TD Cowen Reaffirms “Buy” Rating for Dutch Bros (NYSE:BROS)

TD Cowen reaffirmed their buy rating on shares of Dutch Bros (NYSE:BROS) in a research report sent to investors on Thursday, Benzinga reports. TD Cowen currently has a $47.00 target price on the stock.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird cut their price target on shares of Dutch Bros from $42.00 to $37.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. Piper Sandler cut Dutch Bros from an overweight rating to a neutral rating and reduced their target price for the company from $41.00 to $36.00 in a report on Monday, August 19th. Guggenheim upgraded Dutch Bros from a neutral rating to a buy rating in a research note on Thursday, August 8th. Stifel Nicolaus reduced their price objective on Dutch Bros from $40.00 to $38.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group upgraded Dutch Bros from a neutral rating to a buy rating and set a $39.00 target price for the company in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $39.73.

Dutch Bros Trading Up 0.1 %

Shares of Dutch Bros stock opened at $34.01 on Thursday. Dutch Bros has a fifty-two week low of $22.67 and a fifty-two week high of $43.49. The business’s fifty day moving average is $34.96 and its two-hundred day moving average is $34.50. The company has a quick ratio of 1.88, a current ratio of 2.19 and a debt-to-equity ratio of 0.82. The firm has a market cap of $5.24 billion, a PE ratio of 188.95, a P/E/G ratio of 2.70 and a beta of 2.49.

Dutch Bros (NYSE:BROS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. Dutch Bros had a return on equity of 3.99% and a net margin of 1.95%. The firm had revenue of $324.92 million for the quarter, compared to analyst estimates of $317.39 million. During the same period last year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. Analysts anticipate that Dutch Bros will post 0.32 earnings per share for the current year.

Insider Activity

In related news, Chairman Travis Boersma sold 426,891 shares of Dutch Bros stock in a transaction on Monday, August 19th. The shares were sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the sale, the chairman now owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Dm Trust Aggregator, Llc sold 1,800 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.00, for a total transaction of $57,600.00. Following the completion of the transaction, the insider now directly owns 712,819 shares in the company, valued at approximately $22,810,208. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Travis Boersma sold 426,891 shares of Dutch Bros stock in a transaction on Monday, August 19th. The stock was sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the completion of the sale, the chairman now owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,096,452 shares of company stock worth $35,018,776. 46.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BROS. Vanguard Group Inc. raised its stake in shares of Dutch Bros by 35.0% in the 1st quarter. Vanguard Group Inc. now owns 6,412,246 shares of the company’s stock valued at $211,604,000 after purchasing an additional 1,661,778 shares in the last quarter. Marshall Wace LLP increased its holdings in Dutch Bros by 15.4% in the second quarter. Marshall Wace LLP now owns 3,962,374 shares of the company’s stock valued at $164,042,000 after buying an additional 527,716 shares during the last quarter. Driehaus Capital Management LLC raised its stake 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 buying an additional 222,650 shares in the last quarter. Davidson Kempner Capital Management LP lifted its holdings in Dutch Bros by 43.5% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 1,585,159 shares of the company’s stock worth $65,626,000 after buying an additional 480,153 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Dutch Bros in the 2nd quarter worth approximately $57,435,000. 85.54% of the stock is currently owned by institutional investors.

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.