Starbucks’ (SBUX) “Sell” Rating Reiterated at Redburn Atlantic

Redburn Atlantic reissued their sell rating on shares of Starbucks (NASDAQ:SBUX) in a research report report published on Wednesday, MarketBeat reports. They currently have a $77.00 price target on the coffee company’s stock, down from their previous price target of $84.00.

Several other research analysts have also recently weighed in on SBUX. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. UBS Group boosted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wedbush dropped their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.81.

Starbucks Trading Down 0.2 %

NASDAQ:SBUX opened at $98.42 on Wednesday. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a 50 day moving average of $96.75 and a 200-day moving average of $86.19. The stock has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts forecast that Starbucks will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC lifted its stake in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks in the 2nd quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new position in Starbucks in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.