Dutch Bros (NYSE:BROS) Reaches New 52-Week High – Here’s What Happened

Dutch Bros Inc. (NYSE:BROS) reached a new 52-week high during trading on Thursday . The company traded as high as $56.41 and last traded at $56.18, with a volume of 1618038 shares changing hands. The stock had previously closed at $52.38.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BROS. Jefferies Financial Group upped their price target on shares of Dutch Bros from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Barclays upped their target price on Dutch Bros from $31.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. TD Cowen lifted their price target on Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their price objective on Dutch Bros from $42.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their target price on Dutch Bros from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.27.

Dutch Bros Price Performance

The stock’s 50 day simple moving average is $48.41 and its 200-day simple moving average is $39.95. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 191.73, a price-to-earnings-growth ratio of 3.89 and a beta of 2.72. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.68 and a current ratio of 1.90.

Dutch Bros (NYSE:BROS) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $338.20 million during the quarter, compared to analyst estimates of $324.97 million. Dutch Bros had a return on equity of 5.48% and a net margin of 2.54%. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. Equities research analysts anticipate that Dutch Bros Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 80,720 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $36.03, for a total value of $2,908,341.60. Following the completion of the transaction, the chairman now directly owns 125,671 shares of the company’s stock, valued at approximately $4,527,926.13. The trade was a 39.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $36.03, for a total transaction of $1,452,837.69. Following the sale, the insider now directly owns 125,671 shares in the company, valued at $4,527,926.13. The trade was a 24.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 560,698 shares of company stock worth $19,040,697 over the last quarter. Insiders own 46.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new stake in shares of Dutch Bros in the third quarter valued at approximately $224,461,000. Wasatch Advisors LP increased its holdings in Dutch Bros by 232.1% in the 3rd quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company’s stock worth $132,229,000 after acquiring an additional 2,885,306 shares in the last quarter. Marshall Wace LLP raised its position in Dutch Bros by 15.4% during the second quarter. Marshall Wace LLP now owns 3,962,374 shares of the company’s stock worth $164,042,000 after acquiring an additional 527,716 shares during the period. Driehaus Capital Management LLC lifted its holdings in Dutch Bros by 11.0% during the second quarter. Driehaus Capital Management LLC now owns 2,245,241 shares of the company’s stock valued at $92,953,000 after purchasing an additional 222,650 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in shares of Dutch Bros by 58.0% in the third quarter. Eagle Asset Management Inc. now owns 2,020,447 shares of the company’s stock valued at $64,715,000 after purchasing an additional 741,771 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.

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.