Dutch Bros (NYSE:BROS – Get Rating) had its price target dropped by stock analysts at Robert W. Baird from $60.00 to $30.00 in a research note issued to investors on Thursday, The Fly reports. Robert W. Baird’s target price would indicate a potential downside of 12.71% from the stock’s previous close.
A number of other research analysts also recently issued reports on the company. Stifel Nicolaus downgraded Dutch Bros from a “buy” rating to a “hold” rating and cut their price objective for the company from $70.00 to $30.00 in a research note on Thursday. Zacks Investment Research downgraded Dutch Bros from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Cowen dropped their price target on Dutch Bros from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 2nd. Gordon Haskett started coverage on Dutch Bros in a research note on Wednesday, April 13th. They issued a “buy” rating and a $64.00 price target for the company. Finally, Piper Sandler dropped their price target on Dutch Bros from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dutch Bros currently has an average rating of “Buy” and a consensus target price of $54.10.
NYSE BROS opened at $34.37 on Thursday. Dutch Bros has a 52 week low of $32.42 and a 52 week high of $81.40. The company has a quick ratio of 0.27, a current ratio of 0.43 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $51.78 and a 200-day moving average price of $52.66.
In other Dutch Bros news, major shareholder Tsg7 A. Management Llc sold 5,000,000 shares of the stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $51.47, for a total value of $257,350,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joth Ricci sold 71,125 shares of the stock in a transaction on Monday, March 7th. The stock was sold at an average price of $46.08, for a total value of $3,277,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,222,250 shares of company stock worth $267,655,469 in the last 90 days.
A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new stake in Dutch Bros during the third quarter valued at about $41,762,000. Invesco Ltd. boosted its position in Dutch Bros by 331.9% during the fourth quarter. Invesco Ltd. now owns 900,326 shares of the company’s stock valued at $45,836,000 after purchasing an additional 691,872 shares in the last quarter. Alliancebernstein L.P. boosted its position in Dutch Bros by 24.4% during the fourth quarter. Alliancebernstein L.P. now owns 828,613 shares of the company’s stock valued at $42,185,000 after purchasing an additional 162,300 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Dutch Bros in the third quarter worth about $33,357,000. Finally, Janus Henderson Group PLC acquired a new stake in Dutch Bros in the third quarter worth about $29,180,000.
Dutch Bros Company Profile (Get Rating)
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 December 31, 2021, it operated 538 drive-thru coffee locations in Arizona, California, Colorado, Idaho, Kansas, Nevada, New Mexico, Oklahoma, Oregon, Texas, Utah, and Washington.
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