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Starbucks Corporation (NASDAQ: SBUX) Stock: Does It Have The Potential To Rise?

In the last trading session, 6.76 million shares of the Starbucks Corporation (NASDAQ:SBUX) were traded, and its beta was 0.96. Most recently the company’s share price was $100.34, and it changed around -$2.56 or -2.49% from the last close, which brings the market valuation of the company to $116.75B. SBUX currently trades at a discount to its 52-week high of $115.48, offering almost -15.09% off that amount. The share price’s 52-week low was $70.35, which indicates that the current value has risen by an impressive 29.89% since then. We note from Starbucks Corporation’s average daily trading volume that its 10-day average is 5.18 million shares, with the 3-month average coming to 5.87 million.

Starbucks Corporation stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 0 out of 29 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 17 recommended SBUX as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Starbucks Corporation is expected to report earnings per share of $0.95 for the current quarter.

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Starbucks Corporation (NASDAQ:SBUX) trade information

Instantly SBUX has showed a red trend with a performance of -2.49% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 107.15 on Tuesday, 05/23/23 increased the stock’s daily price by 6.36%. The company’s shares are currently up 1.15% year-to-date, but still down -4.69% over the last five days. On the other hand, Starbucks Corporation (NASDAQ:SBUX) is -8.19% down in the 30-day period. We can see from the shorts that 14.6 million shares have been sold at a short interest cover period of 2.86 day(s).

The consensus price target as assigned by Wall Street analysts is $115.59, which translates to bulls needing to increase their stock price by 13.19% from its current value. Analyst projections state that SBUX is forecast to be at a low of $102.00 and a high of $131.00. In order for the stock price to hit the forecast high, the stock would need to plunge -30.56% from its current level, while the stock would need to crash -1.65% from its current level to reach the projected low.

Starbucks Corporation (SBUX) estimates and forecasts

Starbucks Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 2.44 percent over the past six months and at a 16.22% annual growth rate that is well above the industry average of 9.30%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 13.10% in revenue this quarter, and will report an increase of 23.50% in the next quarter. The year-over-year growth rate is expected to be 12.10%, up from the previous year.

Consensus estimates provided by 22 financial analysts predict the company will bring in an average of $9.34 billion in revenue for the current quarter. 22 analysts expect Starbucks Corporation to make $9.42 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $8.15 billion and $8.41 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.60%. Forecasts for the next quarter put sales growth at 12.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 7.50%. Starbucks Corporation earnings are expected to increase by -20.00% in 2023, but the outlook is positive 18.05% per year for the next five years.

SBUX Dividends

Starbucks Corporation’s next quarterly earnings report is expected to be released on August 01. The annual dividend yield of the stock is 2.11 percent and its annual dividend per share was 2.12. It is important to note, however, that the 2.11% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Starbucks Corporation (NASDAQ:SBUX)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.07% of Starbucks Corporation shares, and 74.22% of them are in the hands of institutional investors. The stock currently has a share float of 75.79%. Starbucks Corporation stock is held by 2,902 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.26% of the shares, which is about 106.13 million shares worth $11.05 billion.

Blackrock Inc., with 6.70% or 76.79 million shares worth $8.0 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 34.89 million shares worth $3.46 billion, making up 3.04% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 26.54 million shares worth around $2.63 billion, which represents about 2.31% of the total shares outstanding.

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