Dutch Bros (NYSE:BROS) Stock Price Down 6.6%

Dutch Bros Inc. (NYSE:BROS) shares traded down 6.6% during mid-day trading on Wednesday . The stock traded as low as $38.30 and last traded at $38.51. 606,909 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 2,458,280 shares. The stock had previously closed at $41.25.

Wall Street Analyst Weigh In

BROS has been the topic of several analyst reports. Barclays raised their price target on shares of Dutch Bros from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 8th. Robert W. Baird raised their target price on Dutch Bros from $33.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Guggenheim reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Dutch Bros in a report on Friday, April 5th. TD Cowen raised their price objective on Dutch Bros from $46.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $40.00 target price on shares of Dutch Bros in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.55.

Dutch Bros Stock Performance

The company has a market cap of $6.95 billion, a price-to-earnings ratio of 213.96, a PEG ratio of 6.46 and a beta of 2.53. The firm’s 50 day simple moving average is $37.02 and its 200-day simple moving average is $32.45. 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 posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share for the quarter. Dutch Bros had a net margin of 1.21% and a return on equity of 1.99%. The firm had revenue of $275.10 million for the quarter, compared to analyst estimates of $255.71 million. On average, sell-side analysts predict that Dutch Bros Inc. will post 0.29 EPS for the current year.

Insider Activity

In related news, Chairman Travis Boersma sold 54,359 shares of Dutch Bros stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $36.02, for a total transaction of $1,958,011.18. Following the transaction, the chairman now owns 1,281,743 shares in the company, valued at $46,168,382.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Dutch Bros news, Chairman Travis Boersma sold 54,359 shares of Dutch Bros stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $36.02, for a total transaction of $1,958,011.18. Following the transaction, the chairman now directly owns 1,281,743 shares of the company’s stock, valued at $46,168,382.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Dm Trust Aggregator, Llc sold 166,594 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $36.85, for a total transaction of $6,138,988.90. Following the completion of the sale, the insider now directly owns 1,616,308 shares of the company’s stock, valued at approximately $59,560,949.80. The disclosure for this sale can be found here. Insiders sold 1,228,068 shares of company stock worth $44,765,154 over the last ninety days. Corporate insiders own 46.50% of the company’s stock.

Institutional Investors Weigh In On Dutch Bros

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BROS. Cetera Advisors LLC increased its position in shares of Dutch Bros by 8.8% during the 1st quarter. Cetera Advisors LLC now owns 63,584 shares of the company’s stock worth $2,098,000 after purchasing an additional 5,139 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Dutch Bros by 537.1% during the first quarter. Cetera Investment Advisers now owns 89,619 shares of the company’s stock valued at $2,957,000 after acquiring an additional 75,553 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Dutch Bros in the 1st quarter valued at approximately $319,000. Jaffetilchin Investment Partners LLC acquired a new position in shares of Dutch Bros in the 1st quarter worth approximately $287,000. Finally, California State Teachers Retirement System boosted its position in shares of Dutch Bros by 34.7% during the 1st quarter. California State Teachers Retirement System now owns 67,175 shares of the company’s stock worth $2,217,000 after purchasing an additional 17,290 shares during the period. Hedge funds and other institutional investors own 85.54% of the company’s stock.

About Dutch Bros

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.