Starbucks (NASDAQ:SBUX) Price Target Raised to $110.00

Starbucks (NASDAQ:SBUX) had its price objective upped by TD Cowen from $105.00 to $110.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the coffee company’s stock.

Other analysts have also issued reports about the company. Morgan Stanley restated an overweight rating and issued a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. Robert W. Baird raised shares of Starbucks from a neutral rating to an outperform rating and raised their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a hold rating to a sell rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Piper Sandler upgraded shares of Starbucks from a neutral rating to an overweight rating and boosted their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Evercore ISI upgraded Starbucks from an in-line rating to an outperform rating and upped their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $99.42.

Starbucks Stock Down 0.4 %

Shares of Starbucks stock opened at $91.15 on Wednesday. The company has a 50-day simple moving average of $82.41 and a two-hundred day simple moving average of $83.88. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market capitalization of $103.29 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. On average, sell-side analysts anticipate that Starbucks will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.57 per share. The ex-dividend date was Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.50%. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,790 shares of company stock worth $865,514. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SBUX. Gryphon Financial Partners LLC increased its position in Starbucks by 96.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after buying an additional 2,558 shares in the last quarter. Everpar Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $470,000. Wealthspire Advisors LLC raised its position in shares of Starbucks by 16.3% during the fourth quarter. Wealthspire Advisors LLC now owns 33,959 shares of the coffee company’s stock worth $3,260,000 after purchasing an additional 4,758 shares during the period. Summa Corp. bought a new position in shares of Starbucks in the 4th quarter worth $384,000. Finally, Advantage Trust Co acquired a new stake in Starbucks in the 4th quarter valued at $124,000. 72.29% of the stock is owned by institutional investors.

Starbucks Company Profile

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.