Dutch Bros Inc. (NYSE:BROS) Sees Large Growth in Short Interest

Dutch Bros Inc. (NYSE:BROS) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 10,970,000 shares, a growth of 6.7% from the August 15th total of 10,280,000 shares. Based on an average daily trading volume, of 3,580,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately 10.1% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of analysts have recently issued reports 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 for the company in a report on Thursday, August 8th. TD Cowen reiterated a “buy” rating and issued a $47.00 target price on shares of Dutch Bros in a report on Thursday, September 12th. Piper Sandler downgraded shares of Dutch Bros from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $41.00 to $36.00 in a report on Monday, August 19th. Guggenheim upgraded shares of Dutch Bros from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dutch Bros from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Dutch Bros currently has an average rating of “Moderate Buy” and a consensus target price of $39.73.

Insider Activity at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 426,891 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 467,228 shares in the company, valued at approximately $14,759,732.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $32.02, for a total transaction of $919,294.20. Following the completion of the sale, the insider now owns 432,518 shares in the company, valued at approximately $13,849,226.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Travis Boersma sold 426,891 shares of the firm’s stock in a transaction that occurred 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 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. In the last three months, insiders have sold 1,128,885 shares of company stock valued at $36,124,009. 46.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dutch Bros

Several institutional investors have recently modified their holdings of the company. Wasatch Advisors LP purchased a new stake in Dutch Bros in the first quarter valued at $41,988,000. Neuberger Berman Group LLC lifted its position in Dutch Bros by 17.7% in the fourth quarter. Neuberger Berman Group LLC now owns 27,759 shares of the company’s stock valued at $879,000 after acquiring an additional 4,170 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Dutch Bros in the first quarter valued at $4,430,000. Janney Montgomery Scott LLC lifted its position in Dutch Bros by 96.4% in the first quarter. Janney Montgomery Scott LLC now owns 27,295 shares of the company’s stock valued at $901,000 after acquiring an additional 13,395 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Dutch Bros in the first quarter valued at $200,000. 85.54% of the stock is owned by hedge funds and other institutional investors.

Dutch Bros Stock Down 0.4 %

Shares of Dutch Bros stock traded down $0.13 during trading on Wednesday, hitting $34.56. 2,777,050 shares of the stock were exchanged, compared to its average volume of 2,746,293. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 192.78, a price-to-earnings-growth ratio of 2.70 and a beta of 2.49. The firm’s 50-day moving average price is $34.66 and its 200 day moving average price is $34.64. Dutch Bros has a 12-month low of $22.67 and a 12-month high of $43.49. 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 (NYSE:BROS) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $324.92 million during the quarter, compared to analysts’ expectations of $317.39 million. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS. As a group, analysts forecast that Dutch Bros will post 0.32 earnings per share for the current fiscal 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.