Starbucks (SBUX) PT Lowered to $58.00 at Sanford C. Bernstein

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Starbucks (NASDAQ:SBUX) had its price objective reduced by Sanford C. Bernstein from $64.00 to $58.00 in a research note issued to investors on Tuesday. They currently have a market perform rating on the coffee company’s stock.

A number of other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Starbucks from $64.00 to $61.00 and set an overweight rating on the stock in a research report on Thursday, June 21st. Barclays lowered their price target on Starbucks to $60.00 in a research report on Wednesday, June 20th. Robert W. Baird lowered their price target on Starbucks from $65.00 to $64.00 and set an outperform rating on the stock in a research report on Wednesday, June 20th. Wedbush lowered their price target on Starbucks from $58.00 to $57.00 and set a neutral rating on the stock in a research report on Wednesday, June 20th. Finally, Stifel Nicolaus lowered their price target on Starbucks from $58.00 to $55.00 and set a hold rating on the stock in a research report on Wednesday, June 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $61.44.

Shares of NASDAQ SBUX opened at $48.54 on Tuesday. The company has a market cap of $68.78 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.48 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. Starbucks has a twelve month low of $47.37 and a twelve month high of $61.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. The firm had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a return on equity of 60.33% and a net margin of 18.71%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. analysts anticipate that Starbucks will post 2.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Thursday, August 9th will be paid a $0.36 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, August 8th. Starbucks’s payout ratio is 58.25%.

Starbucks announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 26th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the coffee company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently modified their holdings of the stock. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Starbucks by 8.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 10,863 shares of the coffee company’s stock valued at $629,000 after buying an additional 884 shares during the period. MAI Capital Management lifted its stake in Starbucks by 4.5% during the fourth quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock worth $1,228,000 after purchasing an additional 912 shares during the last quarter. Scholtz & Company LLC lifted its stake in Starbucks by 3.7% during the first quarter. Scholtz & Company LLC now owns 25,750 shares of the coffee company’s stock worth $1,491,000 after purchasing an additional 925 shares during the last quarter. Mutual Advisors LLC lifted its stake in Starbucks by 5.5% during the first quarter. Mutual Advisors LLC now owns 18,464 shares of the coffee company’s stock worth $1,069,000 after purchasing an additional 959 shares during the last quarter. Finally, Vontobel Swiss Wealth Advisors AG lifted its stake in Starbucks by 2.7% during the first quarter. Vontobel Swiss Wealth Advisors AG now owns 36,693 shares of the coffee company’s stock worth $2,124,000 after purchasing an additional 982 shares during the last quarter. Institutional investors and hedge funds own 72.05% of the company’s stock.

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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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