92.53 0.00 (0.00%)
After hours: 4:28PM EST
|Bid||92.40 x 1300|
|Ask||92.51 x 1800|
|Day's Range||92.47 - 93.75|
|52 Week Range||62.93 - 99.72|
|Beta (5Y Monthly)||0.51|
|PE Ratio (TTM)||31.69|
|Earnings Date||Jan 27, 2020|
|Forward Dividend & Yield||1.64 (1.75%)|
|Ex-Dividend Date||Nov 10, 2019|
|1y Target Est||95.48|
Beyond Meat stock dropped Wednesday after news of slowing sales for top rival Impossible Foods raised fears of weaker demand for fake meat overall.
If you're looking for stocks that are setting up in a base ahead of earnings, here's one that fits the bill: Starbucks. Keep in mind that buying a stock just before it reports is risky, since poor numbers could send it sharply lower. You can also use an options strategy to limit your potential downside.
Starbucks (SBUX) aims to become resource positive by storing more carbon than it emits, eliminating waste and providing more clean, freshwater than it uses by 2030.
The biggest single move by Starbucks’s customers who want to go green might be to stick with black coffee. Overall, dairy accounted for 21% of the company’s global carbon footprint in 2018.
Beyond Meat Inc.'s (NASDAQ: BYND) shares continued their surge on Tuesday as Starbucks Corporation (NASDAQ: SBUX) said it would expand into more plant-based options to reduce its carbon impact. Johnson said that Starbucks would seek a 50% cut in carbon emissions from its direct operations and supply chain.
Starbucks Corp. operations in 2018 came with 16 million tons of carbon emissions, 1 billion cubic meters of water usage and 868 kilo tons of waste. Johnson laid out five key priorities to accomplish this goal, but the baseline analysis Starbucks commissioned to derive these numbers details revealing data points on what it takes to bring customers their morning coffee. The majority of waste produced by Starbucks, which is mostly packaging, is leaving the stores, which is why Starbucks is increasing its incentives program.
(Bloomberg) -- The latest blow to the downtrodden dairy industry was delivered by none other than Starbucks Corp., with the coffee giant looking to condition customers to use milk alternatives in a bid to reduce its carbon footprint.While Starbucks accounts for just 0.3% of U.S. milk production, the decision to formally declare an emphasis on non-dairy options may encourage other food-service outlets to follow suit. That could add momentum to the shift toward oat, nut, soy and other alternative beverages for health and environmental reasons. American cow-milk consumption has fallen about 2% each year since the 1970’s, according to the U.S. Department of Agriculture.It’s a trend that has helped put plenty of American dairy farmers out of business and led to two big U.S. processors -- Dean Foods Co. and Borden Dairy Co. -- into bankruptcy. Dean is one of Starbucks’ key suppliers, data compiled by Bloomberg show.Marketing group Dairy Management Inc. said that while it shares Starbucks’ commitment to sustainability, the industry’s environmental footprint is small and shrinking due to innovative farm practices and new technologies. “Both plants and animals play a critical role in the health of the people and the planet,” the group said.(Adds comment from dairy industry in fourth paragraph)\--With assistance from Mike Dorning.To contact the reporters on this story: Laura Yin in Seattle at email@example.com;Olivia Rockeman in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: James Attwood at email@example.com, Millie MunshiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Global coffee giant Starbucks is one of top growth stocks to watch in 2020, but is it a buy in the current stock market rally?
Starbucks Corp. on Tuesday outlined a preliminary commitment to cut its global water usage and its waste and carbon footprint in half by 2030. “Today, more than ever, the world needs leadership in environmental sustainability,” CEO Kevin Johnson wrote in a four-page letter to shareholders, employees and customers. “I want to reemphasize that the journey we undertake is not only the right one for Starbucks responsibility as a corporate citizen of the world but is also fundamental to our brand relevance and, therefore, our overall business results.” The Seattle-based coffee chain is not alone in announcing greener goals.
Starbucks Corp aims to add more plant-based food and drinks to its menu as part of the company's latest plan to become more environmentally friendly, Chief Executive Kevin Johnson said on Tuesday, prompting a surge in shares of Beyond Meat Inc . The plant-based meat substitute category is expected to be worth $140 billion in the next decade, according to Barclays. Starbucks - which sells sausage breakfast-sandwiches, chicken wraps and smoked salmon bagels with cream cheese - did not say by when it would start offering plant-based items.
Beyond Meat Inc. stock jumped 15% in Tuesday trading after news from Starbucks Corp. Chief Executive Kevin Johnson that the coffee giant aims to add more plant-based items to its menu. Starbucks stock is nearly unchanged in early trading. Beyond Meat is currently in testing mode with another restaurant giant, McDonald's Corp. , and just announced a supply agreement with pea-protein producer Roquette, which the company said will aid in further scaling of the business. Beyond Meat stock is up 13.6% over the last three months while the S&P 500 index is up 10.7% for the period.
Skyland Town Center in Ward 7 will be home to the first drive-thru Starbucks in the District, as well as the second Chase Bank east of the Anacostia River, after the tenants recently signed leases with the project's developers. The new tenants, which signed just a few months after developer Rappaport landed Lidl as the project's grocery anchor, will join a CVS Pharmacy in the Ward 7 development. Skyland will eventually bring up to 500 apartments, 135,000 square feet of retail and 131,300 square feet of medical office space to the intersection of Naylor Road and Good Hope Road in Southeast D.C. Starbucks (NASDAQ: SBUX) and Chase (NYSE: JPM) are the first stores to sign onto the project since Lidl struck a deal with Skyland’s developers in May, providing a long sought-after replacement for Walmart after the chain spurned the project back in 2016.
(Bloomberg) -- Starbucks Corp., the world’s biggest coffee-shop chain, is looking into meat alternatives to rev up its breakfast menu, and that caught the attention of Beyond Meat Inc. investors.Seattle-based Starbucks said in an email to Bloomberg News that it’s “exploring meat alternatives” for its breakfast menu, but declined to comment on specific partnerships or brands. Major restaurants have raced to include faux meat as consumers warm to plant-based products that have the look and feel of meat.Beyond Meat shares jumped as much as 14% to $124.82 on Tuesday. Rupesh Parikh, an analyst at Oppenheimer, said the Starbucks announcement illustrates how the market for faux-meat products continues to grow.“It shows how the trend continues to go mainstream,” Parikh said in an email. “Beyond likely has a chance at selling products at Starbucks.”Beyond Meat has already partnered with McDonald’s Corp. for testing in Canada. The company’s imitation beef and sausage products are becoming increasingly widespread in North American restaurants.Starbucks, meanwhile, has been adding dairy alternatives to its beverage menu, with the recent addition of oat milk at about 1,300 of its 14,000 U.S. locations. The company has also tried to add more healthy options to its menu in recent years in addition to high-calorie breakfast pastries. That’s included cauliflower-tabbouleh salads and almond-butter sandwiches.Starbucks also announced Tuesday that it’s trying to reduce its carbon footprint by curbing emissions, water usage and waste. The company’s shares fell less than 1% in New York trading on Tuesday.To contact the reporters on this story: Leslie Patton in Chicago at firstname.lastname@example.org;Andres Guerra Luz in New York at email@example.comTo contact the editors responsible for this story: Sally Bakewell at firstname.lastname@example.org, Jonathan Roeder, Lisa WolfsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- To cut your morning coffee’s carbon footprint, skip the Frappuccino and take a plain black espresso.Adding whipped cream to millions of Starbucks Corp. drinks emits 50 times as much greenhouse gas as the company’s private jet. Overall, dairy products are the biggest source of carbon dioxide emissions across the coffee giant’s operations and supply chain.Those are just two findings from Starbucks’s most sweeping environmental assessment, unveiled Tuesday as the company announced ambitious goals for reducing its impact. By 2030, the cafe chain is targeting 50% reductions in carbon emissions, water withdrawal and waste sent to landfills.The task is immense: Starbucks in 2018 was responsible for emitting 16 million metric tons of greenhouse gases, using 1 billion cubic meters of water and dumping 868 metric kilotons -- more than twice the weight of the Empire State Building -- of coffee cups and other waste. The audit was conducted with sustainability consultant Quantis and the World Wildlife Fund.“We know this journey will be challenging, we know we can’t do this alone, and we know this will require others to join us,” Chief Executive Officer Kevin Johnson said in an interview.Starbucks shares fell as much as 1.1% to $92.62 on Tuesday in New York trading. The stock has gained about 6% so far in 2020, double the advance of the S&P 500 Index.The company, which has more than 31,000 outlets in more than 80 markets, joins a parade of companies announcing green initiatives as the World Economic Forum in Davos gets underway with a redoubled focus on climate change. This year’s gathering in the Swiss ski resort features Swedish activist Greta Thunberg, while Chief Executive Officer Larry Fink of BlackRock Inc. set the tone by warning that the asset manager will address the issue in its investments.The coffee chain’s moves follow investor pressure, with a resolution calling on the company to step up the use of sustainable packaging receiving support from almost half of shareholders at its annual general meeting last year.“While Starbucks has a long road ahead to achieve these goals, we’re encouraged that its priorities are rooted in transparent data and will be supplemented by first-of-its-kind market research,” said Allan Pearce, shareholder advocate at Trillium Asset Management.Under founder and former CEO Howard Schultz, Starbucks focused on sustainability by purchasing renewable energy, investing in climate-resistant coffee trees and giving discounts to customers who brought their own tumblers. Johnson, who took the helm in 2017, sold $1 billion of bonds to help fund the green and ethical sourcing initiatives. The company has named its first chief sustainability officer, Michael Kobori, who is joining from Levi Strauss & Co.‘Resource Positive’At an unspecified point beyond 2030, Johnson said, the company aims to become “resource positive” by storing more carbon than it emits, eliminating waste and providing more fresh water than it uses.The moves come as governments around the world step up action on the environment with measures such as a pending European Union ban on some single-use plastics.Other chains are acting too. McDonald’s Corp. has said it aims to cut restaurant and office emissions by 36% from 2015 levels through 2030. KFC and Taco Bell owner Yum! Brands Inc. is seeking a 10% average reduction per store by the end of 2025.The fast-food chains start from a higher base. Each outlet was responsible for more than four times the level of carbon dioxide emissions as Starbucks stores in 2017, according to Bloomberg Intelligence. Cooking and selling a broader range of menu items, including carbon-intensive meat, makes cutting emissions tougher.Starbucks has switched to wind power in some of its cafes, but meeting its carbon-reduction goals will require bigger changes. Johnson said he’ll push consumers to choose milk made from almond, coconuts, soy or oats, whose production is environmentally friendlier than dairy. In North America, 15% to 20% of Starbucks customers already choose such options.Alternative Milk“Alternative milks will be a big part of the solution,” Johnson said. “The consumer-demand curve is already shifting.”The Seattle-based company is testing new drinks made with plant-based ingredients and seeking ways to make whipped cream without emitting nitrous oxide, a greenhouse gas. Starbucks also aims to lower the cost of dairy alternatives by helping suppliers boost output, he said.Tackling another form of pollution -- the food and drink containers that litter city streets, clog landfills and often end up in the world’s oceans -- has been equally challenging. Starbucks says it’s responsible for about 1% of the estimated 600 billion disposable cups used globally every year.Around March of this year, the company plans to begin testing a paper cup it’s been developing with partners seeking a more widely recyclable and compostable hot-drink container. Existing ones generally contain a plastic layer that makes them difficult to process. Costa Coffee, a U.K.-based chain owned by Coca-Cola Co., two years ago announced plans to pay waste collectors a supplement to handle them, boosting its recycling efforts.Starbucks previously reined back a goal set in 2008, which was to serve 25% of coffee in personal travel mugs. Only about 5% of U.K. customers use reusable containers even though the company offers a 25-pence (33-cent) discount for them, while charging a 5-pence fee for paper cups.Lost SalesA smaller U.K. chain, Boston Tea Party Cafes, has eliminated single-use cups entirely, but that cost it 25% of takeaway coffee sales in the first year after the initiative went into effect.Johnson said he’s counting on Generation Z to lead adoption of environmentally friendlier practices, saying this will make it financially rewarding for companies to respond. Starbucks will stick to its long-term target of double-digit growth in earnings per share despite the cost of its green goals, he said.“It won’t be a linear journey,” Johnson said. “We’ll have positive steps and then we’ll try something else that works. There’s no silver bullet.”(Updates with investor comment in ninth paragraph)\--With assistance from Leslie Patton and Emily Chasan.To contact the reporter on this story: Eric Pfanner in London at email@example.comTo contact the editors responsible for this story: Kenneth Wong at firstname.lastname@example.org, Thomas Mulier, Anne PollakFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Starbucks Corp. Chief Executive Kevin Johnson said Tuesday that the coffee purveyor will add plant-based menu options as part of an expanded sustainability commitment. "Our aspiration is to become resource positive - storing more carbon than we emit, eliminating waste, and providing more clean freshwater than we use," Johnson wrote in a message posted on the Starbucks site. The new food items are an effort to create a more environmentally-friendly menu. The company will also shift to reusable packaging, invest in innovative agricultural practices and forest conservation efforts, better manage waste and create more eco-friendly stores. Preliminary targets for 2030 are to cut carbon emissions by half in both the company's operations and supply chain; halve water usage for operations and coffee production; and halve the amount of waste sent to landfills. Beyond Meat Inc. shares gained 3% in Tuesday premarket trading. Starbucks stock has rallied 44.7% over the past year while the S&P 500 index has gained 24.7% for the period.
Starbucks Corp aims to add more plant-based food and drinks to its menu, make its packaging reusable and invest in better waste-management, CEO Kevin Johnson said on Tuesday, as part of the company's latest plan to become more environmentally friendly. Starbucks - which sells sausage breakfast-sandwiches, chicken wraps and smoked salmon bagels with cream cheese - did not say by when it would start offering the plant-based items or shift from single-use cups and plastic. A spokeswoman told Reuters that the company is exploring meat alternatives for its breakfast menu, but declined comment on potential suppliers.
Starbucks announced a multi-decade commitment to be a resource-positive company, aspiring to give more than it takes from the planet.
The decision to use more plant-based meat alternatives was the first of five strategies Starbucks CEO Kevin Johnson outlined as part of the coffee chain's just unveiled campaign to become 'a resource-positive company.'
Starbucks Corporation (SBUX) plans to open 100 community stores in underserved communities across the United States by 2025. To this end, it collaborates with United Way.
Starbucks is pushing forward with an environmentally-friendly agenda. In a public letter to stakeholders on Tuesday, CEO Kevin Johnson said the company plans to shift away from single-use to reusable packaging, and invest in better waste-management. Starbucks did not say exactly when it would move away from single-use cups and plastic. It’s also promising more plant-based foods on its menu. That trend is growing fast in the food industry. The past year has seen the rise of Beyond Meat and Impossible Foods. And several major restaurants, like Burger King and Dunkin' Donuts, have raced to offer such products. For now, the world's largest coffee chain has laid out targets for 2030 including cutting the landfill waste from its stores by half. But Starbucks, which uses about 6 billion cups a year, has failed in the past to meet some of its own environmental goals… including making 25% of its cups reusable by 2015.