Brokerages Set Starbucks Corporation (NASDAQ:SBUX) PT at $102.12

Starbucks Corporation (NASDAQ:SBUX) has earned an average recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $102.56.

Several research firms have recently weighed in on SBUX. Citigroup raised shares of Starbucks from a “neutral” rating to a “positive” rating in a research note on Thursday. Wells Fargo & Company set a $100.00 price objective on Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. Piper Sandler decreased their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd.

Starbucks Stock Up 2.3%

Shares of NASDAQ:SBUX opened at $93.28 on Friday. Starbucks has a 52-week low of $75.50 and a 52-week high of $117.46. The stock has a market cap of $106.07 billion, a P/E ratio of 56.88, a PEG ratio of 1.92 and a beta of 0.97. The business has a fifty day moving average of $85.91 and a two-hundred day moving average of $87.12.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period in the previous year, the firm posted $0.80 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.7%. Starbucks’s dividend payout ratio (DPR) is currently 151.22%.

Insider Activity

In related news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director owned 53,096 shares in the company, valued at $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK lifted its stake in Starbucks by 132.6% during the fourth quarter. Capital Advisors Inc. OK now owns 7,615 shares of the coffee company’s stock worth $641,000 after purchasing an additional 4,341 shares in the last quarter. Victory Financial Group LLC raised its holdings in shares of Starbucks by 7.9% in the 4th quarter. Victory Financial Group LLC now owns 2,831 shares of the coffee company’s stock valued at $238,000 after buying an additional 207 shares during the period. Cohen Investment Advisors LLC lifted its stake in Starbucks by 6.6% during the 4th quarter. Cohen Investment Advisors LLC now owns 33,536 shares of the coffee company’s stock worth $2,824,000 after acquiring an additional 2,087 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in Starbucks during the 4th quarter worth about $77,000. Finally, Three Seasons Wealth LLC boosted its holdings in Starbucks by 1.7% during the 4th quarter. Three Seasons Wealth LLC now owns 9,373 shares of the coffee company’s stock valued at $789,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.