Morgan Stanley Maintains Starbucks (SBUX) Equal-Weight Recommendation
Fintel reports that on April 17, 2023, Morgan Stanley maintained coverage of Starbucks (NASDAQ:SBUX) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 6.27% Upside
As of April 6, 2023, the average one-year price target for Starbucks is $114.20. The forecasts range from a low of $80.80 to a high of $144.90. The average price target represents an increase of 6.27% from its latest reported closing price of $107.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Starbucks is $36,596MM, an increase of 11.19%. 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 will receive the payment on May 26, 2023. Previously, the company paid $0.53 per share.
At the current share price of $107.47 / share, the stock's dividend yield is 1.97%. 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 0.16 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.73. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.29%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
Moneta Group Investment Advisors holds 7K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing a decrease of 3.26%. The firm decreased its portfolio allocation in SBUX by 9.73% over the last quarter.
QGI2Q - Growth & Income Portfolio Initial Class holds 36K shares representing 0.00% ownership of the company. No change in the last quarter.
QALGX - Federated MDT Large Cap Growth Fund Shares holds 11K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 3K shares, representing an increase of 72.87%. The firm increased its portfolio allocation in SBUX by 217.61% over the last quarter.
Eqis Capital Management holds 8K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 11K shares, representing a decrease of 35.53%. The firm decreased its portfolio allocation in SBUX by 15.19% over the last quarter.
Templeton & Phillips Capital Management holds 68K shares representing 0.01% ownership of the company.
What is the Fund Sentiment?
There are 3361 funds or institutions reporting positions in Starbucks.
This is an increase
of
180
owner(s) or 5.66% in the last quarter.
Average portfolio weight of all funds dedicated to SBUX is 0.37%,
a decrease
of 20.44%.
Total shares owned by institutions increased
in the last three months by 0.38% to 934,016K shares.
The put/call ratio of SBUX is 0.70, indicating a
bullish
outlook.
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.
See all Starbucks regulatory filings.
This story originally appeared on Fintel.