Girozentrale bought a new position in shares of Dutch Bros during the fourth quarter worth approximately $40,000. Avior Wealth Management LLC grew its holdings in Dutch Bros by 1,610.7% in the 4th quarter. Avior Wealth Management LLC now owns 1,283 shares of the company’s stock valued at $41,000 after buying an additional 1,208 shares in the last quarter. Allworth Financial LP increased its position in Dutch Bros by 41.8% during the 4th quarter. Allworth Financial LP now owns 1,598 shares of the company’s stock worth $51,000 after buying an additional 471 shares during the period. GPS Wealth Strategies Group LLC lifted its holdings in shares of Dutch Bros by 31.1% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 2,490 shares of the company’s stock worth $79,000 after buying an additional 590 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Dutch Bros by 661.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,552 shares of the company’s stock worth $81,000 after buying an additional 2,217 shares in the last quarter. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Stock Performance

The company has a debt-to-equity ratio of 0.68, a current ratio of 1.49 and a quick ratio of 1.15. The stock’s 50-day moving average price is $31.35 and its 200-day moving average price is $29.20. The company has a market cap of $5.80 billion, a P/E ratio of 1,091.67, a PEG ratio of 4.33 and a beta of 2.43.

Dutch Bros (NYSE:BROS) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. Dutch Bros had a net margin of 0.18% and a negative return on equity of 0.54%. The business had revenue of $254.12 million during the quarter, compared to analysts’ expectations of $254.80 million. Equities analysts anticipate that Dutch Bros Inc. will post 0.25 EPS for the current 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.