Zacks Investment Research Lowers Dutch Bros (NYSE:BROS) to Sell

Zacks Investment Research lowered shares of Dutch Bros (NYSE:BROSGet Rating) from a hold rating to a sell rating in a research note issued to investors on Monday morning, Zacks.com reports.

According to Zacks, “Dutch Bros Inc. is an operator and franchisor of drive-thru shops which focus on serving high QUALITY, hand-crafted beverages with unparalleled SPEED and superior SERVICE. Dutch Bros Inc. is based in GRANTS PASS, Ore. “

BROS has been the subject of a number of other research reports. Piper Sandler lowered their price objective on Dutch Bros from $85.00 to $75.00 and set an overweight rating for the company in a research note on Tuesday, April 5th. Robert W. Baird lowered their price objective on Dutch Bros from $60.00 to $30.00 in a research note on Thursday, May 12th. Gordon Haskett initiated coverage on Dutch Bros in a research note on Wednesday, April 13th. They set a buy rating and a $64.00 price objective for the company. Stifel Nicolaus lowered Dutch Bros from a buy rating to a hold rating and lowered their price objective for the company from $70.00 to $30.00 in a research note on Thursday, May 12th. Finally, Cowen lowered their price objective on Dutch Bros from $65.00 to $35.00 in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $50.91.

BROS stock opened at $30.80 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.40 and a debt-to-equity ratio of 1.13. Dutch Bros has a 1 year low of $20.05 and a 1 year high of $81.40. The stock has a 50-day simple moving average of $47.30 and a 200-day simple moving average of $49.80.

Dutch Bros (NYSE:BROSGet Rating) last posted its earnings results on Wednesday, May 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $144.15 million. On average, research analysts expect that Dutch Bros will post -0.05 earnings per share for the current fiscal year.

In related news, COO Brian Maxwell sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $60.44, for a total value of $725,280.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Charles Jemley sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $54.08, for a total value of $270,400.00. Following the completion of the sale, the chief financial officer now directly owns 1,252,032 shares in the company, valued at approximately $67,709,890.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,222,250 shares of company stock worth $267,655,469.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Van Hulzen Asset Management LLC bought a new stake in shares of Dutch Bros in the 1st quarter worth approximately $204,000. Virtu Financial LLC increased its position in Dutch Bros by 83.9% in the 1st quarter. Virtu Financial LLC now owns 41,504 shares of the company’s stock valued at $2,294,000 after acquiring an additional 18,938 shares during the period. SkyView Investment Advisors LLC acquired a new stake in Dutch Bros in the 1st quarter valued at approximately $202,000. Royal Bank of Canada increased its position in Dutch Bros by 75.7% in the 1st quarter. Royal Bank of Canada now owns 16,520 shares of the company’s stock valued at $913,000 after acquiring an additional 7,119 shares during the period. Finally, Steadfast Capital Management LP acquired a new stake in Dutch Bros in the 1st quarter valued at approximately $12,187,000.

About Dutch Bros (Get Rating)

Dutch Bros Inc operates and franchises drive-thru shops. It offers Dutch Bros hot and cold espresso-based beverages, and cold brew coffee products, as well as Blue Rebel energy drinks, tea, lemonade, smoothies, and other beverages through company-operated shops and online channels. As of December 31, 2021, it operated 538 drive-thru coffee locations in Arizona, California, Colorado, Idaho, Kansas, Nevada, New Mexico, Oklahoma, Oregon, Texas, Utah, and Washington.

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