Starbucks’ (SBUX) “Buy” Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Starbucks (NASDAQ:SBUX) in a research note published on Wednesday, AnalystRatings.com reports.

A number of other equities analysts have also issued reports on SBUX. Bank of America assumed coverage on shares of Starbucks in a research report on Monday. They set a buy rating and a $135.00 price target for the company. Barclays lifted their target price on shares of Starbucks from $140.00 to $145.00 and gave the company an overweight rating in a report on Wednesday, July 28th. Stifel Nicolaus cut their target price on shares of Starbucks from $135.00 to $130.00 and set a buy rating for the company in a report on Monday, September 20th. Piper Sandler lifted their target price on shares of Starbucks from $104.00 to $108.00 and gave the company a neutral rating in a report on Wednesday, July 28th. Finally, Jefferies Financial Group lifted their target price on shares of Starbucks from $135.00 to $145.00 and gave the company a buy rating in a report on Wednesday, July 28th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of Buy and a consensus target price of $127.22.

Shares of Starbucks stock opened at $110.76 on Wednesday. The firm has a market capitalization of $130.60 billion, a P/E ratio of 46.34, a PEG ratio of 3.06 and a beta of 0.88. The company has a 50 day moving average price of $114.93 and a 200 day moving average price of $114.70. Starbucks has a 52 week low of $85.45 and a 52 week high of $126.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Monday, July 26th. The coffee company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.23. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. The firm had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.26 billion. During the same period last year, the firm posted ($0.46) EPS. Starbucks’s revenue was up 77.6% on a year-over-year basis. As a group, analysts anticipate that Starbucks will post 3.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 26th. Shareholders of record on Friday, November 12th will be paid a dividend of $0.49 per share. The ex-dividend date is Wednesday, November 10th. This is a positive change from Starbucks’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a yield of 1.77%. Starbucks’s dividend payout ratio is 153.85%.

In other news, COO John Culver sold 148,619 shares of the business’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $119.00, for a total transaction of $17,685,661.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin R. Johnson sold 359,177 shares of the business’s stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $122.81, for a total value of $44,110,527.37. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Starbucks by 0.9% in the second quarter. Vanguard Group Inc. now owns 97,136,962 shares of the coffee company’s stock valued at $10,860,884,000 after purchasing an additional 828,102 shares in the last quarter. State Street Corp boosted its holdings in Starbucks by 1.0% in the second quarter. State Street Corp now owns 46,965,699 shares of the coffee company’s stock valued at $5,251,235,000 after purchasing an additional 462,453 shares in the last quarter. Magellan Asset Management Ltd boosted its holdings in Starbucks by 1.4% in the first quarter. Magellan Asset Management Ltd now owns 30,087,626 shares of the coffee company’s stock valued at $3,287,675,000 after purchasing an additional 416,103 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Starbucks by 2.0% in the second quarter. Geode Capital Management LLC now owns 19,545,995 shares of the coffee company’s stock valued at $2,179,292,000 after purchasing an additional 387,898 shares in the last quarter. Finally, Polen Capital Management LLC boosted its holdings in Starbucks by 5.4% in the second quarter. Polen Capital Management LLC now owns 14,802,150 shares of the coffee company’s stock valued at $1,655,028,000 after purchasing an additional 753,946 shares in the last quarter. 68.27% of the stock is owned by hedge funds and other institutional investors.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

Read More: What is Liquidity?

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.