Dutch Bros (NYSE:BROS) Reaches New 1-Year High After Earnings Beat

Dutch Bros Inc. (NYSE:BROS)’s share price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $47.99 and last traded at $47.29, with a volume of 1395282 shares trading hands. The stock had previously closed at $34.94.

The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The firm had revenue of $338.20 million for the quarter, compared to analyst estimates of $324.97 million. During the same period in the previous year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BROS. Robert W. Baird upped their price objective on shares of Dutch Bros from $37.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen upped their price objective on shares of Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday. Barclays upped their price objective on shares of Dutch Bros from $31.00 to $38.00 and gave the company an “equal weight” rating in a research note on Friday. Guggenheim raised shares of Dutch Bros from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Wedbush upped their price objective on shares of Dutch Bros from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Dutch Bros has an average rating of “Moderate Buy” and an average target price of $44.30.

Insider Activity at Dutch Bros

In other news, Chairman Travis Boersma sold 426,891 shares of Dutch Bros stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the transaction, the chairman now owns 467,228 shares of the company’s stock, valued at $14,759,732.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $32.02, for a total transaction of $919,294.20. Following the completion of the transaction, the insider now directly owns 432,518 shares in the company, valued at approximately $13,849,226.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Travis Boersma sold 426,891 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $31.59, for a total value of $13,485,486.69. Following the transaction, the chairman now owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,689,583 shares of company stock worth $55,164,707 over the last quarter. Corporate insiders own 46.50% of the company’s stock.

Institutional Trading of Dutch Bros

Hedge funds have recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in shares of Dutch Bros during the second quarter worth $27,000. Quest Partners LLC lifted its holdings in shares of Dutch Bros by 3,321.7% during the second quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after purchasing an additional 764 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Dutch Bros during the first quarter worth about $26,000. Jamison Private Wealth Management Inc. lifted its holdings in Dutch Bros by 150.2% in the third quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the period. Finally, Hollencrest Capital Management lifted its holdings in Dutch Bros by 52.3% in the third quarter. Hollencrest Capital Management now owns 914 shares of the company’s stock valued at $29,000 after acquiring an additional 314 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Price Performance

The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 188.72, a P/E/G ratio of 3.64 and a beta of 2.47. The stock has a fifty day simple moving average of $33.85 and a 200-day simple moving average of $35.12. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.19 and a quick ratio of 1.88.

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.