TD Cowen Cuts Dutch Bros (NYSE:BROS) Price Target to $59.00

Dutch Bros (NYSE:BROS) had its price target lowered by TD Cowen from $73.00 to $59.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Oppenheimer raised their target price on Dutch Bros from $72.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. DA Davidson reduced their price target on shares of Dutch Bros from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Telsey Advisory Group increased their price objective on shares of Dutch Bros from $66.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Robert W. Baird raised shares of Dutch Bros to a “strong-buy” rating in a report on Monday, August 24th. Finally, Morgan Stanley boosted their target price on shares of Dutch Bros from $87.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.45.

Dutch Bros Trading Up 0.0%

NYSE:BROS opened at $43.91 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.20. Dutch Bros has a 12 month low of $43.29 and a 12 month high of $74.02. The company has a market cap of $7.67 billion, a PE ratio of 60.99, a price-to-earnings-growth ratio of 1.57 and a beta of 2.28. The company has a 50 day simple moving average of $56.65 and a two-hundred day simple moving average of $56.31.

Dutch Bros (NYSE:BROS) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $550.85 million for the quarter, compared to analysts’ expectations of $525.38 million. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%.The company’s revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Research analysts forecast that Dutch Bros will post 0.87 earnings per share for the current year.

Insider Transactions at Dutch Bros

In related news, Director Todd Penegor purchased 2,000 shares of Dutch Bros stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $51.56 per share, for a total transaction of $103,120.00. Following the completion of the transaction, the director directly owned 7,358 shares in the company, valued at $379,378.48. This represents a 37.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 38.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Osterweis Capital Management Inc. purchased a new stake in Dutch Bros in the 2nd quarter worth approximately $27,000. Ancora Advisors LLC bought a new stake in Dutch Bros during the 2nd quarter worth approximately $29,000. Rakuten Securities Inc. lifted its holdings in Dutch Bros by 557.4% during the second quarter. Rakuten Securities Inc. now owns 447 shares of the company’s stock valued at $31,000 after purchasing an additional 379 shares in the last quarter. Ankerstar Wealth LLC purchased a new position in Dutch Bros during the fourth quarter valued at approximately $31,000. Finally, Quarry LP boosted its position in shares of Dutch Bros by 83.5% in the fourth quarter. Quarry LP now owns 600 shares of the company’s stock worth $37,000 after purchasing an additional 273 shares during the period. 85.54% of the stock is owned by hedge funds and other institutional investors.

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.