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

Shares of Dutch Bros Inc. (NYSE:BROS - Get Free Report) hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $44.00 to $48.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dutch Bros traded as high as $47.99 and last traded at $47.29, with a volume of 1395282 shares traded. The stock had previously closed at $34.94.

A number of other research firms have also recently commented on BROS. Barclays decreased their price objective on Dutch Bros from $35.00 to $31.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. TD Cowen increased their price target on Dutch Bros from $47.00 to $53.00 and gave the stock a "buy" rating in a report on Thursday. Piper Sandler lowered shares of Dutch Bros from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $41.00 to $36.00 in a report on Monday, August 19th. UBS Group increased their target price on shares of Dutch Bros from $39.00 to $44.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Guggenheim raised shares of Dutch Bros from a "neutral" rating to a "buy" rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $43.60.

Insiders Place Their Bets

In other Dutch Bros news, Chairman Travis Boersma sold 38,339 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $33.48, for a total value of $1,283,589.72. Following the sale, the chairman now owns 15,610 shares of the company's stock, valued at $522,622.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Dutch Bros news, Chairman Travis Boersma sold 38,339 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $33.48, for a total value of $1,283,589.72. Following the sale, the chairman now directly owns 15,610 shares of the company's stock, valued at approximately $522,622.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of Dutch Bros stock in a transaction on Monday, August 19th. The stock was sold at an average price of $31.60, for a total transaction of $5,287,154.00. Following the sale, the insider now directly owns 467,228 shares of the company's stock, valued at approximately $14,764,404.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,689,583 shares of company stock worth $55,164,707 over the last 90 days. Corporate insiders own 46.50% of the company's stock.

Institutional Investors Weigh In On Dutch Bros

Several hedge funds and other institutional investors have recently made changes to their positions in BROS. Hollencrest Capital Management lifted its holdings in shares of Dutch Bros by 52.3% in the 3rd quarter. Hollencrest Capital Management now owns 914 shares of the company's stock valued at $29,000 after purchasing an additional 314 shares during the last quarter. Creative Planning lifted its stake in Dutch Bros by 5.6% in the second quarter. Creative Planning now owns 7,673 shares of the company's stock valued at $318,000 after buying an additional 405 shares during the last quarter. Keudell Morrison Wealth Management boosted its holdings in shares of Dutch Bros by 4.6% in the third quarter. Keudell Morrison Wealth Management now owns 11,036 shares of the company's stock valued at $353,000 after acquiring an additional 490 shares during the period. Jamison Private Wealth Management Inc. grew its position in shares of Dutch Bros by 150.2% during the third quarter. Jamison Private Wealth Management Inc. now owns 833 shares of the company's stock worth $27,000 after acquiring an additional 500 shares during the last quarter. Finally, Cannon Global Investment Management LLC increased its holdings in shares of Dutch Bros by 7.7% in the 3rd quarter. Cannon Global Investment Management LLC now owns 7,000 shares of the company's stock valued at $224,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 85.54% of the company's stock.

Dutch Bros Stock Performance

The company has a current ratio of 2.19, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 179.08, a PEG ratio of 3.64 and a beta of 2.47. The stock's 50 day moving average is $33.24 and its two-hundred day moving average is $34.92.

Dutch Bros (NYSE:BROS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. Dutch Bros had a return on equity of 3.99% and a net margin of 1.95%. The firm had revenue of $324.92 million for the quarter, compared to analysts' expectations of $317.39 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm's revenue for the quarter was up 30.0% on a year-over-year basis. Analysts anticipate that Dutch Bros Inc. will post 0.33 earnings per share for the current fiscal year.

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.