Starbucks (NASDAQ:SBUX) Coverage Initiated by Analysts at Royal Bank of Canada

Royal Bank of Canada began coverage on shares of Starbucks (NASDAQ:SBUX) in a research note released on Monday morning, The Fly reports. The brokerage issued an outperform rating and a $97.00 price objective on the coffee company’s stock.

A number of other research analysts have also recently issued reports on SBUX. Weeden reaffirmed a neutral rating on shares of Starbucks in a report on Friday, November 1st. Robert W. Baird reaffirmed a hold rating on shares of Starbucks in a research report on Wednesday, September 4th. ValuEngine downgraded Starbucks from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Bank of America set a $100.00 price objective on Starbucks and gave the stock a buy rating in a research note on Monday, September 30th. Finally, Cleveland Research reiterated a hold rating on shares of Starbucks in a research report on Tuesday, September 10th. Nineteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Starbucks has an average rating of Hold and an average price target of $91.11.

Starbucks stock opened at $86.28 on Monday. Starbucks has a 1-year low of $60.42 and a 1-year high of $99.72. The business has a fifty day moving average price of $83.94 and a 200-day moving average price of $87.57. The stock has a market capitalization of $101.94 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 2.18 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the business posted $0.62 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Starbucks will post 3.05 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Wednesday, November 13th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 dividend on an annualized basis and a yield of 1.90%. Starbucks’s dividend payout ratio is 57.95%.

In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $84.79, for a total value of $845,610.67. Following the completion of the transaction, the director now owns 28,407 shares in the company, valued at $2,408,629.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.98% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Enterprise Trust & Investment Co acquired a new position in shares of Starbucks during the 2nd quarter valued at about $25,000. 1 North Wealth Services LLC purchased a new position in shares of Starbucks in the 3rd quarter valued at about $30,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Starbucks in the 2nd quarter valued at about $32,000. Candriam Luxembourg S.C.A. grew its position in shares of Starbucks by 3.9% during the third quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock worth $33,000 after buying an additional 14,069 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Starbucks by 246.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 402 shares of the coffee company’s stock worth $36,000 after buying an additional 286 shares in the last quarter. 69.99% of the stock is owned by institutional investors.

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

Featured Story: What strategies should day traders use to execute a trade?

The Fly

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.