Dutch Bros (NYSE:BROS) Sets New 52-Week High - Here's What Happened

Dutch Bros Inc. (NYSE:BROS - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $59.18 and last traded at $57.41, with a volume of 2309550 shares. The stock had previously closed at $57.78.

Wall Street Analyst Weigh In

BROS has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Dutch Bros from $48.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, December 19th. UBS Group boosted their target price on Dutch Bros from $44.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Wedbush boosted their price target on shares of Dutch Bros from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Robert W. Baird upgraded shares of Dutch Bros from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $60.00 to $70.00 in a report on Monday. Finally, Baird R W raised shares of Dutch Bros from a "hold" rating to a "strong-buy" rating in a research report on Monday. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Dutch Bros presently has a consensus rating of "Buy" and an average price target of $56.36.

Dutch Bros Price Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 1.90 and a quick ratio of 1.68. The firm has a market cap of $8.65 billion, a PE ratio of 193.49, a P/E/G ratio of 3.89 and a beta of 2.71. The business's fifty day moving average is $50.12 and its 200-day moving average is $40.46.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.04. Dutch Bros had a net margin of 2.54% and a return on equity of 5.48%. The company had revenue of $338.20 million for the quarter, compared to analysts' expectations of $324.97 million. During the same quarter in the previous year, the firm posted $0.08 EPS. Dutch Bros's revenue was up 27.9% on a year-over-year basis. On average, research analysts predict that Dutch Bros Inc. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 115,854 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $33.38, for a total value of $3,867,206.52. Following the completion of the transaction, the insider now owns 9,817 shares in the company, valued at $327,691.46. This trade represents a 92.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Travis Boersma sold 285,462 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $33.38, for a total value of $9,528,721.56. Following the sale, the chairman now owns 9,817 shares in the company, valued at approximately $327,691.46. This represents a 96.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 560,698 shares of company stock worth $19,040,697 over the last quarter. 46.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dutch Bros

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management grew its position in Dutch Bros by 52.3% in the third quarter. Hollencrest Capital Management now owns 914 shares of the company's stock worth $29,000 after acquiring an additional 314 shares in the last quarter. Creative Planning boosted its holdings in shares of Dutch Bros by 5.6% in the 2nd quarter. Creative Planning now owns 7,673 shares of the company's stock worth $318,000 after purchasing an additional 405 shares in the last quarter. Keudell Morrison Wealth Management increased its position in shares of Dutch Bros by 4.6% during the 3rd quarter. Keudell Morrison Wealth Management now owns 11,036 shares of the company's stock valued at $353,000 after purchasing an additional 490 shares during the last quarter. Jamison Private Wealth Management Inc. raised its holdings in shares of Dutch Bros by 150.2% during the 3rd quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company's stock valued at $27,000 after buying an additional 500 shares in the last quarter. Finally, Cannon Global Investment Management LLC raised its holdings in shares of Dutch Bros by 7.7% during the 3rd quarter. Cannon Global Investment Management LLC now owns 7,000 shares of the company's stock valued at $224,000 after buying an additional 500 shares in the last quarter. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

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.