Starbucks’ (SBUX) Market Perform Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their market perform rating on shares of Starbucks (NASDAQ:SBUX) in a research report released on Friday morning, Benzinga reports.

SBUX has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $107.00 to $100.00 and set an overweight rating for the company in a research note on Tuesday, March 19th. Robert W. Baird dropped their target price on Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a report on Monday, March 18th. Wedbush restated a neutral rating and set a $95.00 price target on shares of Starbucks in a report on Wednesday, January 31st. BTIG Research cut their price objective on shares of Starbucks from $125.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Finally, Gordon Haskett cut shares of Starbucks from a buy rating to a hold rating and set a $100.00 target price for the company. in a report on Tuesday, January 16th. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks has a consensus rating of Hold and a consensus price target of $106.68.

Starbucks Stock Up 0.7 %

SBUX opened at $88.18 on Friday. The stock has a market cap of $99.84 billion, a PE ratio of 23.58, a PEG ratio of 1.42 and a beta of 0.97. The business has a 50 day moving average of $90.80 and a 200-day moving average of $94.42. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. Equities analysts anticipate that Starbucks will post 4.01 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s payout ratio is presently 60.96%.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,000 shares of company stock worth $629,738 in the last 90 days. 1.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Starbucks

Several large investors have recently made changes to their positions in the business. Vima LLC bought a new position in Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $27,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Fairman Group LLC bought a new position in Starbucks during the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

About Starbucks

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.