Dutch Bros (NYSE:BROS – Get Free Report) had its target price reduced by stock analysts at TD Cowen from $73.00 to $59.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 36.00% from the stock’s previous close.
Other research analysts also recently issued reports about the stock. Telsey Advisory Group boosted their price objective on shares of Dutch Bros from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Oppenheimer raised their target price on Dutch Bros from $72.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Stephens reiterated an “overweight” rating and issued a $80.00 price target on shares of Dutch Bros in a research note on Thursday, August 6th. Morgan Stanley boosted their price target on Dutch Bros from $87.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, Freedom Capital upgraded Dutch Bros to a “strong-buy” rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.45.
View Our Latest Research Report on BROS
Dutch Bros Price Performance
Dutch Bros (NYSE:BROS – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Dutch Bros had a net margin of 4.91% and a return on equity of 10.01%. The company had revenue of $550.85 million during the quarter, compared to analysts’ expectations of $525.38 million. During the same period in the previous year, the company earned $0.26 EPS. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, analysts anticipate that Dutch Bros will post 0.87 earnings per share for the current fiscal year.
Insider Transactions at Dutch Bros
In related news, Director Todd Penegor acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $51.56 per share, with a total value of $103,120.00. Following the purchase, the director directly owned 7,358 shares in the company, valued at approximately $379,378.48. This trade represents a 37.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 38.90% of the stock is currently owned by corporate insiders.
Institutional Trading of Dutch Bros
Hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. lifted its holdings in Dutch Bros by 0.4% during the first quarter. D.A. Davidson & CO. now owns 57,042 shares of the company’s stock worth $2,890,000 after acquiring an additional 211 shares during the period. AdvisorShares Investments LLC grew its stake in Dutch Bros by 7.2% in the 4th quarter. AdvisorShares Investments LLC now owns 3,164 shares of the company’s stock valued at $194,000 after purchasing an additional 212 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Dutch Bros by 9.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,466 shares of the company’s stock valued at $151,000 after purchasing an additional 221 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Dutch Bros by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 35,124 shares of the company’s stock worth $2,522,000 after purchasing an additional 238 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Dutch Bros by 6.5% during the 3rd quarter. Lazard Asset Management LLC now owns 4,434 shares of the company’s stock worth $232,000 after purchasing an additional 270 shares during the period. Institutional investors own 85.54% of the company’s stock.
About Dutch Bros
Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company has expanded from a single coffee cart into a national chain with locations in more than 20 states.
Dutch Bros’ menu includes specialty espresso-based coffees, cold brew, teas, Dutch Bros Blue Rebel energy drinks, smoothies, lemonades, sodas and other flavored beverages. Its shops emphasize drive-thru convenience, customizable drinks and customer-focused service, with some locations also offering walk-up windows or limited indoor seating.
The company combines company-operated shops with franchised locations, although its growth strategy has increasingly emphasized company-operated stores.
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