Starbucks Co. (NASDAQ:SBUX) Receives Average Rating of “Hold” from Analysts

Starbucks Co. (NASDAQ:SBUXGet Rating) has been given a consensus recommendation of “Hold” by the twenty-six analysts that are presently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $100.04.

A number of analysts have weighed in on SBUX shares. Morgan Stanley upped their price target on Starbucks from $88.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, September 15th. Fubon Bank upgraded Starbucks from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Wednesday, September 14th. Robert W. Baird upped their price target on Starbucks from $86.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, September 14th. Stephens started coverage on Starbucks in a report on Thursday, September 22nd. They set an “equal weight” rating and a $91.00 target price on the stock. Finally, Credit Suisse Group increased their target price on Starbucks from $103.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, November 4th.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $99.52 on Friday. The business’s fifty day moving average price is $89.65 and its two-hundred day moving average price is $83.54. Starbucks has a fifty-two week low of $68.39 and a fifty-two week high of $117.80. The stock has a market capitalization of $114.23 billion, a price-to-earnings ratio of 35.29, a price-to-earnings-growth ratio of 2.19 and a beta of 0.87.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a $0.53 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, November 9th. This represents a $2.12 annualized dividend and a yield of 2.13%. Starbucks’s dividend payout ratio is presently 75.18%.

Insider Buying and Selling at Starbucks

In other Starbucks news, EVP Zabrina Jenkins sold 4,020 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total value of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, EVP Zabrina Jenkins sold 4,020 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total value of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mellody L. Hobson purchased 54,750 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were acquired at an average cost of $92.58 per share, for a total transaction of $5,068,755.00. Following the transaction, the director now owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Starbucks by 1.5% during the third quarter. Vanguard Group Inc. now owns 103,852,100 shares of the coffee company’s stock worth $8,750,578,000 after purchasing an additional 1,486,459 shares during the period. State Street Corp raised its position in shares of Starbucks by 0.8% during the third quarter. State Street Corp now owns 44,894,257 shares of the coffee company’s stock worth $3,782,790,000 after purchasing an additional 361,614 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Starbucks by 29.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,598,025 shares of the coffee company’s stock worth $1,038,753,000 after buying an additional 3,133,826 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Starbucks by 28.0% during the first quarter. Capital Research Global Investors now owns 10,948,617 shares of the coffee company’s stock worth $995,996,000 after buying an additional 2,395,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Starbucks by 18.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,811,297 shares of the coffee company’s stock worth $892,535,000 after buying an additional 1,531,708 shares in the last quarter. Institutional investors and hedge funds own 67.97% of the company’s stock.

About Starbucks

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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