TD Securities Reaffirms “Buy” Rating for Dutch Bros (NYSE:BROS)

Dutch Bros (NYSE:BROS)‘s stock had its “buy” rating reaffirmed by stock analysts at TD Securities in a note issued to investors on Friday,Benzinga reports. They currently have a $89.00 target price on the stock. TD Securities’ price objective would suggest a potential upside of 37.30% from the stock’s previous close.

Several other research analysts have also recently commented on BROS. Wells Fargo & Company initiated coverage on shares of Dutch Bros in a research report on Wednesday. They issued an “overweight” rating and a $80.00 target price for the company. Jefferies Financial Group increased their price objective on Dutch Bros from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Baird R W raised Dutch Bros from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. William Blair reissued an “outperform” rating on shares of Dutch Bros in a research note on Tuesday, December 17th. Finally, Piper Sandler lifted their price objective on shares of Dutch Bros from $51.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $76.50.

Dutch Bros Stock Performance

Shares of BROS opened at $64.82 on Friday. The firm has a fifty day moving average of $67.84 and a 200-day moving average of $52.39. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 190.66, a price-to-earnings-growth ratio of 4.23 and a beta of 2.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.58 and a current ratio of 1.76. Dutch Bros has a 1 year low of $26.85 and a 1 year high of $86.88.

Insider Buying and Selling at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 471,718 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $75.91, for a total transaction of $35,808,113.38. Following the sale, the chairman now owns 2,310,834 shares in the company, valued at approximately $175,415,408.94. The trade was a 16.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 262,537 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $74.77, for a total transaction of $19,629,891.49. Following the completion of the transaction, the insider now owns 2,640,779 shares of the company’s stock, valued at approximately $197,451,045.83. The trade was a 9.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,643,632 shares of company stock valued at $201,509,627. Corporate insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Dutch Bros by 18.1% in the third quarter. Victory Capital Management Inc. now owns 23,523 shares of the company’s stock worth $753,000 after buying an additional 3,605 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Dutch Bros by 35.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,527 shares of the company’s stock worth $22,021,000 after acquiring an additional 181,636 shares in the last quarter. Algert Global LLC boosted its position in Dutch Bros by 21.2% during the 3rd quarter. Algert Global LLC now owns 31,602 shares of the company’s stock worth $1,012,000 after acquiring an additional 5,520 shares during the period. The Manufacturers Life Insurance Company grew its stake in Dutch Bros by 46.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 27,957 shares of the company’s stock valued at $895,000 after acquiring an additional 8,873 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Dutch Bros by 16.9% in the 3rd quarter. MetLife Investment Management LLC now owns 3,878 shares of the company’s stock valued at $124,000 after purchasing an additional 562 shares during the period. 85.54% of the stock is currently owned by hedge funds and other institutional investors.

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.