Short Interest in Dutch Bros Inc. (NYSE:BROS) Declines By 20.6%

Dutch Bros Inc. (NYSE:BROS) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 9,470,000 shares, a decline of 20.6% from the October 31st total of 11,920,000 shares. Approximately 8.6% of the shares of the stock are sold short. Based on an average daily volume of 3,040,000 shares, the short-interest ratio is presently 3.1 days.

Dutch Bros Stock Up 1.1 %

Shares of NYSE BROS traded up $0.58 during trading on Friday, reaching $53.73. 1,223,418 shares of the stock were exchanged, compared to its average volume of 2,826,642. The business’s 50-day moving average price is $39.08 and its 200 day moving average price is $37.28. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 185.39, a price-to-earnings-growth ratio of 3.91 and a beta of 2.47. Dutch Bros has a twelve month low of $25.46 and a twelve month high of $54.59. The company has a quick ratio of 1.68, a current ratio of 1.90 and a debt-to-equity ratio of 0.79.

Dutch Bros (NYSE:BROS) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Dutch Bros had a net margin of 2.54% and a return on equity of 5.48%. The company had revenue of $338.20 million during the quarter, compared to analysts’ expectations of $324.97 million. During the same period in the prior year, the company posted $0.08 EPS. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. As a group, equities analysts forecast that Dutch Bros will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Dutch Bros news, Chairman Travis Boersma sold 3,600 shares of Dutch Bros stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.00, for a total value of $115,200.00. Following the completion of the sale, the chairman now directly owns 430,718 shares of the company’s stock, valued at approximately $13,782,976. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 40,323 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $36.03, for a total value of $1,452,837.69. Following the sale, the insider now owns 125,671 shares in the company, valued at $4,527,926.13. This trade represents a 24.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,065,467 shares of company stock worth $35,434,372 in the last ninety days. Insiders own 46.50% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

Institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. bought a new position in shares of Dutch Bros during the third quarter worth about $224,461,000. Wasatch Advisors LP raised its stake in Dutch Bros by 232.1% during the third quarter. Wasatch Advisors LP now owns 4,128,281 shares of the company’s stock valued at $132,229,000 after buying an additional 2,885,306 shares in the last quarter. Renaissance Technologies LLC bought a new position in Dutch Bros during the 2nd quarter worth approximately $57,435,000. Wellington Management Group LLP grew its position in shares of Dutch Bros by 135.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,983,368 shares of the company’s stock worth $63,527,000 after acquiring an additional 1,141,913 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Dutch Bros by 846.7% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,240,399 shares of the company’s stock valued at $51,353,000 after acquiring an additional 1,109,370 shares during the last quarter. 85.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on BROS. UBS Group increased their price objective on shares of Dutch Bros from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price target on shares of Dutch Bros from $37.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wedbush upped their price objective on Dutch Bros from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Guggenheim upgraded Dutch Bros from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, TD Cowen lifted their price objective on Dutch Bros from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.30.

Dutch Bros Company Profile

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.