Dutch Bros (NYSE:BROS) Shares Gap Down on Analyst Downgrade

Shares of Dutch Bros Inc. (NYSE:BROS) gapped down before the market opened on Thursday after TD Cowen lowered their price target on the stock from $50.00 to $47.00. The stock had previously closed at $37.70, but opened at $29.09. TD Cowen currently has a buy rating on the stock. Dutch Bros shares last traded at $27.58, with a volume of 5,246,191 shares changing hands.

Several other research firms also recently weighed in on BROS. Robert W. Baird dropped their price target on Dutch Bros from $42.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays raised their price objective on Dutch Bros from $30.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Wedbush increased their target price on Dutch Bros from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Bank of America increased their target price on Dutch Bros from $44.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Guggenheim raised their price objective on Dutch Bros from $30.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.36.

Insider Transactions at Dutch Bros

In other news, Chairman Travis Boersma sold 54,359 shares of Dutch Bros stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $36.02, for a total value of $1,958,011.18. Following the completion of the transaction, the chairman now owns 1,281,743 shares in the company, valued at approximately $46,168,382.86. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Dm Trust Aggregator, Llc sold 27,135 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $36.02, for a total transaction of $977,402.70. Following the sale, the insider now owns 2,116,783 shares in the company, valued at $76,246,523.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Travis Boersma sold 54,359 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $36.02, for a total transaction of $1,958,011.18. Following the completion of the transaction, the chairman now directly owns 1,281,743 shares in the company, valued at approximately $46,168,382.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,228,068 shares of company stock valued at $44,765,154. Insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Several hedge funds and other institutional investors have recently modified their holdings of BROS. Transcendent Capital Group LLC bought a new position in Dutch Bros in the 1st quarter worth approximately $26,000. Arcadia Investment Management Corp MI acquired a new position in Dutch Bros during the 2nd quarter worth $27,000. Quest Partners LLC boosted its position in Dutch Bros by 3,321.7% during the 2nd quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after acquiring an additional 764 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Dutch Bros in the fourth quarter worth $40,000. Finally, Avior Wealth Management LLC increased its holdings in shares of Dutch Bros by 1,610.7% during the fourth quarter. Avior Wealth Management LLC now owns 1,283 shares of the company’s stock valued at $41,000 after purchasing an additional 1,208 shares during the period. Institutional investors and hedge funds own 85.54% of the company’s stock.

Dutch Bros Trading Down 25.9 %

The business’s 50 day moving average is $39.24 and its two-hundred day moving average is $33.76. The firm has a market capitalization of $4.95 billion, a P/E ratio of 156.06, a PEG ratio of 4.71 and a beta of 2.53. The company has a quick ratio of 1.98, a current ratio of 2.29 and a debt-to-equity ratio of 0.86.

Dutch Bros (NYSE:BROS) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.06 EPS for the quarter. The company had revenue of $275.10 million for the quarter, compared to the consensus estimate of $255.71 million. Dutch Bros had a net margin of 1.21% and a return on equity of 1.99%. Analysts expect that Dutch Bros Inc. will post 0.3 EPS for the current year.

Dutch Bros Company Profile

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.