Starbucks (NASDAQ:SBUX) Price Target Raised to $100.00

Starbucks (NASDAQ:SBUX) had its price objective lifted by Wedbush from $95.00 to $100.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the coffee company’s stock.

A number of other equities analysts have also recently issued reports on the stock. BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Citigroup upped their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Redburn Atlantic reissued a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.52.

Starbucks Stock Performance

Shares of SBUX stock opened at $108.58 on Wednesday. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $110.08. The stock’s fifty day moving average price is $95.70 and its two-hundred day moving average price is $92.89. The company has a market cap of $123.11 billion, a PE ratio of 32.80, a P/E/G ratio of 2.91 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same period last year, the firm earned $0.90 EPS. On average, equities analysts predict that Starbucks will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of Starbucks in the 4th quarter worth $25,000. Collier Financial acquired a new position in Starbucks during the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the second quarter valued at $25,000. DT Investment Partners LLC grew its holdings in shares of Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Starbucks during the third quarter worth about $49,000. Institutional investors own 72.29% of the company’s stock.

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.