Starbucks (NASDAQ:SBUX) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Starbucks (NASDAQ:SBUX) from a sell rating to a hold rating in a research report report published on Saturday.

Several other brokerages have also commented on SBUX. TD Securities dropped their price target on shares of Starbucks from $102.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus reduced their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Argus raised Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday, March 18th. Jefferies Financial Group raised Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price for the company in a research report on Wednesday, April 9th. Finally, Wedbush lifted their price target on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.72.

Starbucks Trading Down 2.3 %

Shares of NASDAQ:SBUX opened at $80.30 on Friday. The company has a market cap of $91.25 billion, a PE ratio of 25.90, a P/E/G ratio of 3.59 and a beta of 0.99. The company’s 50 day moving average is $90.00 and its two-hundred day moving average is $96.88. Starbucks has a 52 week low of $71.55 and a 52 week high of $117.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. As a group, equities research analysts expect that Starbucks will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 3.04%. Starbucks’s payout ratio is currently 88.41%.

Institutional Investors Weigh In On Starbucks

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new stake in Starbucks in the fourth quarter valued at $62,000. Arizona State Retirement System increased its holdings in Starbucks by 0.8% during the 4th quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC acquired a new position in Starbucks during the fourth quarter worth about $265,000. Wernau Asset Management Inc. purchased a new stake in shares of Starbucks in the fourth quarter valued at about $258,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $9,497,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.