Citigroup Begins Coverage on Dutch Bros (NYSE:BROS)

Citigroup started coverage on shares of Dutch Bros (NYSE:BROS) in a research note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $82.00 price target on the stock. Citigroup’s price objective indicates a potential upside of 40.91% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Barclays raised their target price on shares of Dutch Bros from $72.00 to $76.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Morgan Stanley cut their price target on Dutch Bros from $84.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Royal Bank Of Canada boosted their target price on shares of Dutch Bros from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, December 3rd. Wells Fargo & Company decreased their price target on shares of Dutch Bros from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Finally, Stifel Nicolaus cut their price objective on shares of Dutch Bros from $82.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Dutch Bros presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.19.

Dutch Bros Stock Up 0.6%

Shares of NYSE:BROS traded up $0.37 during trading on Monday, reaching $58.19. 3,599,748 shares of the stock traded hands, compared to its average volume of 3,118,834. Dutch Bros has a 52-week low of $47.16 and a 52-week high of $86.88. The stock has a market cap of $9.57 billion, a P/E ratio of 116.04, a price-to-earnings-growth ratio of 2.31 and a beta of 2.55. The stock has a 50-day moving average of $60.62 and a two-hundred day moving average of $59.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.32 and a current ratio of 1.52.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Dutch Bros had a return on equity of 8.91% and a net margin of 4.04%.The firm had revenue of $423.58 million during the quarter, compared to analysts’ expectations of $414.81 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The company’s revenue was up 25.3% on a year-over-year basis. As a group, sell-side analysts expect that Dutch Bros will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Travis Boersma sold 1,678,616 shares of Dutch Bros stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $55.44, for a total transaction of $93,062,471.04. Following the sale, the chairman owned 9,817 shares in the company, valued at $544,254.48. This trade represents a 99.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Dm Individual Aggregator, Llc sold 648,089 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $55.44, for a total transaction of $35,930,054.16. Following the transaction, the insider owned 9,817 shares of the company’s stock, valued at approximately $544,254.48. This represents a 98.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,465,214 shares of company stock valued at $189,800,291 in the last quarter. 42.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Osterweis Capital Management Inc. purchased a new stake in Dutch Bros during the 2nd quarter valued at $27,000. Rakuten Securities Inc. lifted its holdings in shares of Dutch Bros by 557.4% in the 2nd quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock worth $31,000 after acquiring an additional 379 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Dutch Bros during the 4th quarter worth about $31,000. Kiker Wealth Management LLC lifted its stake in Dutch Bros by 4,423.1% in the second quarter. Kiker Wealth Management LLC now owns 588 shares of the company’s stock worth $40,000 after purchasing an additional 575 shares during the last quarter. Finally, MAI Capital Management grew its stake in shares of Dutch Bros by 139.0% during the third quarter. MAI Capital Management now owns 834 shares of the company’s stock valued at $44,000 after buying an additional 485 shares during the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Company Profile

Dutch Bros Coffee, trading on the NYSE under the ticker BROS, is an American drive-through coffee chain known for its quick-service model and community-focused brand. Founded in 1992 by brothers Dane and Travis Boersma in Grants Pass, Oregon, the company began as a single coffee stand and has since expanded its footprint across numerous U.S. markets. Dutch Bros specializes in handcrafted espresso drinks, drip coffee, cold brew, energy drinks, smoothies, teas, and a variety of signature “Dutch Freeze” and “Dutch Frost” blended beverages.

The company operates a mix of company-owned and franchised locations, placing a strong emphasis on speed and customer engagement.