11 Best Coffee Stocks to Buy Now

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4. Dutch Bros Inc. (NYSE:BROS)

Number of Hedge Fund Holders: 41

Dutch Bros Inc. (NYSE:BROS) operates and franchises drive-thru shops that offer handcrafted beverages. It operates through the Company-Operated Shops, and Franchising and Other segments. The Company-Operated Shops segment manages coffee shop sales, while the Franchising and Other segment specializes in bean and product sales to franchisees.

On March 14, TD Cowen analyst Andrew Charles maintained a Buy rating on Dutch Bros Inc. (NYSE:BROS) and set a price target of $89.00. The analyst said the company has a strong growth trajectory, primarily due to its potential for expansion based on the positive trends surrounding the total addressable market and new store productivity. He expressed optimism about the company’s potential to maintain a positive sales momentum.

In addition, Dutch Bros Inc. (NYSE:BROS) exhibited projected same-store sales growth in 2024 due to various strategic initiatives, such as innovative beverage offerings, effective paid advertising, and the expansion of the Dutch Rewards loyalty program. The analyst estimates that the company is positioned favorably in the market due to its focus on mobile orders and food offerings in the coming years, along with a potential rise in caffeine consumption in an aging population.

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