Starbucks Corp.’s (SBUX) “Outperform” Rating Reaffirmed at Robert W. Baird

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Starbucks Corp. (NASDAQ:SBUX)‘s stock had its “outperform” rating reissued by Robert W. Baird in a research report issued to clients and investors on Thursday.
A number of other brokerages have also commented on SBUX. BTIG Research dropped their price objective on shares of Starbucks Corp. from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. RBC Capital Markets reiterated an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a research note on Monday, July 25th. Piper Jaffray Cos. reiterated an “outperform” rating and issued a $72.00 price target on shares of Starbucks Corp. in a research note on Friday, July 22nd. Vetr lowered shares of Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.21 price target on the stock. in a research note on Wednesday, June 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $70.00 price target on shares of Starbucks Corp. in a research note on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $66.53.
Starbucks Corp. (NASDAQ:SBUX) traded down 1.15% during midday trading on Thursday, hitting $55.67. 5,012,432 shares of the company traded hands. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00. The stock’s 50-day moving average price is $56.52 and its 200 day moving average price is $57.18. The company has a market capitalization of $81.65 billion, a price-to-earnings ratio of 31.28 and a beta of 0.80.

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Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. On average, equities analysts forecast that Starbucks Corp. will post $1.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Thursday, August 4th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, August 2nd. Starbucks Corp.’s dividend payout ratio is currently 44.69%.
In related news, Director Myron E. Ullman III sold 12,654 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total transaction of $742,789.80. Following the transaction, the director now directly owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.38% of the stock is currently owned by insiders.
A number of hedge funds and institutional investors recently modified their holdings of the company. Tocqueville Asset Management L.P. raised its position in shares of Starbucks Corp. by 1.7% in the second quarter. Tocqueville Asset Management L.P. now owns 615,268 shares of the coffee company’s stock valued at $35,144,000 after buying an additional 10,333 shares in the last quarter. Tradewinds Capital Management LLC raised its position in shares of Starbucks Corp. by 1.2% in the second quarter. Tradewinds Capital Management LLC now owns 66,633 shares of the coffee company’s stock valued at $3,806,000 after buying an additional 818 shares in the last quarter. Alley Co LLC raised its position in shares of Starbucks Corp. by 2.6% in the second quarter. Alley Co LLC now owns 55,615 shares of the coffee company’s stock valued at $3,177,000 after buying an additional 1,390 shares in the last quarter. Saratoga Research & Investment Management bought a new position in shares of Starbucks Corp. during the second quarter valued at about $473,000. Finally, Nordea Investment Management AB raised its position in shares of Starbucks Corp. by 0.4% in the second quarter. Nordea Investment Management AB now owns 341,289 shares of the coffee company’s stock valued at $19,494,000 after buying an additional 1,241 shares in the last quarter. 68.50% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corp. Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

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