Starbucks (NASDAQ:SBUX) had its target price decreased by Robert W. Baird from $65.00 to $64.00 in a research note issued to investors on Wednesday. Robert W. Baird currently has an outperform rating on the coffee company’s stock.
Several other analysts have also commented on SBUX. BidaskClub lowered Starbucks from a hold rating to a sell rating in a report on Wednesday, June 13th. Stifel Nicolaus dropped their target price on Starbucks from $58.00 to $55.00 and set a hold rating on the stock in a report on Wednesday. Royal Bank of Canada dropped their target price on Starbucks to $63.00 and set an outperform rating on the stock in a report on Wednesday. They noted that the move was a valuation call. Piper Jaffray Companies dropped their target price on Starbucks to $60.00 and set an overweight rating on the stock in a report on Wednesday. Finally, ValuEngine lowered Starbucks from a hold rating to a sell rating in a report on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $61.94.
Starbucks opened at $51.24 on Wednesday, Marketbeat Ratings reports. The stock has a market cap of $69.86 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.50 and a beta of 0.61. Starbucks has a 52 week low of $50.36 and a 52 week high of $61.94. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 1.31.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, April 26th. The coffee company reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.93 billion. Starbucks had a return on equity of 60.33% and a net margin of 18.71%. Starbucks’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. research analysts anticipate that Starbucks will post 2.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Thursday, August 9th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, August 8th. This is an increase from Starbucks’s previous quarterly dividend of $0.30. Starbucks’s dividend payout ratio (DPR) is 58.25%.
Starbucks declared that its board has authorized a stock repurchase plan on Thursday, April 26th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the coffee company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Menora Mivtachim Holdings LTD. lifted its position in shares of Starbucks by 0.7% in the first quarter. Menora Mivtachim Holdings LTD. now owns 648,665 shares of the coffee company’s stock valued at $37,551,000 after acquiring an additional 4,365 shares in the last quarter. Rikoon Group LLC purchased a new position in shares of Starbucks in the first quarter valued at approximately $627,000. Private Vista LLC lifted its position in Starbucks by 48.3% during the first quarter. Private Vista LLC now owns 12,126 shares of the coffee company’s stock worth $702,000 after buying an additional 3,948 shares in the last quarter. Nicola Wealth Management LTD. purchased a new position in Starbucks during the first quarter worth approximately $3,473,000. Finally, Suntrust Banks Inc. lifted its position in Starbucks by 4.7% during the first quarter. Suntrust Banks Inc. now owns 204,346 shares of the coffee company’s stock worth $11,828,000 after buying an additional 9,124 shares in the last quarter. Institutional investors and hedge funds own 71.99% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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