Starbucks (NASDAQ:SBUX) Price Target Raised to $93.00

Starbucks (NASDAQ:SBUXGet Rating) had its target price boosted by Deutsche Bank Aktiengesellschaft from $91.00 to $93.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the coffee company’s stock.

SBUX has been the topic of several other research reports. BTIG Research cut their price objective on Starbucks from $130.00 to $110.00 and set a buy rating on the stock in a research report on Wednesday, April 20th. MKM Partners cut their price objective on Starbucks from $105.00 to $98.00 in a research report on Wednesday, May 4th. BMO Capital Markets cut their price objective on Starbucks from $115.00 to $105.00 in a research report on Wednesday, May 4th. Barclays cut their price objective on Starbucks from $108.00 to $94.00 in a research report on Wednesday, May 4th. Finally, Guggenheim dropped their price target on Starbucks from $95.00 to $87.00 in a research report on Wednesday, April 13th. Fourteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $102.92.

Starbucks Stock Performance

NASDAQ SBUX opened at $85.73 on Wednesday. The company has a market cap of $98.32 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.73 and a beta of 0.95. The business’s 50 day moving average price is $78.88 and its 200-day moving average price is $83.14. Starbucks has a fifty-two week low of $68.39 and a fifty-two week high of $120.76.

Starbucks (NASDAQ:SBUXGet Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the prior year, the company posted $1.01 EPS. As a group, equities analysts predict that Starbucks will post 2.85 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is presently 55.21%.

Insider Buying and Selling at Starbucks

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Tobam acquired a new position in shares of Starbucks in the first quarter valued at about $198,000. Essex LLC increased its holdings in shares of Starbucks by 15.7% in the first quarter. Essex LLC now owns 46,017 shares of the coffee company’s stock valued at $4,186,000 after purchasing an additional 6,233 shares during the period. Cim LLC increased its holdings in shares of Starbucks by 11.6% in the first quarter. Cim LLC now owns 4,036 shares of the coffee company’s stock valued at $326,000 after purchasing an additional 420 shares during the period. Opes Wealth Management LLC increased its holdings in shares of Starbucks by 24.0% in the first quarter. Opes Wealth Management LLC now owns 3,111 shares of the coffee company’s stock valued at $283,000 after purchasing an additional 603 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in shares of Starbucks by 65.2% in the fourth quarter. Benjamin Edwards Inc. now owns 1,513 shares of the coffee company’s stock valued at $177,000 after purchasing an additional 597 shares during the period. 69.21% of the stock is owned by institutional investors and hedge funds.

Starbucks Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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