Starbucks (NASDAQ:SBUX) Upgraded to Strong-Buy at Baird R W

Baird R W upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Piper Sandler set a $105.00 price objective on Starbucks and gave the company an “overweight” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Bank of America boosted their price target on Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Barclays boosted their price target on Starbucks from $106.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Evercore ISI reissued an “outperform” rating and issued a $105.00 price target (up from $95.00) on shares of Starbucks in a research report on Tuesday, June 24th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus price target of $103.65.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $93.06 on Tuesday. The company has a market capitalization of $105.78 billion, a price-to-earnings ratio of 40.11, a P/E/G ratio of 5.37 and a beta of 1.02. The business’s 50-day moving average is $92.78 and its 200-day moving average is $94.26. Starbucks has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 36.23% and a net margin of 7.18%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. Analysts anticipate that Starbucks will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.6%. Starbucks’s dividend payout ratio (DPR) is currently 105.17%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SBUX. Brighton Jones LLC raised its holdings in shares of Starbucks by 86.5% during the fourth quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock worth $16,126,000 after purchasing an additional 81,952 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Starbucks by 6.2% during the fourth quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company’s stock worth $486,000 after purchasing an additional 311 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Starbucks by 2.0% during the fourth quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company’s stock worth $927,000 after purchasing an additional 196 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Starbucks during the fourth quarter worth $581,000. Finally, Rossby Financial LCC purchased a new position in shares of Starbucks during the fourth quarter worth $204,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

About Starbucks

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.