Dutch Bros (NYSE:BROS) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Dutch Bros (NYSE:BROS) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Seaport Research Partners began coverage on shares of Dutch Bros in a report on Wednesday, September 16th. They set a “buy” rating and a $50.00 price objective on the stock. Telsey Advisory Group lowered their target price on shares of Dutch Bros from $74.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank Of Canada set a $50.00 price target on shares of Dutch Bros in a research report on Thursday. Weiss Ratings cut shares of Dutch Bros from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Finally, Mizuho set a $55.00 price target on shares of Dutch Bros in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.08.

Dutch Bros Stock Performance

Shares of Dutch Bros stock opened at $36.04 on Friday. Dutch Bros has a 52 week low of $33.17 and a 52 week high of $74.02. The company has a quick ratio of 1.19, a current ratio of 1.35 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $41.16 and a 200-day moving average price of $52.76. The company has a market cap of $6.30 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 1.37 and a beta of 1.97.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. Dutch Bros had a return on equity of 10.68% and a net margin of 5.08%. The company had revenue of $549.84 million for the quarter, compared to analysts’ expectations of $548.27 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Dutch Bros’s quarterly revenue was up 29.8% on a year-over-year basis. Equities analysts anticipate that Dutch Bros will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dutch Bros news, Chairman Travis Boersma sold 1,032,216 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $44.73, for a total value of $46,171,021.68. Following the transaction, the chairman owned 1,366,580 shares of the company’s stock, valued at approximately $61,127,123.40. The trade was a 43.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $44.73, for a total value of $16,070,773.32. Following the completion of the transaction, the insider owned 1,366,580 shares of the company’s stock, valued at $61,127,123.40. This trade represents a 20.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,044,220 shares of company stock worth $179,732,644 over the last quarter. 38.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dutch Bros

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in 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 buying an additional 851,075 shares during the last quarter. Bank of America Corp DE raised its position 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 worth $91,939,000 after acquiring an additional 454,036 shares during the period. Hyperion Asset Management Ltd raised its position in Dutch Bros by 104.4% in the third quarter. Hyperion Asset Management Ltd now owns 1,222,532 shares of the company’s stock worth $47,141,000 after acquiring an additional 624,488 shares during the period. Dimensional Fund Advisors LP raised its position 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 worth $60,994,000 after acquiring 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 first quarter. Bank of New York Mellon Corp now owns 1,044,545 shares of the company’s stock valued at $52,917,000 after acquiring an additional 384,011 shares during the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

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.