TD Cowen Reaffirms Hold Rating for Dutch Bros (NYSE:BROS)

Dutch Bros (NYSE:BROS)‘s stock had its “hold” rating reissued by TD Cowen in a report released on Friday, Benzinga reports. They currently have a $33.00 price target on the stock. TD Cowen’s target price suggests a potential upside of 14.19% from the stock’s previous close.

Several other research firms also recently issued reports on BROS. JPMorgan Chase & Co. raised their price target on shares of Dutch Bros from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Guggenheim reaffirmed a “neutral” rating and set a $30.00 price target on shares of Dutch Bros in a research note on Friday, April 5th. William Blair reaffirmed an “outperform” rating on shares of Dutch Bros in a research note on Thursday, February 22nd. Piper Sandler raised shares of Dutch Bros from a “neutral” rating to an “overweight” rating and raised their price target for the company from $32.00 to $37.00 in a research note on Monday, March 4th. Finally, Barclays dropped their price target on shares of Dutch Bros from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Dutch Bros currently has an average rating of “Moderate Buy” and a consensus target price of $34.44.

Dutch Bros Price Performance

NYSE:BROS traded up $0.01 on Friday, hitting $28.90. The company had a trading volume of 447,363 shares, compared to its average volume of 1,935,656. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 962.00, a PEG ratio of 4.42 and a beta of 2.41. The company has a current ratio of 1.49, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $31.23 and a two-hundred day moving average of $28.97. Dutch Bros has a 52 week low of $22.67 and a 52 week high of $36.17.

Dutch Bros (NYSE:BROS) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $254.12 million during the quarter, compared to the consensus estimate of $254.80 million. Dutch Bros had a net margin of 0.18% and a negative return on equity of 0.54%. On average, research analysts anticipate that Dutch Bros will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of Dutch Bros stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $28.90, for a total transaction of $231,200,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Travis Boersma sold 98,017 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $36.04, for a total transaction of $3,532,532.68. Following the transaction, the chairman now directly owns 672,439 shares of the company’s stock, valued at $24,234,701.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tsg7 A. Management Llc sold 8,000,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $28.90, for a total transaction of $231,200,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,907,188 shares of company stock worth $561,438,392. 46.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BROS. FMR LLC lifted its position in shares of Dutch Bros by 42.9% during the third quarter. FMR LLC now owns 8,581,751 shares of the company’s stock valued at $199,526,000 after purchasing an additional 2,578,145 shares in the last quarter. Wasatch Advisors LP bought a new position in shares of Dutch Bros during the first quarter valued at about $41,988,000. Vanguard Group Inc. raised its position in Dutch Bros by 32.1% in the third quarter. Vanguard Group Inc. now owns 4,614,550 shares of the company’s stock worth $107,288,000 after acquiring an additional 1,120,908 shares during the period. American Century Companies Inc. raised its position in Dutch Bros by 191.7% in the third quarter. American Century Companies Inc. now owns 1,177,148 shares of the company’s stock worth $27,369,000 after acquiring an additional 773,616 shares during the period. Finally, Invesco Ltd. bought a new stake in Dutch Bros in the third quarter worth about $11,549,000. 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.