Dutch Bros (NYSE:BROS) Stock Price Target Cut by Robert W. Baird

Key Points

• Robert W. Baird lowered Dutch Bros’ price target from $82 to $60 but maintained an “outperform” rating, implying 55.5% upside from the prior close.
• Analyst sentiment remains positive, with one Strong Buy, 21 Buy and four Hold ratings; the consensus rating is “Moderate Buy” with an average price target of $71.88.
• Dutch Bros exceeded quarterly expectations, reporting $0.33 in EPS versus $0.29 estimated and $550.85 million in revenue, up 32.5% year over year.

Dutch Bros (NYSE:BROS - Get Free Report) had its price objective decreased by equities researchers at Robert W. Baird from $82.00 to $60.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 55.50% from the stock's previous close.

A number of other brokerages also recently commented on BROS. TD Cowen reiterated a "buy" rating and set a $59.00 price target on shares of Dutch Bros in a report on Friday, September 18th. Citigroup reissued a "buy" rating on shares of Dutch Bros in a research note on Thursday, August 6th. JPMorgan Chase & Co. decreased their target price on shares of Dutch Bros from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday. Morgan Stanley lifted their target price on shares of Dutch Bros from $87.00 to $88.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, Telsey Advisory Group boosted their price target on Dutch Bros from $66.00 to $74.00 and gave the company an "outperform" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $71.88.

Dutch Bros Stock Up 0.1%

Shares of NYSE:BROS opened at $38.59 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.35 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6.74 billion, a P/E ratio of 53.59, a P/E/G ratio of 1.36 and a beta of 2.31. Dutch Bros has a 52-week low of $37.40 and a 52-week high of $74.02. The stock's fifty day simple moving average is $49.28 and its 200-day simple moving average is $55.11.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The firm had revenue of $550.85 million during the quarter, compared to analysts' expectations of $525.38 million. During the same quarter last year, the business posted $0.26 EPS. The firm's quarterly revenue was up 32.5% compared to the same quarter last year. As a group, equities research analysts forecast that Dutch Bros will post 0.88 earnings per share for the current fiscal year.

Insider Activity at Dutch Bros

In related news, Director Todd Penegor acquired 2,000 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $51.56 per share, with a total value of $103,120.00. Following the purchase, the director directly owned 7,358 shares in the company, valued at $379,378.48. The trade was a 37.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 38.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dutch Bros

A number of institutional investors have recently bought and sold shares of the stock. Westfield Capital Management Co. LP purchased a new position in Dutch Bros in the fourth quarter valued at approximately $108,948,000. Norges Bank purchased a new stake in Dutch Bros during the fourth quarter worth approximately $96,951,000. Interval Partners LP purchased a new stake in Dutch Bros during the fourth quarter worth approximately $57,276,000. Wellington Management Group LLP increased its position in shares of Dutch Bros by 38.0% in the second quarter. Wellington Management Group LLP now owns 3,090,882 shares of the company's stock worth $221,956,000 after acquiring an additional 851,075 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of Dutch Bros in the first quarter worth $33,569,000. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

About Dutch Bros

Dutch Bros Inc is a drive-thru beverage company that operates the Dutch Bros coffeehouse brand. The company serves a broad menu of handcrafted beverages, including specialty coffees, cold brews, teas, energy drinks, lemonades, smoothies and flavored sodas, along with a selection of snacks and other food items.

Dutch Bros was founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon. From its original pushcart operation, the company developed a drive-thru-focused model built around convenience, customized drinks and customer service.

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