Dutch Bros (NYSE:BROS) Hits New 52-Week High After Analyst Upgrade

Dutch Bros Inc. (NYSE:BROS - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $58.00 to $80.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dutch Bros traded as high as $82.47 and last traded at $82.69, with a volume of 145733 shares traded. The stock had previously closed at $64.71.

BROS has been the subject of a number of other research reports. Jefferies Financial Group raised their price target on Dutch Bros from $60.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Baird R W raised shares of Dutch Bros from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Piper Sandler raised their price objective on shares of Dutch Bros from $51.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday. Wedbush upped their target price on Dutch Bros from $65.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Bank of America increased their target price on Dutch Bros from $61.00 to $72.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $74.83.

Hedge Funds Weigh In On Dutch Bros

Several large investors have recently modified their holdings of the stock. Numerai GP LLC grew its position in Dutch Bros by 14.8% during the 4th quarter. Numerai GP LLC now owns 19,643 shares of the company's stock valued at $1,029,000 after purchasing an additional 2,528 shares during the last quarter. Obermeyer Wealth Partners bought a new position in shares of Dutch Bros in the fourth quarter worth approximately $241,000. Millennium Management LLC grew its holdings in shares of Dutch Bros by 7.5% during the fourth quarter. Millennium Management LLC now owns 1,295,545 shares of the company's stock valued at $67,861,000 after buying an additional 90,166 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Dutch Bros during the fourth quarter valued at approximately $2,585,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Dutch Bros during the fourth quarter valued at approximately $485,000. Hedge funds and other institutional investors own 85.54% of the company's stock.

Dutch Bros Stock Performance

The company has a market capitalization of $12.62 billion, a PE ratio of 282.26, a price-to-earnings-growth ratio of 3.88 and a beta of 2.73. The company has a current ratio of 1.90, a quick ratio of 1.68 and a debt-to-equity ratio of 0.79. The business's fifty day moving average is $58.89 and its two-hundred day moving average is $44.92.

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.