Fintel reports that on June 19, 2023, TD Cowen initiated coverage of Starbucks (NASDAQ:SBUX) with a Outperform recommendation.
Analyst Price Forecast Suggests 16.15% Upside
As of June 1, 2023, the average one-year price target for Starbucks is 118.32. The forecasts range from a low of 95.95 to a high of $142.80. The average price target represents an increase of 16.15% from its latest reported closing price of 101.87.
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The projected annual revenue for Starbucks is 36,596MM, an increase of 7.64%. The projected annual non-GAAP EPS is 3.48.
Starbucks Declares $0.53 Dividend
On April 3, 2023 the company declared a regular quarterly dividend of $0.53 per share ($2.12 annualized). Shareholders of record as of May 12, 2023 received the payment on May 26, 2023. Previously, the company paid $0.53 per share.
At the current share price of $101.87 / share, the stock’s dividend yield is 2.08%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.03%, the lowest has been 1.43%, and the highest has been 2.94%. The standard deviation of yields is 0.35 (n=236).
The current dividend yield is 0.15 standard deviations above the historical average.
The company’s 3-Year dividend growth rate is 0.29%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3418 funds or institutions reporting positions in Starbucks. This is an increase of 62 owner(s) or 1.85% in the last quarter. Average portfolio weight of all funds dedicated to SBUX is 0.52%, an increase of 22.76%. Total shares owned by institutions decreased in the last three months by 3.53% to 913,023K shares. The put/call ratio of SBUX is 0.93, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 35,576K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 34,891K shares, representing an increase of 1.93%. The firm decreased its portfolio allocation in SBUX by 1.17% over the last quarter.
Bank Of America holds 32,246K shares representing 2.81% ownership of the company. In it’s prior filing, the firm reported owning 31,090K shares, representing an increase of 3.58%. The firm decreased its portfolio allocation in SBUX by 1.83% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 26,818K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 26,536K shares, representing an increase of 1.05%. The firm decreased its portfolio allocation in SBUX by 1.62% over the last quarter.
Capital Research Global Investors holds 26,814K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 26,028K shares, representing an increase of 2.93%. The firm increased its portfolio allocation in SBUX by 2.11% over the last quarter.
Geode Capital Management holds 21,506K shares representing 1.87% ownership of the company. In it’s prior filing, the firm reported owning 21,175K shares, representing an increase of 1.54%. The firm decreased its portfolio allocation in SBUX by 1.40% over the last quarter.
Starbucks Background Information
(This description is provided by the company.)
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with nearly 33,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup.
Key filings for this company:
This article originally appeared on Fintel
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