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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Starbucks Corporation    SBUX

STARBUCKS CORPORATION

(SBUX)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 10/30 12:08:46 pm
86.995 USD   -1.48%
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Chinese plant protein start-ups bet on local tastes

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09/15/2020 | 05:34am EDT

They look like small meatballs, but customers in this Beijing restaurant are in fact sizzling up plant-based protein in their hot pot.

Making the switch from meat to a plant-based option at Hope Tree hotpot was a new choice for curious diner Audrey Jiang:

"Before I always had beef meatballs (when eating hot pot). For this (plant-based meatball) actually you can tell that it isn't meat. But the feel of it in your mouth is very similar to beef (meatballs). And I guess that plant-based protein is a little healthier than beef."

The non-meat meatballs are from a company named Zhenmeat, which also makes plant-based dumplings and even crayfish.

It's part of a small but growing group of Chinese companies, with their own answers to big names like Beyond Meat or Impossible.

And in the wake of the global health crisis and the country's own struggle with African swine fever vegetarian alternatives to meat have gained ground in China.

Overseas rivals want in on that, too. Last week, Beyond Meat said it had signed a deal to open a production facility near Shanghai and it's launched a team-up with Starbucks to serve up plant-based food in China.

But Zhenmeat CEO Vince Lu has a much wider vision for the future of his meatballs.

"Our true competitors are not those global giants who have already achieved great success such as 'Beyond Meat' or 'Impossible Foods'. Our true competitor is the whole livestock sector. It's the animal protein industry. So we think it's a game of making the cake (market) bigger (for all)."

Some of the Hope Tree customers trying Zhenmeat's protein made from a base of pea and soy, said it felt like beef, but tasted like tofu.

And taste is key to the future of plant-based meats says China market research group director, Ben Cavender:

"So I think when we interview consumers the vast majority say they're open to trying these products once. But the big question is how much do they like it? Do they see how they can fit it into their diet on a daily basis, whether that's cooking at home or at restaurants?"


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Financials (USD)
Sales 2020 23 374 M - -
Net income 2020 861 M - -
Net Debt 2020 12 294 M - -
P/E ratio 2020 124x
Yield 2020 1,87%
Capitalization 103 B 103 B -
EV / Sales 2020 4,94x
EV / Sales 2021 4,02x
Nbr of Employees 346 000
Free-Float 99,8%
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Technical analysis trends STARBUCKS CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 91,10 $
Last Close Price 88,30 $
Spread / Highest target 18,9%
Spread / Average Target 3,17%
Spread / Lowest Target -15,1%
EPS Revisions
Managers
NameTitle
Kevin R. Johnson President, Chief Executive Officer & Director
Myron E. Ullman Chairman
Rosalind Gates Brewer COO, Director & Group President-Americas
Patrick J. Grismer Chief Financial Officer
Gerri Martin-Flickinger Chief Technology Officer & Executive VP
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