Posted by Defense World Staff on May 21st, 2024
Starbucks Co. (NASDAQ:SBUX – Get Free Report) has been given an average recommendation of “Hold” by the twenty-five brokerages that are currently covering the company, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $96.43.
A number of research firms have issued reports on SBUX. Jefferies Financial Group reduced their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Stifel Nicolaus dropped their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $108.00 to $89.00 in a research report on Wednesday, May 1st. HSBC decreased their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th.
Get Our Latest Stock Analysis on Starbucks
Starbucks Price Performance
Shares of NASDAQ:SBUX opened at $77.54 on Tuesday. The firm’s 50 day simple moving average is $85.09 and its two-hundred day simple moving average is $92.40. The company has a market capitalization of $87.83 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.68 and a beta of 0.97. Starbucks has a 1-year low of $71.80 and a 1-year high of $107.66.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period last year, the company earned $0.74 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks will post 3.63 earnings per share for the current fiscal year.
Starbucks Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.
Insider Activity at Starbucks
In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 4,000 shares of company stock worth $346,140 over the last quarter. Company insiders own 1.98% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter worth approximately $26,000. Vima LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks in the fourth quarter valued at $27,000. Fairman Group LLC purchased a new stake in Starbucks during the fourth quarter valued at about $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Institutional investors own 72.29% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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