Starbucks (NASDAQ:SBUX) Price Target Raised to $110.00

Starbucks (NASDAQ:SBUX) had its target price upped by Stifel Nicolaus from $105.00 to $110.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the coffee company’s stock.

Several other equities analysts have also recently weighed in on SBUX. UBS Group lifted their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Bank of America reduced their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Trading Up 1.6 %

Shares of SBUX stock traded up $1.56 on Thursday, reaching $99.26. The company had a trading volume of 3,287,811 shares, compared to its average volume of 11,281,743. The company has a 50-day moving average of $95.88 and a 200-day moving average of $85.37. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market cap of $112.48 billion, a PE ratio of 29.52, a PEG ratio of 2.63 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 45.15%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. Sell-side analysts anticipate that Starbucks will post 3.45 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.46%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 68.88%.

Insiders Place Their Bets

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new position in shares of Starbucks in the 3rd quarter valued at $485,000. Fiera Capital Corp boosted its stake in Starbucks by 13.8% in the third quarter. Fiera Capital Corp now owns 50,753 shares of the coffee company’s stock valued at $4,948,000 after buying an additional 6,163 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Starbucks in the third quarter valued at about $71,000. Granite Group Advisors LLC raised its stake in Starbucks by 10.0% during the third quarter. Granite Group Advisors LLC now owns 31,509 shares of the coffee company’s stock worth $3,072,000 after acquiring an additional 2,866 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new stake in shares of Starbucks in the 3rd quarter valued at approximately $249,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.