Starbucks (NASDAQ:SBUX) had its price target boosted by UBS Group from $77.00 to $81.00 in a research report released on Wednesday, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the coffee company’s stock.
A number of other equities analysts have also recently commented on the stock. Oppenheimer cut their price target on shares of Starbucks from $90.00 to $85.00 and set an outperform rating for the company in a research note on Friday, April 24th. Telsey Advisory Group cut their price target on shares of Starbucks from $90.00 to $80.00 and set a market perform rating for the company in a research note on Tuesday, June 23rd. Jefferies Financial Group boosted their price target on shares of Starbucks from $90.00 to $94.00 and gave the stock a buy rating in a research note on Thursday, June 11th. BidaskClub cut shares of Starbucks from a sell rating to a strong sell rating in a research note on Tuesday, July 21st. Finally, Wedbush upped their price objective on shares of Starbucks from $75.00 to $81.00 and gave the company a neutral rating in a research note on Wednesday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $84.04.
SBUX stock opened at $76.53 on Wednesday. Starbucks has a 12 month low of $50.02 and a 12 month high of $98.14. The firm has a market capitalization of $89.59 billion, a P/E ratio of 68.95, a price-to-earnings-growth ratio of 5.87 and a beta of 0.79. The firm has a 50 day moving average of $74.75 and a 200-day moving average of $77.29.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.15. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s quarterly revenue was down 38.1% compared to the same quarter last year. Analysts anticipate that Starbucks will post 0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.64 annualized dividend and a yield of 2.14%. Starbucks’s payout ratio is currently 57.95%.
In other Starbucks news, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $82.64, for a total value of $165,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $74.09, for a total transaction of $315,030.68. Following the completion of the transaction, the director now owns 22,752 shares of the company’s stock, valued at $1,685,695.68. The disclosure for this sale can be found here. Insiders sold a total of 10,504 shares of company stock valued at $810,521 over the last 90 days. Company insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SBUX. Certified Advisory Corp increased its stake in shares of Starbucks by 32.5% in the 1st quarter. Certified Advisory Corp now owns 526 shares of the coffee company’s stock worth $35,000 after acquiring an additional 129 shares in the last quarter. First Interstate Bank increased its stake in shares of Starbucks by 0.3% in the 1st quarter. First Interstate Bank now owns 41,287 shares of the coffee company’s stock worth $2,714,000 after acquiring an additional 138 shares in the last quarter. SFE Investment Counsel increased its stake in shares of Starbucks by 2.0% in the 1st quarter. SFE Investment Counsel now owns 7,061 shares of the coffee company’s stock worth $464,000 after acquiring an additional 140 shares in the last quarter. Aries Wealth Management increased its stake in shares of Starbucks by 2.6% in the 2nd quarter. Aries Wealth Management now owns 5,601 shares of the coffee company’s stock worth $412,000 after acquiring an additional 140 shares in the last quarter. Finally, Exeter Financial LLC increased its stake in shares of Starbucks by 1.0% in the 1st quarter. Exeter Financial LLC now owns 13,849 shares of the coffee company’s stock worth $910,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds 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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