Shares of Starbucks Co. (NASDAQ:SBUX – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $102.48.
A number of analysts have weighed in on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Citigroup dropped their price objective on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday.
View Our Latest Research Report on SBUX
Insider Activity
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of SBUX. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter worth approximately $415,167,000. Marshall Wace LLP lifted its stake in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of Starbucks during the 2nd quarter worth $243,910,000. Flossbach Von Storch AG lifted its stake in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Capital World Investors purchased a new position in shares of Starbucks during the 1st quarter worth $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Trading Down 0.5 %
Shares of NASDAQ SBUX opened at $97.15 on Friday. The stock has a market cap of $110.09 billion, a P/E ratio of 27.21, a PEG ratio of 2.14 and a beta of 0.97. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The business’s fifty day simple moving average is $95.38 and its 200-day simple moving average is $84.89.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Starbucks will post 3.55 EPS for the current fiscal year.
Starbucks Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 63.87%.
About Starbucks
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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