Stock Traders Purchase High Volume of Put Options on Dutch Bros (NYSE:BROS)

Dutch Bros Inc. (NYSE:BROS) was the recipient of some unusual options trading on Monday. Stock investors bought 9,339 put options on the company. This is an increase of 39% compared to the average volume of 6,727 put options.

Dutch Bros Trading Up 0.4%

Shares of NYSE:BROS traded up $0.16 during mid-day trading on Monday, reaching $41.65. 1,525,398 shares of the company’s stock were exchanged, compared to its average volume of 4,288,908. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 57.78, a PEG ratio of 1.47 and a beta of 2.31. Dutch Bros has a twelve month low of $36.51 and a twelve month high of $74.02. The business’s fifty day moving average price is $43.17 and its 200-day moving average price is $53.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.19 and a current ratio of 1.35.

Dutch Bros (NYSE:BROS) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. Dutch Bros had a return on equity of 10.01% and a net margin of 4.91%. The business had revenue of $550.85 million during the quarter, compared to analyst estimates of $525.38 million. During the same period last year, the company earned $0.26 EPS. Dutch Bros’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, research analysts predict that Dutch Bros will post 0.88 EPS for the current fiscal year.

Insider Transactions at Dutch Bros

In other news, Chairman Travis Boersma sold 145,687 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $44.01, for a total value of $6,411,684.87. Following the completion of the sale, the chairman owned 2,360,091 shares of the company’s stock, valued at approximately $103,867,604.91. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Dm Individual Aggregator, Llc sold 50,709 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $44.01, for a total transaction of $2,231,703.09. Following the completion of the transaction, the insider owned 2,360,091 shares in the company, valued at $103,867,604.91. This trade represents a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 38.90% of the company’s stock.

Hedge Funds Weigh In On Dutch Bros

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in Dutch Bros by 38.0% during the second quarter. Wellington Management Group LLP now owns 3,090,882 shares of the company’s stock valued at $221,956,000 after purchasing an additional 851,075 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new stake in Dutch Bros in the 1st quarter worth about $33,569,000. Hyperion Asset Management Ltd increased its holdings in Dutch Bros by 104.4% in the 3rd quarter. Hyperion Asset Management Ltd now owns 1,222,532 shares of the company’s stock worth $47,141,000 after acquiring an additional 624,488 shares during the last quarter. Bank of America Corp DE raised its stake in Dutch Bros by 33.4% in the 1st quarter. Bank of America Corp DE now owns 1,814,815 shares of the company’s stock valued at $91,939,000 after acquiring an additional 454,036 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Dutch Bros by 58.1% during the first quarter. Bank of New York Mellon Corp now owns 1,044,545 shares of the company’s stock valued at $52,917,000 after purchasing an additional 384,011 shares during the last quarter. 85.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BROS. TD Cowen cut their target price on Dutch Bros from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Telsey Advisory Group boosted their price objective on shares of Dutch Bros from $66.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Seaport Research Partners assumed coverage on Dutch Bros in a research note on Wednesday, September 16th. They set a “buy” rating and a $50.00 target price for the company. Jefferies Financial Group reduced their target price on Dutch Bros from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, September 29th. Finally, Citigroup lowered their price target on Dutch Bros from $86.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.04.

Dutch Bros Company Profile

Dutch Bros Inc is a drive-thru beverage company that operates and franchises coffee shops across the United States. The company is known for its made-to-order drinks, fast service and community-focused brand.

Its menu includes hot, iced and blended coffee beverages, along with specialty drinks such as energy drinks, teas, lemonades, smoothies and other noncoffee refreshments. Dutch Bros also offers packaged products and branded merchandise through select locations and digital channels.

Dutch Bros was founded in 1992 in Grants Pass, Oregon, by brothers Dane and Travis Boersma.