Starbucks (SBUX) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other analysts have also issued reports on SBUX. UBS Group set a $66.00 target price on shares of Starbucks and gave the stock a buy rating in a research note on Monday, May 21st. Wedbush initiated coverage on shares of Starbucks in a research note on Friday, May 25th. They issued a positive rating and a $57.68 target price for the company. Robert W. Baird reduced their target price on shares of Starbucks from $68.00 to $65.00 and set an outperform rating for the company in a research note on Tuesday, June 5th. Royal Bank of Canada reduced their target price on shares of Starbucks to $63.00 and set an outperform rating for the company in a research note on Wednesday, June 20th. They noted that the move was a valuation call. Finally, Telsey Advisory Group lowered shares of Starbucks from an outperform rating to a market perform rating and reduced their target price for the stock from $70.00 to $60.00 in a research note on Wednesday, June 20th. Fourteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $60.02.

NASDAQ SBUX opened at $54.75 on Wednesday. Starbucks has a 1 year low of $47.37 and a 1 year high of $61.94. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.01 and a quick ratio of 0.76. The firm has a market capitalization of $74.16 billion, a PE ratio of 26.58, a PEG ratio of 1.63 and a beta of 0.64.



Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, July 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. analysts forecast that Starbucks will post 2.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Thursday, August 9th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 8th. This represents a $1.44 annualized dividend and a yield of 2.63%. This is a positive change from Starbucks’s previous quarterly dividend of $0.30. Starbucks’s dividend payout ratio is presently 69.90%.

In other Starbucks news, Director Myron E. Ullman III sold 15,000 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $52.13, for a total transaction of $781,950.00. Following the completion of the transaction, the director now owns 29,000 shares in the company, valued at $1,511,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,596,450. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 295,832 shares of company stock valued at $15,834,037. 3.40% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC boosted its position in Starbucks by 8.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 10,863 shares of the coffee company’s stock worth $629,000 after purchasing an additional 884 shares during the period. Scholtz & Company LLC boosted its position 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 period. Mutual Advisors LLC boosted its position 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 period. DDD Partners LLC boosted its position in Starbucks by 13.3% during the second quarter. DDD Partners LLC now owns 8,317 shares of the coffee company’s stock worth $406,000 after purchasing an additional 975 shares during the period. Finally, Vontobel Swiss Wealth Advisors AG boosted its position 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 period. Hedge funds and other institutional investors own 72.16% of the company’s stock.

Starbucks Company Profile

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.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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