Barclays Raises Starbucks (NASDAQ:SBUX) Price Target to $96.00

Starbucks (NASDAQ:SBUX – Get Rating) had its target price raised by Barclays from $94.00 to $96.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the coffee company’s stock.

A number of other equities research analysts have also recently issued reports on SBUX. UBS Group upped their price target on shares of Starbucks from $82.00 to $87.00 and gave the company a neutral rating in a report on Wednesday. Cowen decreased their price target on shares of Starbucks from $115.00 to $94.00 in a report on Wednesday, May 4th. Credit Suisse Group decreased their price target on shares of Starbucks from $122.00 to $103.00 in a report on Wednesday, May 4th. BMO Capital Markets decreased their price target on shares of Starbucks from $115.00 to $105.00 in a report on Wednesday, May 4th. Finally, StockNews.com cut shares of Starbucks from a buy rating to a hold rating in a report on Thursday, May 12th. Fourteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $102.92.

Starbucks Trading Down 1.3 %

Shares of NASDAQ:SBUX opened at $85.73 on Wednesday. The stock has a market capitalization of $98.32 billion, a PE ratio of 24.15, a P/E/G ratio of 2.73 and a beta of 0.95. Starbucks has a 1 year low of $68.39 and a 1 year high of $120.76. The firm has a fifty day moving average price of $78.88 and a 200 day moving average price of $83.14.

Starbucks (NASDAQ:SBUX – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the previous year, the firm earned $1.01 earnings per share. On average, sell-side analysts forecast that Starbucks will post 2.85 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, August 11th. Starbucks’s payout ratio is 55.21%.

Insider Transactions at Starbucks

In other news, CEO Howard D. Schultz acquired 137,500 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was bought at an average price of $72.67 per share, with a total value of $9,992,125.00. Following the completion of the acquisition, the chief executive officer now owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Howard D. Schultz purchased 72,500 shares of the firm’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average cost of $68.85 per share, with a total value of $4,991,625.00. Following the completion of the purchase, the chief executive officer now directly owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard D. Schultz purchased 137,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were bought at an average cost of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the purchase, the chief executive officer now directly owns 19,534,460 shares of the company’s stock, valued at $1,419,569,208.20. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Starbucks

Several hedge funds have recently modified their holdings of SBUX. Steward Financial Group LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $25,000. PYA Waltman Capital LLC bought a new position in Starbucks in the fourth quarter valued at approximately $25,000. Rational Advisors LLC boosted its stake in Starbucks by 141.4% in the fourth quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Guardian Wealth Management Inc. bought a new position in Starbucks in the fourth quarter valued at approximately $25,000. Finally, Bromfield Sneider Wealth Advisors bought a new position in Starbucks in the first quarter valued at approximately $25,000. 69.21% of the stock is owned by institutional investors.

About Starbucks

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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.