Starbucks Co. (SBUX) Rating Lowered to Buy at Vetr Inc.
Starbucks Co. (NASDAQ:SBUX) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday. They currently have a $62.81 price objective on the coffee company’s stock. Vetr‘s price target suggests a potential upside of 9.06% from the stock’s current price.
Other analysts have also issued research reports about the company. RBC Capital Markets reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Starbucks in a research note on Monday, July 25th. decreased their price target on Starbucks from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, September 28th. Macquarie raised Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 14th. Deutsche Bank AG decreased their price target on Starbucks from $67.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday, November 1st. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of Starbucks in a research note on Thursday, September 8th. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.72.
Starbucks (NASDAQ:SBUX) opened at 57.59 on Tuesday. Starbucks has a 12-month low of $50.84 and a 12-month high of $62.54. The company’s 50-day moving average price is $53.91 and its 200-day moving average price is $55.23. The firm has a market capitalization of $83.82 billion, a price-to-earnings ratio of 30.31 and a beta of 0.77.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.68 billion. Starbucks had a return on equity of 49.88% and a net margin of 13.22%. Starbucks’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Equities analysts expect that Starbucks will post $2.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 17th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.74%. Starbucks’s dividend payout ratio is 52.63%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Seven Eight Capital LLC boosted its position in shares of Starbucks by 817.7% in the first quarter. Seven Eight Capital LLC now owns 23,456 shares of the coffee company’s stock valued at $1,400,000 after buying an additional 20,900 shares during the period. Squarepoint Ops LLC boosted its position in shares of Starbucks by 6.1% in the first quarter. Squarepoint Ops LLC now owns 43,420 shares of the coffee company’s stock valued at $2,592,000 after buying an additional 2,486 shares during the period. AIMZ Investment Advisors LLC boosted its position in shares of Starbucks by 4.3% in the first quarter. AIMZ Investment Advisors LLC now owns 6,185 shares of the coffee company’s stock valued at $369,000 after buying an additional 257 shares during the period. First Republic Investment Management Inc. boosted its position in shares of Starbucks by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 1,438,991 shares of the coffee company’s stock valued at $85,907,000 after buying an additional 66,883 shares during the period. Finally, Cullinan Associates Inc. boosted its position in shares of Starbucks by 0.9% in the first quarter. Cullinan Associates Inc. now owns 189,595 shares of the coffee company’s stock valued at $11,319,000 after buying an additional 1,710 shares during the period. 69.08% of the stock is owned by hedge funds and other institutional investors.
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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