Starbucks (NASDAQ:SBUX) Given New $115.00 Price Target at BMO Capital Markets

Starbucks (NASDAQ:SBUX) had its price objective increased by BMO Capital Markets from $110.00 to $115.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the coffee company’s stock.

A number of other analysts have also weighed in on SBUX. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wedbush upped their target price on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.52.

Starbucks Trading Up 8.1 %

SBUX opened at $108.58 on Wednesday. The firm has a market cap of $123.11 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 2.91 and a beta of 0.99. The stock’s 50-day moving average price is $95.70 and its 200 day moving average price is $92.89. Starbucks has a 12-month low of $71.55 and a 12-month high of $110.08.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period last year, the business earned $0.90 earnings per share. On average, research analysts forecast that Starbucks will post 3.08 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.25%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter worth about $25,000. Financial Life Planners acquired a new position in Starbucks during the 4th quarter worth approximately $25,000. Collier Financial purchased a new position in shares of Starbucks during the 4th quarter worth approximately $27,000. DT Investment Partners LLC lifted its holdings in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in shares of Starbucks in the third quarter valued at approximately $49,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

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.