Dutch Bros (NYSE:BROS) Given New $84.00 Price Target at Bank of America

Key Points

• Bank of America raised its price target for Dutch Bros from $80.00 to $84.00, reflecting a potential upside of 44.93% from its previous close, while maintaining an "overweight" rating on the stock.
• Institutional investors have increasingly bolstered their positions in Dutch Bros, with major players like FMR LLC and BNP Paribas significantly raising their stakes in the company.
• Dutch Bros reported $0.26 earnings per share for its recent quarter, exceeding analyst expectations and indicating a 28.0% year-over-year revenue growth.

Dutch Bros (NYSE:BROS - Get Free Report) had its target price hoisted by Bank of America from $80.00 to $84.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Bank of America's price objective points to a potential upside of 44.93% from the company's previous close.

Several other equities analysts have also recently weighed in on BROS. Melius Research raised shares of Dutch Bros to a "strong-buy" rating in a research report on Monday, July 14th. Morgan Stanley reaffirmed an "overweight" rating on shares of Dutch Bros in a report on Thursday. Stifel Nicolaus reduced their target price on Dutch Bros from $85.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 8th. TD Securities reiterated a "buy" rating and set a $78.00 price target on shares of Dutch Bros in a report on Thursday, May 8th. Finally, The Goldman Sachs Group began coverage on Dutch Bros in a research note on Thursday, June 26th. They issued a "neutral" rating and a $75.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $76.76.

Dutch Bros Trading Up 0.9%

BROS opened at $57.96 on Thursday. The company has a market cap of $9.53 billion, a P/E ratio of 148.62, a price-to-earnings-growth ratio of 3.18 and a beta of 2.63. The company has a fifty day moving average price of $66.06 and a two-hundred day moving average price of $65.48. The company has a current ratio of 1.95, a quick ratio of 1.75 and a debt-to-equity ratio of 0.80. Dutch Bros has a 1-year low of $26.96 and a 1-year high of $86.88.

Dutch Bros (NYSE:BROS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. Dutch Bros had a return on equity of 7.73% and a net margin of 3.20%. The business had revenue of $415.81 million for the quarter, compared to analyst estimates of $403.24 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The company's quarterly revenue was up 28.0% on a year-over-year basis. Analysts predict that Dutch Bros will post 0.57 EPS for the current fiscal year.

Insider Activity at Dutch Bros

In related news, Chairman Travis Boersma sold 722,841 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 in the company, valued at approximately $129,647,170.90. This represents a 27.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of Dutch Bros stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $66.82, for a total transaction of $10,641,352.28. Following the completion of the transaction, the insider owned 1,940,245 shares of the company's stock, valued at $129,647,170.90. This represents a 7.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 3,465,214 shares of company stock worth $237,721,138. Insiders own 42.40% of the company's stock.

Institutional Trading of Dutch Bros

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its stake in Dutch Bros by 98.1% in the fourth quarter. FMR LLC now owns 6,516,479 shares of the company's stock valued at $341,333,000 after purchasing an additional 3,227,435 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Dutch Bros by 1,572.2% in the first quarter. BNP Paribas Financial Markets now owns 1,144,488 shares of the company's stock valued at $70,661,000 after acquiring an additional 1,076,045 shares during the last quarter. 1832 Asset Management L.P. raised its position in 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 valued at $211,163,000 after purchasing an additional 788,100 shares in the last quarter. AQR Capital Management LLC lifted its position in Dutch Bros by 421.1% in the 1st quarter. AQR Capital Management LLC now owns 810,273 shares of the company's stock worth $48,843,000 after buying an additional 654,794 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Dutch Bros in the 2nd quarter worth approximately $44,380,000. Institutional investors own 85.54% of the company's stock.

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.

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