Starbucks (NASDAQ:SBUX) had its price objective decreased by Stephens from $58.00 to $53.00 in a research note released on Monday. Stephens currently has an equal weight rating on the coffee company’s stock.
A number of other brokerages have also weighed in on SBUX. Jefferies Financial Group cut their price objective on Starbucks from $69.00 to $61.00 and set a buy rating on the stock in a research report on Tuesday, June 26th. They noted that the move was a valuation call. Sanford C. Bernstein cut their price objective on Starbucks from $64.00 to $58.00 and set a market perform rating on the stock in a research report on Tuesday, June 26th. JPMorgan Chase & Co. cut their price objective on Starbucks from $64.00 to $61.00 and set an overweight rating on the stock in a research report on Thursday, June 21st. Barclays cut their price objective on Starbucks to $60.00 in a research report on Wednesday, June 20th. Finally, Robert W. Baird cut their price objective on Starbucks from $65.00 to $64.00 and set an outperform rating on the stock in a research report on Wednesday, June 20th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $61.48.
Starbucks opened at $48.61 on Monday, according to Marketbeat. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. Starbucks has a 1 year low of $47.37 and a 1 year high of $61.94. The company has a market cap of $67.30 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.45 and a beta of 0.65.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Starbucks had a return on equity of 60.33% and a net margin of 18.71%. The business had revenue of $6.03 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same period last year, the company earned $0.45 EPS. Starbucks’s revenue for the quarter was up 13.9% compared to the same quarter last year. research analysts forecast 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 paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, August 8th. This is a boost from Starbucks’s previous quarterly dividend of $0.30. Starbucks’s dividend payout ratio (DPR) is presently 58.25%.
Starbucks declared that its Board of Directors has initiated a share buyback plan on Thursday, April 26th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the coffee company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Large investors have recently made changes to their positions in the business. Bedel Financial Consulting Inc. purchased a new position in Starbucks during the first quarter valued at $104,000. Taylor Hoffman Wealth Management bought a new stake in shares of Starbucks in the 4th quarter worth $107,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth $113,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Starbucks in the 1st quarter worth $118,000. Finally, Gradient Investments LLC bought a new stake in shares of Starbucks in the 4th quarter worth $117,000. Institutional investors and hedge funds own 72.06% of the company’s stock.
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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