Dutch Bros Inc. (NYSE:BROS) Receives $77.82 Average Target Price from Brokerages

Key Points

• Dutch Bros Inc. has been assigned an average recommendation of "Buy" by twenty brokerages, with 16 analysts recommending a buy and 2 giving a strong buy rating, while setting an average 12-month price target of $77.82.
• Recent insider transactions revealed major shareholder Dm Individual Aggregator, LLC and Chairman Travis Boersma sold significant portions of their stock, representing decreases of 18.29% and 27.14% in ownership respectively.
• The company's recent earnings report exceeded expectations, with earnings per share of $0.26 against a consensus estimate of $0.18, and revenue of $415.81 million, marking an increase of 28.0% year-over-year.

Shares of Dutch Bros Inc. (NYSE:BROS - Get Free Report) have received an average recommendation of "Buy" from the twenty research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $77.8235.

Several research firms have commented on BROS. Stifel Nicolaus decreased their target price on shares of Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Barclays upped their price objective on shares of Dutch Bros from $84.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. CICC Research initiated coverage on shares of Dutch Bros in a report on Monday, June 30th. They set an "outperform" rating and a $80.00 price objective for the company. Robert W. Baird upped their price objective on shares of Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $84.00 price objective (up from $80.00) on shares of Dutch Bros in a report on Thursday, August 7th.

Insiders Place Their Bets

In other news, major shareholder Dm Individual Aggregator, Llc sold 531,526 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $72.02, for a total value of $38,280,502.52. Following the completion of the sale, the insider owned 2,373,933 shares of the company's stock, valued at approximately $170,970,654.66. The trade was a 18.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Travis Boersma sold 722,841 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total transaction of $48,300,235.62. Following the sale, the chairman directly owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. This represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,465,214 shares of company stock worth $237,721,138. 42.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP lifted its holdings in shares of Dutch Bros by 139.2% in the 2nd quarter. Marshall Wace LLP now owns 2,509,767 shares of the company's stock worth $171,593,000 after purchasing an additional 1,460,376 shares in the last quarter. Norges Bank bought a new stake in Dutch Bros in the 2nd quarter valued at about $93,525,000. BNP Paribas Financial Markets grew its holdings in Dutch Bros by 1,572.2% during the 1st quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company's stock valued at $70,661,000 after buying an additional 1,076,045 shares in the last quarter. Invesco Ltd. grew its holdings in Dutch Bros by 70.9% during the 2nd quarter. Invesco Ltd. now owns 2,333,142 shares of the company's stock valued at $159,517,000 after buying an additional 967,861 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Dutch Bros by 29.9% during the first quarter. 1832 Asset Management L.P. now owns 3,420,200 shares of the company's stock worth $211,163,000 after purchasing an additional 788,100 shares in the last quarter. Institutional investors and hedge funds own 85.54% of the company's stock.

Dutch Bros Stock Down 6.0%

Dutch Bros stock traded down $4.06 during trading hours on Monday, hitting $63.48. The company had a trading volume of 2,791,357 shares, compared to its average volume of 3,203,804. The firm has a market capitalization of $10.44 billion, a P/E ratio of 134.86, a price-to-earnings-growth ratio of 4.37 and a beta of 2.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.42. The firm's fifty day moving average is $65.73 and its 200-day moving average is $65.75. Dutch Bros has a fifty-two week low of $30.30 and a fifty-two week high of $86.88.

Dutch Bros (NYSE:BROS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $415.81 million during the quarter, compared to the consensus estimate of $403.24 million. Dutch Bros had a net margin of 3.94% and a return on equity of 8.86%. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, research analysts forecast that Dutch Bros will post 0.57 earnings per share for the current year.

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.