Dutch Bros (NYSE:BROS) Stock Price Up 4% – Here’s Why

Dutch Bros Inc. (NYSE:BROS)’s stock price rose 4% during mid-day trading on Thursday. The stock traded as high as $40.16 and last traded at $39.6950. Approximately 1,118,621 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 4,271,330 shares. The stock had previously closed at $38.18.

Analysts Set New Price Targets

BROS has been the topic of a number of research analyst reports. Oppenheimer reissued a “positive” rating on shares of Dutch Bros in a report on Wednesday, September 30th. Telsey Advisory Group increased their target price on shares of Dutch Bros from $66.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Seaport Research Partners initiated coverage on shares of Dutch Bros in a research report on Wednesday, September 16th. They set a “buy” rating and a $50.00 price target for the company. DA Davidson decreased their price target on Dutch Bros from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. Finally, Citigroup restated a “buy” rating on shares of Dutch Bros in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.88.

Dutch Bros Price Performance

The company has a fifty day simple moving average of $47.18 and a two-hundred day simple moving average of $54.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.35. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 53.96, a P/E/G ratio of 1.38 and a beta of 2.31.

Dutch Bros (NYSE:BROS) last released its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. Dutch Bros had a net margin of 4.91% and a return on equity of 10.01%. The business had revenue of $550.85 million for the quarter, compared to analysts’ expectations of $525.38 million. During the same period last year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 32.5% on a year-over-year basis. As a group, research analysts anticipate that Dutch Bros Inc. will post 0.88 earnings per share for the current year.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Director Todd Penegor acquired 2,000 shares of the stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $51.56 per share, for a total transaction of $103,120.00. Following the purchase, the director directly owned 7,358 shares in the company, valued at $379,378.48. This trade represents a 37.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 38.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dutch Bros

A number of hedge funds have recently added to or reduced their stakes in the business. Ancora Advisors LLC bought a new stake in Dutch Bros in the second quarter valued at $29,000. Brown Lisle Cummings Inc. grew its position in shares of Dutch Bros by 63.8% during the first quarter. Brown Lisle Cummings Inc. now owns 819 shares of the company’s stock worth $41,000 after acquiring an additional 319 shares during the last quarter. Glen Eagle Advisors LLC bought a new position in shares of Dutch Bros during the fourth quarter worth about $74,000. Archer Investment Corp acquired a new stake in shares of Dutch Bros in the 2nd quarter worth about $101,000. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Dutch Bros by 77.1% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,030 shares of the company’s stock worth $146,000 after acquiring an additional 884 shares during the period. Institutional investors and hedge funds own 85.54% of the company’s stock.

About Dutch Bros

Dutch Bros Inc is a drive-thru beverage company that operates the Dutch Bros coffeehouse brand. The company serves a broad menu of handcrafted beverages, including specialty coffees, cold brews, teas, energy drinks, lemonades, smoothies and flavored sodas, along with a selection of snacks and other food items.

Dutch Bros was founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon. From its original pushcart operation, the company developed a drive-thru-focused model built around convenience, customized drinks and customer service.