Starbucks Co. (NASDAQ:SBUX) Receives Consensus Recommendation of “Hold” from Brokerages

Starbucks Co. (NASDAQ:SBUXGet Rating) has received a consensus recommendation of “Hold” from the twenty-nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $106.68.

Several equities analysts recently issued reports on SBUX shares. Wedbush lowered shares of Starbucks from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $91.00 in a report on Tuesday, April 5th. JPMorgan Chase & Co. raised shares of Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 target price for the company in a report on Wednesday, March 16th. Morgan Stanley cut their target price on shares of Starbucks from $107.00 to $94.00 and set an “equal weight” rating for the company in a research note on Thursday, April 14th. Jefferies Financial Group lowered their price target on shares of Starbucks from $142.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 2nd. Finally, Piper Sandler cut their target price on shares of Starbucks from $108.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 2nd.

Shares of SBUX stock opened at $74.64 on Monday. The business’s fifty day moving average is $85.04 and its 200 day moving average is $99.65. Starbucks has a 52-week low of $74.48 and a 52-week high of $126.32. The company has a market capitalization of $85.86 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings results on Tuesday, February 1st. The coffee company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.08). The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.95 billion. Starbucks had a negative return on equity of 56.17% and a net margin of 14.47%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. Sell-side analysts predict that Starbucks will post 3.28 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, May 12th. Starbucks’s payout ratio is 52.83%.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Starbucks by 10.3% in the fourth quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock valued at $9,645,766,000 after purchasing an additional 7,672,037 shares during the period. State Street Corp grew its stake in Starbucks by 3.5% during the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock worth $5,672,559,000 after purchasing an additional 1,649,721 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Starbucks by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,440,456 shares of the coffee company’s stock worth $2,385,035,000 after acquiring an additional 331,190 shares in the last quarter. Morgan Stanley boosted its position in shares of Starbucks by 3.1% during the 2nd quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company’s stock worth $1,455,407,000 after acquiring an additional 396,104 shares in the last quarter. Finally, Fundsmith LLP boosted its position in shares of Starbucks by 7.7% in the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock valued at $1,354,132,000 after purchasing an additional 831,723 shares during the period. Institutional investors own 69.74% of the company’s stock.

About Starbucks (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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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