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

Dutch Bros Inc. (NYSE:BROS - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.40 and last traded at $59.21, with a volume of 1260001 shares. The stock had previously closed at $55.77.

Analyst Ratings Changes

Several research analysts recently commented on BROS shares. Stifel Nicolaus lifted their target price on shares of Dutch Bros from $53.00 to $62.00 and gave the stock a "buy" rating in a report on Friday. William Blair reiterated an "outperform" rating on shares of Dutch Bros in a research note on Tuesday, December 17th. Barclays raised Dutch Bros from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $38.00 to $70.00 in a research report on Tuesday, January 7th. Baird R W raised Dutch Bros from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, Wedbush increased their price objective on Dutch Bros from $45.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Dutch Bros has a consensus rating of "Buy" and a consensus price target of $57.18.

Dutch Bros Price Performance

The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 203.49, a P/E/G ratio of 3.89 and a beta of 2.71. 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 stock's 50 day simple moving average is $51.98 and its two-hundred day simple moving average is $40.89.

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

Insider Activity

In related news, Chairman Travis Boersma sold 80,720 shares of Dutch Bros stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $36.03, for a total value of $2,908,341.60. Following the completion of the transaction, the chairman now directly owns 125,671 shares of the company's stock, valued at $4,527,926.13. The trade was a 39.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the company's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $36.03, for a total transaction of $1,452,837.69. Following the transaction, the insider now owns 125,671 shares in the company, valued at approximately $4,527,926.13. This trade represents a 24.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 560,698 shares of company stock worth $19,040,697. Corporate insiders own 46.50% of the company's stock.

Hedge Funds Weigh In On Dutch Bros

A number of institutional investors have recently modified their holdings of BROS. Rhumbline Advisers raised its position in shares of Dutch Bros by 6,655.1% during the second quarter. Rhumbline Advisers now owns 84,776 shares of the company's stock worth $3,510,000 after acquiring an additional 83,521 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Dutch Bros by 12.6% during the 2nd quarter. Victory Capital Management Inc. now owns 19,918 shares of the company's stock worth $825,000 after purchasing an additional 2,223 shares during the last quarter. Quest Partners LLC lifted its position in Dutch Bros by 3,321.7% during the 2nd quarter. Quest Partners LLC now owns 787 shares of the company's stock valued at $33,000 after purchasing an additional 764 shares during the period. Headlands Technologies LLC bought a new position in shares of Dutch Bros in the 2nd quarter valued at about $113,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of Dutch Bros during the 2nd quarter worth approximately $2,112,000. 85.54% of the stock is owned by 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.