Starbucks Corp. (SBUX) Coverage Initiated by Analysts at Buckingham Research
Buckingham Research assumed coverage on shares of Starbucks Corp. (NASDAQ:SBUX) in a report released on Monday. The firm issued a neutral rating and a $50.84 price objective on the coffee company’s stock.
Several other equities research analysts also recently issued reports on the company. Morgan Stanley restated a buy rating and set a $64.00 target price on shares of Starbucks Corp. in a research report on Sunday, August 14th. Vetr downgraded Starbucks Corp. from a strong-buy rating to a buy rating and set a $61.76 target price on the stock. in a research report on Tuesday, August 9th. Jefferies Group restated a buy rating and set a $65.00 target price on shares of Starbucks Corp. in a research report on Wednesday, August 3rd. Nomura restated a buy rating and set a $70.00 target price on shares of Starbucks Corp. in a research report on Monday, July 25th. Finally, Goldman Sachs Group Inc. restated a buy rating on shares of Starbucks Corp. in a research report on Friday, September 9th. Seven analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $63.72.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.50% during midday trading on Monday, reaching $56.38. The company had a trading volume of 1,831,031 shares. The company has a 50 day moving average of $53.70 and a 200 day moving average of $55.21. Starbucks Corp. has a one year low of $50.84 and a one year high of $62.54. The company has a market capitalization of $82.34 billion, a PE ratio of 29.75 and a beta of 0.77.
Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. Starbucks Corp.’s revenue for the quarter was up 16.2% on a year-over-year basis. Analysts predict that Starbucks Corp. will post $2.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, November 15th. This is a boost from Starbucks Corp.’s previous quarterly dividend of $0.20. Starbucks Corp.’s dividend payout ratio is presently 52.63%.
Several large investors have recently made changes to their positions in SBUX. Capital World Investors boosted its stake in shares of Starbucks Corp. by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock valued at $1,878,530,000 after buying an additional 8,071,610 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Starbucks Corp. by 136.4% in the third quarter. Ameriprise Financial Inc. now owns 10,310,495 shares of the coffee company’s stock worth $558,015,000 after buying an additional 5,949,819 shares during the last quarter. Bank of Montreal Can purchased a new stake in Starbucks Corp. during the second quarter worth approximately $204,254,000. Vontobel Asset Management Inc. boosted its stake in Starbucks Corp. by 744.1% in the third quarter. Vontobel Asset Management Inc. now owns 3,517,590 shares of the coffee company’s stock worth $196,385,000 after buying an additional 3,100,871 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Starbucks Corp. by 433.2% in the third quarter. Neuberger Berman Group LLC now owns 3,316,604 shares of the coffee company’s stock worth $179,561,000 after buying an additional 2,694,557 shares during the last quarter. 69.08% of the stock is owned by hedge funds and other institutional investors.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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