Analysts Set Starbucks Co. (NASDAQ:SBUX) PT at $103.32

Starbucks Co. (NASDAQ:SBUX) has been assigned an average rating of “Moderate Buy” from the twenty-nine brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $102.81.

A number of brokerages recently issued reports on SBUX. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Barclays cut their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Royal Bank of Canada started coverage on Starbucks in a research note on Friday. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dakota Wealth Management lifted its holdings in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after acquiring an additional 300 shares during the period. Weil Company Inc. raised its stake in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after buying an additional 8,222 shares during the period. Maia Wealth LLC raised its stake in shares of Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the period. Aljian Capital Management LLC raised its stake in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after buying an additional 9,936 shares during the period. Finally, Swiss National Bank raised its stake in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after buying an additional 9,900 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.0 %

Shares of SBUX stock opened at $100.40 on Tuesday. The firm has a 50 day moving average of $96.91 and a 200-day moving average of $86.44. Starbucks has a 52 week low of $71.55 and a 52 week high of $105.47. The company has a market cap of $113.77 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm posted $1.06 EPS. Starbucks’s revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Starbucks will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.43%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is presently 73.72%.

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.