Starbucks Co. (NASDAQ:SBUX) – Investment analysts at Jefferies Financial Group dropped their Q2 2019 earnings per share estimates for shares of Starbucks in a research report issued to clients and investors on Friday, November 30th. Jefferies Financial Group analyst A. Barish now forecasts that the coffee company will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.55. Jefferies Financial Group currently has a “Buy” rating and a $76.00 target price on the stock.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. Starbucks’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share.
Other research analysts have also recently issued reports about the company. Wedbush reaffirmed a “hold” rating and set a $53.00 price objective on shares of Starbucks in a research report on Tuesday, September 18th. Zacks Investment Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Wells Fargo & Co increased their price target on Starbucks from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. BidaskClub cut Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, Telsey Advisory Group increased their price target on Starbucks from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.05.
SBUX stock opened at $66.72 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 7.73. The stock has a market cap of $82.77 billion, a PE ratio of 27.57, a PEG ratio of 1.87 and a beta of 0.48. Starbucks has a fifty-two week low of $47.37 and a fifty-two week high of $68.98.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were paid a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.44 annualized dividend and a yield of 2.16%. Starbucks’s dividend payout ratio is 59.50%.
In other Starbucks news, Director Myron E. Ullman III sold 99,166 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total value of $5,459,088.30. Following the sale, the director now owns 29,000 shares in the company, valued at $1,596,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC raised its stake in Starbucks by 669.7% in the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after buying an additional 1,902 shares during the period. Polaris Greystone Financial Group LLC bought a new stake in Starbucks in the third quarter valued at approximately $107,000. Fort L.P. bought a new stake in Starbucks in the second quarter valued at approximately $112,000. Point72 Hong Kong Ltd bought a new stake in Starbucks in the second quarter valued at approximately $115,000. Finally, RPg Family Wealth Advisory LLC increased its stake in shares of Starbucks by 155.6% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after purchasing an additional 1,673 shares during the period. Hedge funds and other institutional investors own 71.14% of the company’s stock.
Starbucks Company Profile
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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