Starbucks (NASDAQ:SBUX) had its price objective lifted by Barclays from $88.00 to $94.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the coffee company’s stock.
Other equities analysts also recently issued reports about the company. Wedbush increased their target price on Starbucks from $71.00 to $75.00 and gave the stock a neutral rating in a research report on Wednesday, April 29th. UBS Group increased their target price on Starbucks from $73.00 to $77.00 and gave the stock a neutral rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their target price on Starbucks from $73.00 to $78.00 and gave the stock a neutral rating in a research report on Wednesday, June 24th. Telsey Advisory Group reduced their target price on Starbucks from $90.00 to $80.00 and set a market perform rating on the stock in a research report on Tuesday, June 23rd. Finally, ValuEngine upgraded Starbucks from a hold rating to a buy rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Starbucks has an average rating of Hold and a consensus target price of $84.04.
Shares of NASDAQ:SBUX opened at $76.53 on Wednesday. Starbucks has a 52-week low of $50.02 and a 52-week high of $98.14. The stock’s fifty day simple moving average is $74.75 and its 200-day simple moving average is $77.29. The company has a market capitalization of $89.59 billion, a P/E ratio of 68.95, a P/E/G ratio of 5.87 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The business had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s revenue was down 38.1% on a year-over-year basis. Sell-side analysts forecast that Starbucks will post 0.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a $0.41 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.14%. Starbucks’s dividend payout ratio (DPR) is currently 57.95%.
In other Starbucks news, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $82.64, for a total transaction of $165,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $74.09, for a total value of $315,030.68. Following the sale, the director now owns 22,752 shares of the company’s stock, valued at approximately $1,685,695.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,504 shares of company stock valued at $810,521. Insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Certified Advisory Corp grew its stake in Starbucks by 32.5% during the 1st quarter. Certified Advisory Corp now owns 526 shares of the coffee company’s stock valued at $35,000 after purchasing an additional 129 shares in the last quarter. First Interstate Bank grew its stake in Starbucks by 0.3% during the 1st quarter. First Interstate Bank now owns 41,287 shares of the coffee company’s stock valued at $2,714,000 after purchasing an additional 138 shares in the last quarter. SFE Investment Counsel grew its stake in Starbucks by 2.0% during the 1st quarter. SFE Investment Counsel now owns 7,061 shares of the coffee company’s stock valued at $464,000 after purchasing an additional 140 shares in the last quarter. Aries Wealth Management grew its stake in Starbucks by 2.6% during the 2nd quarter. Aries Wealth Management now owns 5,601 shares of the coffee company’s stock valued at $412,000 after purchasing an additional 140 shares in the last quarter. Finally, Exeter Financial LLC lifted its holdings in Starbucks by 1.0% during the 1st quarter. Exeter Financial LLC now owns 13,849 shares of the coffee company’s stock worth $910,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 68.51% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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