Starbucks (NASDAQ:SBUX) Earns “Hold” Rating from Cleveland Research

Cleveland Research restated their hold rating on shares of Starbucks (NASDAQ:SBUX) in a research note released on Tuesday morning, TipRanks reports.

Other analysts also recently issued research reports about the company. Cowen set a $93.00 price target on Starbucks and gave the company a hold rating in a research note on Friday, July 26th. Wedbush lifted their target price on Starbucks from $88.00 to $95.00 and gave the stock a neutral rating in a report on Friday, July 26th. Stifel Nicolaus lifted their target price on Starbucks from $86.00 to $90.00 and gave the stock a hold rating in a report on Friday, July 26th. KeyCorp upped their target price on Starbucks from $84.00 to $105.00 and gave the company an overweight rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group increased their price target on shares of Starbucks from $96.00 to $110.00 and gave the stock a buy rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Starbucks has a consensus rating of Hold and a consensus price target of $89.53.

Shares of NASDAQ:SBUX traded up $0.63 on Tuesday, hitting $90.98. 8,225,347 shares of the company were exchanged, compared to its average volume of 8,723,897. The firm has a market capitalization of $112.71 billion, a P/E ratio of 37.60, a price-to-earnings-growth ratio of 2.56 and a beta of 0.56. Starbucks has a 1-year low of $54.10 and a 1-year high of $99.72. The stock’s 50 day moving average price is $95.75 and its 200 day moving average price is $82.69.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. On average, sell-side analysts forecast that Starbucks will post 2.83 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is 59.50%.

In other news, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.80, for a total transaction of $191,600.00. Following the sale, the chief accounting officer now directly owns 39,999 shares in the company, valued at approximately $3,831,904.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin R. Johnson sold 23,390 shares of Starbucks stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,767 shares of company stock valued at $13,690,565. Insiders own 3.98% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Enterprise Trust & Investment Co acquired a new stake in Starbucks in the 2nd quarter valued at $25,000. Cowen Prime Services LLC purchased a new stake in Starbucks in the 1st quarter worth $26,000. Northern Oak Wealth Management Inc. raised its position in Starbucks by 95.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after acquiring an additional 177 shares during the period. Redhawk Wealth Advisors Inc. acquired a new position in Starbucks during the second quarter worth $32,000. Finally, Atlas Capital Advisors LLC raised its position in Starbucks by 53.3% during the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock worth $35,000 after acquiring an additional 145 shares during the period. 71.20% of the stock is owned by institutional investors.

About Starbucks

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.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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