Starbucks (NASDAQ:SBUX) PT Raised to $95.00

Starbucks (NASDAQ:SBUX) had its target price boosted by UBS Group from $85.00 to $95.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the coffee company’s stock.

A number of other equities analysts have also weighed in on the stock. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Barclays lifted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Starbucks Trading Up 0.2 %

SBUX opened at $97.31 on Wednesday. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66. The firm’s 50 day simple moving average is $95.48 and its two-hundred day simple moving average is $85.05. The company has a market capitalization of $110.22 billion, a PE ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 earnings per share. Equities analysts forecast that Starbucks will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced 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 is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.51%. Starbucks’s payout ratio is currently 67.22%.

Insider Transactions at Starbucks

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

Hedge Funds Weigh In On Starbucks

Hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC boosted its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks during the 2nd quarter valued at approximately $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

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.