Traders Purchase Large Volume of Put Options on Dutch Bros (NYSE:BROS)

Dutch Bros Inc. (NYSE:BROS) was the target of unusually large options trading on Monday. Investors purchased 9,339 put options on the company. This is an increase of 39% compared to the typical daily volume of 6,727 put options.

Insider Activity at Dutch Bros

In other news, Chairman Travis Boersma sold 145,687 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $44.01, for a total transaction of $6,411,684.87. Following the completion of the transaction, the chairman directly owned 2,360,091 shares in the company, valued at approximately $103,867,604.91. This represents a 5.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Dm Individual Aggregator, Llc sold 50,709 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $44.01, for a total transaction of $2,231,703.09. Following the transaction, the insider owned 2,360,091 shares in the company, valued at $103,867,604.91. This trade represents a 2.10% decrease in their ownership of the stock. 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. 38.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dutch Bros

Several hedge funds and other institutional investors have recently modified their holdings of BROS. Wellington Management Group LLP raised its holdings in shares of Dutch Bros by 38.0% in the 2nd quarter. Wellington Management Group LLP now owns 3,090,882 shares of the company’s stock worth $221,956,000 after buying an additional 851,075 shares in the last quarter. Bank of America Corp DE grew its holdings in Dutch Bros by 33.4% during the 1st quarter. Bank of America Corp DE now owns 1,814,815 shares of the company’s stock worth $91,939,000 after acquiring an additional 454,036 shares during the period. Wasatch Advisors LP boosted its stake in Dutch Bros by 17.8% during the 2nd quarter. Wasatch Advisors LP now owns 1,038,903 shares of the company’s stock worth $74,604,000 after acquiring an additional 157,098 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Dutch Bros by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,204,326 shares of the company’s stock valued at $60,994,000 after purchasing an additional 37,683 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Dutch Bros by 58.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,044,545 shares of the company’s stock worth $52,917,000 after purchasing an additional 384,011 shares during the period. Institutional investors and hedge funds own 85.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Dutch Bros from $82.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, October 2nd. JPMorgan Chase & Co. dropped their price target on Dutch Bros from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. Melius Research reduced their price objective on Dutch Bros from $95.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, September 18th. Royal Bank Of Canada lowered Dutch Bros from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $70.00 to $46.00 in a research report on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of Dutch Bros from $70.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.04.

Dutch Bros Price Performance

Shares of NYSE:BROS traded up $0.16 during trading hours on Monday, hitting $41.65. 1,525,398 shares of the company’s stock traded hands, compared to its average volume of 4,288,908. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.35. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 57.78, a price-to-earnings-growth ratio of 1.47 and a beta of 2.31. Dutch Bros has a 52 week low of $36.51 and a 52 week high of $74.02. The company’s fifty day simple moving average is $43.17 and its two-hundred day simple moving average is $53.93.

Dutch Bros (NYSE:BROS) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $550.85 million during the quarter, compared to the consensus estimate of $525.38 million. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, equities analysts anticipate that Dutch Bros will post 0.88 EPS for the current fiscal year.

About Dutch Bros

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. The company is known for its made-to-order drinks, fast service and community-focused brand.

Its menu includes hot, iced and blended coffee beverages, along with specialty drinks such as energy drinks, teas, lemonades, smoothies and other noncoffee refreshments. Dutch Bros also offers packaged products and branded merchandise through select locations and digital channels.

Dutch Bros was founded in 1992 in Grants Pass, Oregon, by brothers Dane and Travis Boersma.