Stifel Nicolaus Initiates Coverage on Dutch Bros (NYSE:BROS)

Analysts at Stifel Nicolaus initiated coverage on shares of Dutch Bros (NYSE:BROS) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus‘s price target would indicate a potential upside of 34.33% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. TD Cowen dropped their target price on shares of Dutch Bros from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday. Royal Bank Of Canada set a $50.00 price target on shares of Dutch Bros in a research note on Thursday. Wall Street Zen cut shares of Dutch Bros from a “hold” rating to a “sell” rating in a research note on Saturday. Stephens lowered their price target on shares of Dutch Bros from $65.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Melius Research lowered their price target on shares of Dutch Bros from $95.00 to $70.00 and set a “buy” rating for the company in a report on Friday, September 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Dutch Bros presently has an average rating of “Moderate Buy” and an average price target of $61.08.

Dutch Bros Price Performance

Shares of Dutch Bros stock traded up $1.96 during trading on Monday, reaching $35.73. The company’s stock had a trading volume of 762,090 shares, compared to its average volume of 4,370,612. The stock has a 50-day moving average price of $41.44 and a two-hundred day moving average price of $52.88. The stock has a market capitalization of $6.24 billion, a P/E ratio of 45.53, a price-to-earnings-growth ratio of 1.05 and a beta of 1.97. The company has a current ratio of 1.03, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19. Dutch Bros has a one year low of $33.17 and a one year high of $74.02.

Dutch Bros (NYSE:BROS) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Dutch Bros had a net margin of 5.08% and a return on equity of 10.46%. The firm had revenue of $549.84 million for the quarter, compared to analyst estimates of $548.27 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Dutch Bros will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other Dutch Bros news, Chairman Travis Boersma sold 1,032,216 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $44.73, for a total value of $46,171,021.68. Following the transaction, the chairman directly owned 1,366,580 shares of the company’s stock, valued at approximately $61,127,123.40. This trade represents a 43.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Dm Individual Aggregator, Llc sold 359,284 shares of Dutch Bros stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $44.73, for a total transaction of $16,070,773.32. Following the sale, the insider directly owned 1,366,580 shares of the company’s stock, valued at $61,127,123.40. This represents a 20.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 4,044,220 shares of company stock valued at $179,732,644. 38.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Dutch Bros by 38.0% during the second quarter. Wellington Management Group LLP now owns 3,090,882 shares of the company’s stock worth $221,956,000 after purchasing an additional 851,075 shares during the period. Bank of America Corp DE lifted its stake in Dutch Bros by 33.4% in the first quarter. Bank of America Corp DE now owns 1,814,815 shares of the company’s stock valued at $91,939,000 after buying an additional 454,036 shares during the period. Wasatch Advisors LP lifted its stake in Dutch Bros by 17.8% in the second quarter. Wasatch Advisors LP now owns 1,038,903 shares of the company’s stock valued at $74,604,000 after buying an additional 157,098 shares during the period. Dimensional Fund Advisors LP lifted its stake in Dutch Bros by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,204,326 shares of the company’s stock valued at $60,994,000 after buying an additional 37,683 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Dutch Bros by 58.1% during the first quarter. Bank of New York Mellon Corp now owns 1,044,545 shares of the company’s stock worth $52,917,000 after buying an additional 384,011 shares during the last quarter. Institutional investors and hedge funds own 85.54% of the company’s stock.

About Dutch Bros

Dutch Bros Inc is a drive-through beverage company that operates the Dutch Bros coffee shop brand. Founded in 1992 in Grants Pass, Oregon, by brothers Dane and Travis Boersma, the company began as a small coffee pushcart and has grown into a multistate U.S. chain.

Dutch Bros has expanded from its roots in the western United States into additional regions across the country.