Dutch Bros (NYSE:BROS) Sets New 52-Week High on Strong Earnings

Shares of Dutch Bros Inc. (NYSE:BROS) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $47.99 and last traded at $47.29, with a volume of 1395282 shares changing hands. The stock had previously closed at $34.94.

The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $338.20 million for the quarter, compared to analyst estimates of $324.97 million. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BROS. Barclays cut their target price on shares of Dutch Bros from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Robert W. Baird boosted their price objective on shares of Dutch Bros from $37.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday. TD Cowen increased their target price on shares of Dutch Bros from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush raised their target price on Dutch Bros from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Dutch Bros from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.60.

Insiders Place Their Bets

In other Dutch Bros news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $31.60, for a total value of $5,287,154.00. Following the sale, the insider now owns 467,228 shares in the company, valued at approximately $14,764,404.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Travis Boersma sold 38,339 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $33.48, for a total transaction 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 can be accessed through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $31.60, for a total transaction of $5,287,154.00. Following the sale, the insider now owns 467,228 shares of the company’s stock, valued at approximately $14,764,404.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,689,583 shares of company stock worth $55,164,707. 46.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dutch Bros

Several institutional investors and hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Dutch Bros in the 1st quarter worth about $26,000. Arcadia Investment Management Corp MI bought a new stake in shares of Dutch Bros in the second quarter worth approximately $27,000. Jamison Private Wealth Management Inc. grew its stake in shares of Dutch Bros by 150.2% in 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 period. Hollencrest Capital Management increased its position in Dutch Bros by 52.3% during the third quarter. Hollencrest Capital Management now owns 914 shares of the company’s stock valued at $29,000 after acquiring an additional 314 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in Dutch Bros by 3,321.7% in the second quarter. Quest Partners LLC now owns 787 shares of the company’s stock valued at $33,000 after acquiring an additional 764 shares during the period. Institutional investors own 85.54% of the company’s stock.

Dutch Bros Trading Up 28.1 %

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 firm has a market capitalization of $6.90 billion, a P/E ratio of 179.04, a P/E/G ratio of 3.64 and a beta of 2.47. The stock has a 50 day simple moving average of $33.53 and a 200-day simple moving average of $34.99.

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.