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

Shares of Dutch Bros Inc. (NYSE:BROS) gapped up prior to trading 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.

Several other research analysts have also recently weighed in on the company. Guggenheim restated a “neutral” rating and issued a $30.00 price target on shares of Dutch Bros in a research note on Friday, April 5th. Wedbush upped their price objective on Dutch Bros from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $40.00 price objective on shares of Dutch Bros in a research report on Wednesday, April 3rd. William Blair reiterated an “outperform” rating on shares of Dutch Bros in a research report on Thursday, February 22nd. Finally, Piper Sandler upgraded Dutch Bros from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $37.00 in a research report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.22.

Insider Buying and Selling at Dutch Bros

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

Institutional Trading of Dutch Bros

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Dutch Bros by 13.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 46,710 shares of the company’s stock worth $1,086,000 after purchasing an additional 5,406 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Dutch Bros by 27.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,973 shares of the company’s stock worth $720,000 after acquiring an additional 6,681 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Dutch Bros by 50.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,381 shares of the company’s stock worth $218,000 after acquiring an additional 3,154 shares during the last quarter. TD Asset Management Inc raised its stake in Dutch Bros by 59.7% in the 3rd quarter. TD Asset Management Inc now owns 23,778 shares of the company’s stock worth $553,000 after acquiring an additional 8,890 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Dutch Bros in the 3rd quarter worth $5,275,000. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Price Performance

The company has a market cap of $5.63 billion, a PE ratio of 1,058.67, a price-to-earnings-growth ratio of 4.33 and a beta of 2.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.49. The stock has a 50 day moving average of $31.28 and a 200-day moving average of $29.18.

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