Starbucks (NASDAQ:SBUX) Given “Sell” Rating at Redburn Atlantic

Redburn Atlantic restated their sell rating on shares of Starbucks (NASDAQ:SBUX) in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have a $77.00 price objective on the coffee company’s stock, down from their prior price objective of $84.00.

Several other equities analysts have also recently commented on the company. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Stifel Nicolaus upped their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $102.31.

Starbucks Stock Up 1.0 %

Starbucks stock opened at $99.80 on Wednesday. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50-day simple moving average of $96.30 and a 200 day simple moving average of $85.93. The stock has a market cap of $113.09 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, research analysts anticipate that Starbucks will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.44%. Starbucks’s dividend payout ratio is presently 68.88%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Providence Capital Advisors LLC raised its position in shares of Starbucks by 18.4% in the 3rd quarter. Providence Capital Advisors LLC now owns 74,483 shares of the coffee company’s stock worth $7,261,000 after acquiring an additional 11,553 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Starbucks in the 3rd quarter worth approximately $202,000. CreativeOne Wealth LLC grew its stake in shares of Starbucks by 26.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,960 shares of the coffee company’s stock worth $971,000 after buying an additional 2,106 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after buying an additional 2,329,431 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Starbucks by 6.5% in the 3rd quarter. Townsquare Capital LLC now owns 159,915 shares of the coffee company’s stock worth $15,590,000 after buying an additional 9,733 shares during the last quarter. 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.