Dutch Bros (NYSE:BROS) Cut to Neutral at Piper Sandler

Piper Sandler cut shares of Dutch Bros (NYSE:BROS) from an overweight rating to a neutral rating in a research note published on Monday morning, Marketbeat reports. The brokerage currently has $36.00 price objective on the stock, down from their prior price objective of $41.00.

A number of other brokerages have also recently issued reports on BROS. TD Cowen decreased their target price on Dutch Bros from $50.00 to $47.00 and set a buy rating for the company in a research report on Thursday, August 8th. Barclays decreased their target price on Dutch Bros from $35.00 to $31.00 and set an equal weight rating for the company in a research report on Friday, August 9th. Wedbush reissued an outperform rating and issued a $45.00 target price on shares of Dutch Bros in a research report on Thursday, August 8th. Stifel Nicolaus decreased their price objective on Dutch Bros from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday, August 8th. Finally, UBS Group raised Dutch Bros from a neutral rating to a buy rating and set a $39.00 price objective for the company in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $39.73.

Dutch Bros Trading Down 1.4 %

NYSE:BROS opened at $31.33 on Monday. The stock has a 50-day simple moving average of $37.72 and a 200-day simple moving average of $33.97. The stock has a market cap of $5.55 billion, a P/E ratio of 174.06, a P/E/G ratio of 4.71 and a beta of 2.53. Dutch Bros has a 1 year low of $22.67 and a 1 year high of $43.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.98 and a current ratio of 2.29.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $324.92 million during the quarter, compared to analysts’ expectations of $317.39 million. Dutch Bros had a return on equity of 1.99% and a net margin of 1.21%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. As a group, analysts anticipate that Dutch Bros will post 0.3 earnings per share for the current fiscal year.

Insider Transactions at Dutch Bros

In other news, Chairman Travis Boersma sold 426,891 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the completion of the transaction, the chairman now directly owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Dm Individual Aggregator, Llc sold 167,315 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $31.60, for a total value of $5,287,154.00. Following the completion of the transaction, the insider now directly owns 467,228 shares of the company’s stock, valued at approximately $14,764,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Travis Boersma sold 426,891 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $31.59, for a total value of $13,485,486.69. Following the completion of the transaction, the chairman now directly owns 467,228 shares of the company’s stock, valued at $14,759,732.52. The disclosure for this sale can be found here. In the last three months, insiders sold 875,456 shares of company stock valued at $28,950,929. Corporate insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Several hedge funds have recently bought and sold shares of the company. Creative Planning increased its stake in Dutch Bros by 5.6% in the 2nd quarter. Creative Planning now owns 7,673 shares of the company’s stock valued at $318,000 after purchasing an additional 405 shares in the last quarter. Keudell Morrison Wealth Management increased its position in Dutch Bros by 5.2% during the second quarter. Keudell Morrison Wealth Management now owns 10,546 shares of the company’s stock worth $437,000 after buying an additional 524 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Dutch Bros during the second quarter worth $27,000. Wealth Management Partners LLC increased its position in Dutch Bros by 4.2% during the first quarter. Wealth Management Partners LLC now owns 18,790 shares of the company’s stock worth $620,000 after buying an additional 756 shares in the last quarter. Finally, Quest Partners LLC increased its position in Dutch Bros by 3,321.7% during the second quarter. Quest Partners LLC now owns 787 shares of the company’s stock worth $33,000 after buying an additional 764 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

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.