Dutch Bros (NYSE:BROS) Lowered to “Sell” at Zacks Investment Research

Dutch Bros (NYSE:BROSGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Dutch Bros Inc. is an operator and franchisor of drive-thru shops which focus on serving high QUALITY, hand-crafted beverages with unparalleled SPEED and superior SERVICE. Dutch Bros Inc. is based in GRANTS PASS, Ore. “

Several other research firms also recently commented on BROS. Bank of America decreased their target price on shares of Dutch Bros from $80.00 to $64.00 in a research report on Thursday, May 12th. Cowen decreased their price target on Dutch Bros from $65.00 to $35.00 in a research note on Thursday, May 12th. Cowen decreased their target price on Dutch Bros from $65.00 to $35.00 in a research report on Thursday, May 12th. Stifel Nicolaus lowered shares of Dutch Bros from a “buy” rating to a “hold” rating and cut their target price for the stock from $70.00 to $30.00 in a research report on Thursday, May 12th. Finally, Gordon Haskett began coverage on Dutch Bros in a research report on Wednesday, April 13th. They issued a “buy” rating and a $64.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Dutch Bros currently has an average rating of “Buy” and an average target price of $50.91.

Shares of NYSE:BROS traded up $4.08 during midday trading on Monday, hitting $31.83. 2,699,334 shares of the stock were exchanged, compared to its average volume of 2,286,885. Dutch Bros has a 52-week low of $20.05 and a 52-week high of $81.40. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.64 and a quick ratio of 0.40. The business’s fifty day simple moving average is $48.61 and its two-hundred day simple moving average is $50.32.

Dutch Bros (NYSE:BROSGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). As a group, sell-side analysts predict that Dutch Bros will post -0.05 earnings per share for the current fiscal year.

In related news, CFO Charles Jemley sold 5,000 shares of Dutch Bros stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $54.08, for a total transaction of $270,400.00. Following the completion of the transaction, the chief financial officer now directly owns 1,252,032 shares of the company’s stock, valued at approximately $67,709,890.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen Gillett purchased 4,725 shares of Dutch Bros stock in a transaction on Monday, May 16th. The stock was purchased at an average price of $26.29 per share, for a total transaction of $124,220.25. Following the completion of the transaction, the director now owns 4,725 shares of the company’s stock, valued at $124,220.25. The disclosure for this purchase can be found here. Insiders have sold a total of 5,222,250 shares of company stock worth $267,655,469 in the last three months.

Several large investors have recently bought and sold shares of BROS. Invesco Ltd. grew its position in Dutch Bros by 331.9% during the 4th quarter. Invesco Ltd. now owns 900,326 shares of the company’s stock worth $45,836,000 after acquiring an additional 691,872 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Dutch Bros by 24.4% in the fourth quarter. Alliancebernstein L.P. now owns 828,613 shares of the company’s stock worth $42,185,000 after purchasing an additional 162,300 shares in the last quarter. Federated Hermes Inc. boosted its stake in Dutch Bros by 33.3% in the first quarter. Federated Hermes Inc. now owns 800,000 shares of the company’s stock worth $44,216,000 after purchasing an additional 200,000 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of Dutch Bros during the third quarter worth $33,357,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Dutch Bros in the third quarter valued at $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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