Analysts’ Recent Ratings Changes for Starbucks (SBUX)

Posted by Denise Davis on Nov 15th, 2024

Starbucks (NASDAQ: SBUX) recently received a number of ratings updates from brokerages and research firms:

11/15/2024 – Starbucks is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $115.00 price target on the stock.
11/13/2024 – Starbucks had its “sell” rating reaffirmed by analysts at Redburn Atlantic. They now have a $77.00 price target on the stock, down previously from $84.00.
11/11/2024 – Starbucks had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $110.00 price target on the stock.
10/31/2024 – Starbucks had its price target lowered by analysts at Barclays PLC from $110.00 to $108.00. They now have an “overweight” rating on the stock.
10/31/2024 – Starbucks had its price target raised by analysts at Citigroup Inc. from $96.00 to $99.00. They now have a “neutral” rating on the stock.
10/31/2024 – Starbucks had its price target lowered by analysts at Wedbush from $98.00 to $95.00. They now have a “neutral” rating on the stock.
10/31/2024 – Starbucks had its price target raised by analysts at Stifel Nicolaus from $105.00 to $110.00. They now have a “buy” rating on the stock.
10/23/2024 – Starbucks had its price target raised by analysts at UBS Group AG from $85.00 to $95.00. They now have a “neutral” rating on the stock.
10/23/2024 – Starbucks had its price target lowered by analysts at Citigroup Inc. from $99.00 to $96.00. They now have a “neutral” rating on the stock.
10/23/2024 – Starbucks had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $110.00 price target on the stock.
10/23/2024 – Starbucks had its price target lowered by analysts at Stifel Nicolaus from $110.00 to $105.00. They now have a “buy” rating on the stock.
10/22/2024 – Starbucks had its price target lowered by analysts at Bank of America Co. from $118.00 to $117.00. They now have a “buy” rating on the stock.
10/17/2024 – Starbucks had its price target raised by analysts at BTIG Research from $100.00 to $115.00. They now have a “buy” rating on the stock.
10/16/2024 – Starbucks had its price target raised by analysts at Morgan Stanley from $98.00 to $115.00. They now have an “overweight” rating on the stock.
10/8/2024 – Starbucks had its price target raised by analysts at Citigroup Inc. from $98.00 to $99.00. They now have a “neutral” rating on the stock.
9/30/2024 – Starbucks had its price target raised by analysts at JPMorgan Chase & Co. from $90.00 to $105.00. They now have an “overweight” rating on the stock.
9/26/2024 – Starbucks was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $115.00 price target on the stock, up previously from $92.00.
9/24/2024 – Starbucks was downgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to an “underperform” rating. They now have a $76.00 price target on the stock, down previously from $80.00.
9/18/2024 – Starbucks had its price target raised by analysts at Bank of America Co. from $112.00 to $118.00. They now have a “buy” rating on the stock.

Starbucks Stock Down 0.8 %

Shares of SBUX traded down $0.81 during midday trading on Friday, reaching $98.42. 8,118,783 shares of the stock were exchanged, compared to its average volume of 11,147,972. The company has a market cap of $111.53 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97. The firm has a 50 day simple moving average of $96.60 and a 200-day simple moving average of $86.12. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly 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. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 earnings per share. Research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired 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 represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several institutional investors and hedge funds have recently bought and sold shares of SBUX. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. State Street Corp boosted its holdings in shares of Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock worth $4,482,045,000 after buying an additional 437,218 shares during the period. FMR LLC grew its stake in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP lifted its position in Starbucks by 100.6% during the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after acquiring an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after acquiring an additional 327,734 shares during the period. Institutional investors own 72.29% of the company’s stock.

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.