Dutch Bros Inc. (NYSE:BROS - Get Free Report)'s share price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $57.79, but opened at $69.56. Dutch Bros shares last traded at $70.92, with a volume of 3,956,812 shares trading hands.
The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.08. Dutch Bros had a net margin of 3.20% and a return on equity of 7.73%. 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 business earned $0.19 EPS. Dutch Bros's quarterly revenue was up 28.0% on a year-over-year basis.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on BROS. Royal Bank Of Canada began coverage on shares of Dutch Bros in a research note on Wednesday, May 14th. They issued an "outperform" rating and a $83.00 price target on the stock. UBS Group decreased their price target on shares of Dutch Bros from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. TD Securities reiterated a "buy" rating and issued a $78.00 price target on shares of Dutch Bros in a research note on Thursday, May 8th. Robert W. Baird increased their target price on shares of Dutch Bros from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, Bank of America increased their target price on shares of Dutch Bros from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $77.24.
Read Our Latest Report on BROS
Insider Buying and Selling
In other 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 completion of the sale, the chairman owned 1,940,245 shares of the company's stock, valued at approximately $129,647,170.90. This represents a 27.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 159,254 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $66.82, for a total transaction of $10,641,352.28. Following the sale, the insider directly owned 1,940,245 shares of the company's stock, valued at approximately $129,647,170.90. This trade represents a 7.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,465,214 shares of company stock valued at $237,721,138. 42.40% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Dutch Bros
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC lifted its stake in Dutch Bros by 638.6% in the 4th quarter. Coppell Advisory Solutions LLC now owns 517 shares of the company's stock valued at $27,000 after purchasing an additional 447 shares during the last quarter. AdvisorNet Financial Inc bought a new position in Dutch Bros in the 1st quarter valued at approximately $31,000. Cullen Frost Bankers Inc. bought a new position in Dutch Bros in the 1st quarter valued at approximately $31,000. Banque Transatlantique SA bought a new position in Dutch Bros in the 1st quarter valued at approximately $38,000. Finally, Kiker Wealth Management LLC lifted its stake in Dutch Bros by 4,423.1% in the 2nd quarter. Kiker Wealth Management LLC now owns 588 shares of the company's stock valued at $40,000 after purchasing an additional 575 shares during the last quarter. Institutional investors own 85.54% of the company's stock.
Dutch Bros Stock Performance
The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.75 and a current ratio of 1.95. The company's 50 day moving average is $66.06 and its 200 day moving average is $65.48. The firm has a market cap of $11.66 billion, a P/E ratio of 181.89, a P/E/G ratio of 3.18 and a beta of 2.63.
About Dutch Bros
(
Get Free Report)
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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