Starbucks (SBUX) Cut to Buy at BidaskClub

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BidaskClub downgraded shares of Starbucks (NASDAQ:SBUX) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

SBUX has been the topic of a number of other research reports. Oppenheimer restated an outperform rating and set a $72.00 price target (up previously from $70.00) on shares of Starbucks in a research note on Friday, January 25th. KeyCorp set a $70.00 price target on shares of Starbucks and gave the company a buy rating in a research note on Friday, December 14th. CIBC upped their price target on shares of Starbucks from $70.00 to $72.00 and gave the company an outperform rating in a research note on Friday, January 25th. Argus upgraded shares of Starbucks from a hold rating to a buy rating and set a $79.00 price target on the stock in a research note on Monday, November 12th. Finally, Bank of America set a $68.00 price target on shares of Starbucks and gave the company a buy rating in a research note on Monday, December 10th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $67.01.

NASDAQ SBUX opened at $70.74 on Tuesday. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16. Starbucks has a 52 week low of $47.37 and a 52 week high of $72.18. The company has a market cap of $87.11 billion, a P/E ratio of 29.23, a PEG ratio of 2.01 and a beta of 0.50.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same quarter in the prior year, the business posted $0.65 EPS. Starbucks’s revenue for the quarter was up 9.2% compared to the same quarter last year. Research analysts forecast that Starbucks will post 2.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Thursday, February 7th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.04%. The ex-dividend date was Wednesday, February 6th. Starbucks’s payout ratio is currently 59.50%.

In other Starbucks news, insider Clifford Burrows sold 152,634 shares of Starbucks stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $67.22, for a total transaction of $10,260,057.48. Following the completion of the sale, the insider now directly owns 311,083 shares in the company, valued at $20,910,999.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Culver sold 169,096 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $68.81, for a total transaction of $11,635,495.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 565,806 shares of company stock valued at $38,789,988. 3.98% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lake Point Wealth Management acquired a new stake in Starbucks during the fourth quarter worth approximately $25,000. Highwater Wealth Management LLC acquired a new stake in Starbucks during the fourth quarter worth approximately $28,000. Veritas Investment Management LLP acquired a new stake in Starbucks during the fourth quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Starbucks during the fourth quarter worth approximately $32,000. Finally, Clean Yield Group acquired a new stake in Starbucks during the fourth quarter worth approximately $33,000. 72.42% of the stock is owned by institutional investors and hedge funds.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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