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

14 Oct 2024, 20:36 by Amy Steele · The Cerbat Gem

Dutch Bros Inc. (NYSE:BROS – Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 13,150,000 shares, a growth of 18.6% from the September 15th total of 11,090,000 shares. Approximately 12.0% of the company’s shares are sold short. Based on an average daily volume of 3,310,000 shares, the short-interest ratio is currently 4.0 days.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BROS shares. Robert W. Baird dropped their price objective on Dutch Bros from $42.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Piper Sandler cut shares of Dutch Bros from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $41.00 to $36.00 in a report on Monday, August 19th. TD Cowen reissued a “buy” rating and set a $47.00 target price on shares of Dutch Bros in a research report on Thursday, September 12th. Guggenheim upgraded Dutch Bros from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Wedbush restated an “outperform” rating and issued a $45.00 price objective on shares of Dutch Bros in a research note on Monday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Dutch Bros currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.20.

Check Out Our Latest Research Report on BROS

Insider Activity at Dutch Bros

In other Dutch Bros news, Chairman Travis Boersma sold 426,891 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $31.59, for a total transaction of $13,485,486.69. Following the completion of the transaction, the chairman now owns 467,228 shares in the company, valued at approximately $14,759,732.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Dutch Bros news, Chairman Travis Boersma sold 426,891 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $31.59, for a total value of $13,485,486.69. Following the transaction, the chairman now directly owns 467,228 shares of the company’s stock, valued at approximately $14,759,732.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Dm Individual Aggregator, Llc sold 28,710 shares of Dutch Bros stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $32.02, for a total transaction of $919,294.20. Following the completion of the sale, the insider now owns 432,518 shares of the company’s stock, valued at $13,849,226.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,128,885 shares of company stock worth $36,124,009 over the last three months. Company insiders own 46.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BROS. Vanguard Group Inc. boosted its stake in shares of Dutch Bros by 35.0% during the 1st quarter. Vanguard Group Inc. now owns 6,412,246 shares of the company’s stock valued at $211,604,000 after purchasing an additional 1,661,778 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Dutch Bros in the 2nd quarter valued at approximately $57,435,000. Wasatch Advisors LP bought a new position in Dutch Bros in the first quarter worth $41,988,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Dutch Bros by 846.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 1,240,399 shares of the company’s stock valued at $51,353,000 after buying an additional 1,109,370 shares in the last quarter. Finally, Joho Capital LLC increased its stake in shares of Dutch Bros by 428.9% in the 1st quarter. Joho Capital LLC now owns 1,364,514 shares of the company’s stock worth $45,029,000 after acquiring an additional 1,106,511 shares in the last quarter. Hedge funds and other institutional investors own 85.54% of the company’s stock.

Dutch Bros Price Performance

Shares of BROS traded up $1.89 during midday trading on Monday, reaching $34.24. The stock had a trading volume of 3,077,295 shares, compared to its average volume of 2,750,714. The company has a current ratio of 2.19, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 190.22, a price-to-earnings-growth ratio of 2.55 and a beta of 2.49. The company’s 50-day moving average is $32.31 and its 200 day moving average is $34.65. Dutch Bros has a 12-month low of $23.31 and a 12-month high of $43.49.

Dutch Bros (NYSE:BROS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Dutch Bros had a net margin of 1.95% and a return on equity of 3.99%. The company had revenue of $324.92 million during the quarter, compared to analysts’ expectations of $317.39 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 30.0% on a year-over-year basis. On average, equities analysts predict that Dutch Bros will post 0.32 EPS for the current fiscal year.

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