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

Dutch Bros Inc. (NYSE:BROS) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 10,970,000 shares, a growth of 6.7% from the August 15th total of 10,280,000 shares. Approximately 10.1% of the company’s shares are short sold. Based on an average daily trading volume, of 3,580,000 shares, the short-interest ratio is presently 3.1 days.

Dutch Bros Stock Performance

Shares of NYSE BROS traded down $0.13 during mid-day trading on Wednesday, hitting $34.56. The stock had a trading volume of 2,777,050 shares, compared to its average volume of 2,746,293. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 2.19. The company has a 50 day moving average of $34.66 and a two-hundred day moving average of $34.64. Dutch Bros has a twelve month low of $22.67 and a twelve month high of $43.49. The firm has a market cap of $6.12 billion, a PE ratio of 192.78, a PEG ratio of 2.70 and a beta of 2.49.

Dutch Bros (NYSE:BROS) last released its 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 the consensus estimate of $317.39 million. During the same period in the prior year, the firm earned $0.07 EPS. The firm’s revenue was up 30.0% on a year-over-year basis. Research analysts predict that Dutch Bros will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on BROS. Bank of America upped their target price on Dutch Bros from $44.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Barclays lowered their target price on Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Robert W. Baird reduced their price target on Dutch Bros from $42.00 to $37.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $45.00 price target on shares of Dutch Bros in a research report on Thursday, August 8th. Finally, TD Cowen reaffirmed a “buy” rating and set a $47.00 price target on shares of Dutch Bros in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.73.

Insider Buying and Selling at Dutch Bros

In related news, Chairman Travis Boersma sold 426,891 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the sale, the chairman now owns 467,228 shares in the company, valued at $14,759,732.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $919,294.20. Following the completion of the sale, the insider now owns 432,518 shares in the company, valued at $13,849,226.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Travis Boersma sold 426,891 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the sale, the chairman now owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. The disclosure for this sale can be found here. Insiders sold 1,128,885 shares of company stock worth $36,124,009 over the last 90 days. Company insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Dutch Bros by 35.0% during the 1st quarter. Vanguard Group Inc. now owns 6,412,246 shares of the company’s stock worth $211,604,000 after purchasing an additional 1,661,778 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Dutch Bros during the 2nd quarter worth about $57,435,000. Wasatch Advisors LP purchased a new stake in shares of Dutch Bros during the 1st quarter worth about $41,988,000. Concurrent Investment Advisors LLC boosted its stake in shares of Dutch Bros by 846.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,240,399 shares of the company’s stock worth $51,353,000 after acquiring an additional 1,109,370 shares in the last quarter. Finally, Joho Capital LLC boosted its stake in shares of Dutch Bros by 428.9% during the 1st quarter. Joho Capital LLC now owns 1,364,514 shares of the company’s stock worth $45,029,000 after acquiring an additional 1,106,511 shares in the last quarter. 85.54% of the stock is owned by institutional investors and hedge funds.

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.