Dutch Bros Inc. (NYSE:BROS) Sees Significant Increase in Short Interest

Dutch Bros Inc. (NYSE:BROS) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 7,330,000 shares, a growth of 7.0% from the May 31st total of 6,850,000 shares. Currently, 7.4% of the company’s shares are sold short. Based on an average daily trading volume, of 2,700,000 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analyst Weigh In

BROS has been the topic of several analyst reports. Piper Sandler raised shares of Dutch Bros from a “neutral” rating to an “overweight” rating and raised their target price for the company from $32.00 to $37.00 in a report on Monday, March 4th. JPMorgan Chase & Co. raised their target price on shares of Dutch Bros from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, June 3rd. TD Cowen increased their price target on shares of Dutch Bros from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Barclays increased 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 note on Wednesday, May 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price target on shares of Dutch Bros in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.30.

Dutch Bros Stock Performance

Shares of BROS traded down $0.01 during mid-day trading on Tuesday, reaching $41.84. 2,468,631 shares of the company’s stock were exchanged, compared to its average volume of 2,465,431. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.29 and a quick ratio of 1.98. The stock has a market capitalization of $7.41 billion, a PE ratio of 232.46, a price-to-earnings-growth ratio of 6.25 and a beta of 2.53. The business’s fifty day simple moving average is $35.69 and its 200-day simple moving average is $32.03. Dutch Bros has a 52-week low of $22.67 and a 52-week high of $42.87.

Dutch Bros (NYSE:BROS) last announced its earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $275.10 million for the quarter, compared to analyst estimates of $255.71 million. Dutch Bros had a net margin of 1.21% and a return on equity of 1.99%. On average, equities research analysts expect that Dutch Bros will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Dutch Bros

In other news, major shareholder Dm Trust Aggregator, Llc sold 166,594 shares of the stock in a transaction dated 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 sale, the insider now owns 1,616,308 shares of the company’s stock, valued at $59,560,949.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Dm Trust Aggregator, Llc sold 166,594 shares of the stock in a transaction dated 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 sale, the insider now owns 1,616,308 shares of the company’s stock, valued at $59,560,949.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Travis Boersma sold 334,069 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $36.85, for a total transaction of $12,310,442.65. Following the sale, the chairman now directly owns 871,764 shares in the company, valued at approximately $32,124,503.40. The disclosure for this sale can be found here. Insiders have sold 1,228,068 shares of company stock valued at $44,765,154 over the last 90 days. 46.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Dutch Bros

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP grew its position in Dutch Bros by 41.8% in the 4th quarter. Allworth Financial LP now owns 1,598 shares of the company’s stock valued at $51,000 after buying an additional 471 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in Dutch Bros by 31.1% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 2,490 shares of the company’s stock valued at $79,000 after acquiring an additional 590 shares during the period. Wealth Management Partners LLC lifted its holdings in Dutch Bros by 4.2% in the first quarter. Wealth Management Partners LLC now owns 18,790 shares of the company’s stock valued at $620,000 after acquiring an additional 756 shares during the period. Transcendent Capital Group LLC acquired a new stake in Dutch Bros in the first quarter valued at $26,000. Finally, Bullseye Asset Management LLC lifted its holdings in Dutch Bros by 20.0% in the fourth quarter. Bullseye Asset Management LLC now owns 6,000 shares of the company’s stock valued at $190,000 after acquiring an additional 1,000 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.