Dutch Bros Inc. (NYSE:BROS) Sees Large Growth in Short Interest

Dutch Bros Inc. (NYSE:BROS) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 10,280,000 shares, a growth of 11.0% from the July 31st total of 9,260,000 shares. Currently, 9.4% of the company’s stock are sold short. Based on an average daily volume of 3,580,000 shares, the short-interest ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BROS. Bank of America raised their price target on shares of Dutch Bros from $44.00 to $49.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on Dutch Bros from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Robert W. Baird cut their price target on Dutch Bros from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Dutch Bros in a research note on Thursday, August 8th. Finally, Piper Sandler lowered shares of Dutch Bros from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $41.00 to $36.00 in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.73.

Dutch Bros Price Performance

Shares of NYSE:BROS opened at $31.00 on Friday. Dutch Bros has a 12 month low of $22.67 and a 12 month high of $43.49. The company has a current ratio of 2.29, a quick ratio of 1.98 and a debt-to-equity ratio of 0.86. The stock has a market cap of $5.49 billion, a P/E ratio of 172.22, a P/E/G ratio of 4.71 and a beta of 2.53. The company has a 50 day moving average of $36.79 and a 200 day moving average of $34.23.

Dutch Bros (NYSE:BROS) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The firm had revenue of $324.92 million for the quarter, compared to analysts’ expectations of $317.39 million. Dutch Bros had a net margin of 1.21% and a return on equity of 1.99%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, sell-side analysts forecast that Dutch Bros will post 0.3 EPS for the current fiscal year.

Insider Activity at Dutch Bros

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $32.02, for a total value of $919,294.20. Following the completion of the sale, the insider now directly owns 432,518 shares of the company’s stock, valued at approximately $13,849,226.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $32.02, for a total value of $919,294.20. Following the completion of the transaction, the insider now owns 432,518 shares in the company, valued at approximately $13,849,226.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 426,891 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $31.59, for a total value of $13,485,486.69. Following the sale, the chairman now directly owns 467,228 shares of the company’s stock, valued at $14,759,732.52. The disclosure for this sale can be found here. Insiders have sold 624,116 shares of company stock valued at $19,730,335 over the last ninety days. Corporate insiders own 46.50% of the company’s stock.

Institutional Trading of Dutch Bros

Several institutional investors and hedge funds have recently modified their holdings of BROS. Transcendent Capital Group LLC bought a new position in shares of Dutch Bros in the first quarter worth approximately $26,000. Arcadia Investment Management Corp MI purchased a new position in Dutch Bros in the 2nd quarter worth approximately $27,000. Quest Partners LLC increased its holdings in shares of Dutch Bros by 3,321.7% in the 2nd quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after buying an additional 764 shares during the last quarter. Abound Wealth Management purchased a new stake in shares of Dutch Bros during the 2nd quarter valued at $39,000. Finally, Quarry LP purchased a new stake in shares of Dutch Bros during the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 85.54% of the company’s stock.

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.