Starbucks (NASDAQ:SBUX) Receives “Sell” Rating from Redburn Atlantic

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

SBUX has been the topic of a number of other reports. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Stifel Nicolaus boosted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, BMO Capital Markets raised their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $102.81.

Starbucks Stock Down 0.2 %

SBUX opened at $98.42 on Wednesday. The company has a market cap of $111.53 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a 50-day moving average price of $96.75 and a 200 day moving average price of $86.18.

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

Starbucks Increases Dividend

The company 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 dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 68.88%.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter valued at $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks during the second quarter worth about $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors 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.