Starbucks Co. (NASDAQ:SBUX) – Equities research analysts at KeyCorp upped their FY2020 earnings per share (EPS) estimates for shares of Starbucks in a report released on Tuesday, July 28th. KeyCorp analyst E. Gonzalez now expects that the coffee company will post earnings of $0.93 per share for the year, up from their prior forecast of $0.74. KeyCorp currently has a “Overweight” rating and a $82.00 target price on the stock. KeyCorp also issued estimates for Starbucks’ Q1 2021 earnings at $0.67 EPS, Q2 2021 earnings at $0.56 EPS, Q4 2021 earnings at $0.79 EPS and FY2021 earnings at $2.65 EPS.
Several other equities research analysts have also recently commented on the stock. Argus lowered their price target on shares of Starbucks from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. BidaskClub upgraded shares of Starbucks from a “strong sell” rating to a “sell” rating in a research report on Saturday. Barclays lifted their price target on shares of Starbucks from $88.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday. ValuEngine upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. Finally, Wolfe Research started coverage on shares of Starbucks in a report on Friday, April 17th. They set an “outperform” rating and a $86.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $84.04.
Shares of NASDAQ:SBUX opened at $76.53 on Friday. Starbucks has a one year low of $50.02 and a one year high of $98.14. The company has a 50 day moving average of $74.75 and a 200-day moving average of $77.29. The stock has a market cap of $89.59 billion, a price-to-earnings ratio of 68.95, a P/E/G ratio of 5.87 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.15. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The company had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the company earned $0.78 EPS. Starbucks’s revenue was down 38.1% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in SBUX. BlackRock Inc. increased its holdings in Starbucks by 4.5% during the first quarter. BlackRock Inc. now owns 84,291,281 shares of the coffee company’s stock worth $5,541,310,000 after buying an additional 3,614,642 shares during the last quarter. Morgan Stanley increased its holdings in Starbucks by 15.1% during the first quarter. Morgan Stanley now owns 16,926,014 shares of the coffee company’s stock worth $1,112,717,000 after buying an additional 2,219,969 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Starbucks by 2.2% during the first quarter. Wells Fargo & Company MN now owns 11,403,058 shares of the coffee company’s stock worth $749,637,000 after buying an additional 245,223 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Starbucks by 10.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,612,867 shares of the coffee company’s stock worth $631,951,000 after buying an additional 916,469 shares during the last quarter. Finally, Polen Capital Management LLC increased its holdings in Starbucks by 5.9% during the first quarter. Polen Capital Management LLC now owns 8,031,200 shares of the coffee company’s stock worth $527,971,000 after buying an additional 449,002 shares during the last quarter. 68.51% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $74.09, for a total value of $315,030.68. Following the sale, the director now owns 22,752 shares of the company’s stock, valued at $1,685,695.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $82.64, for a total transaction of $165,280.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,504 shares of company stock worth $810,521. 0.41% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 6th. Starbucks’s dividend payout ratio is presently 57.95%.
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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