Starbucks (NASDAQ:SBUX) Price Target Raised to $103.00

Starbucks (NASDAQ:SBUXFree Report) had its price target upped by Citigroup from $102.00 to $103.00 in a research note issued to investors on Wednesday, Benzinga reports. Citigroup currently has a neutral rating on the coffee company’s stock.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Starbucks from $107.00 to $100.00 in a report on Tuesday, October 3rd. StockNews.com cut shares of Starbucks from a buy rating to a hold rating in a research report on Wednesday, December 20th. Piper Sandler decreased their target price on shares of Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a research report on Friday, January 19th. Morgan Stanley raised shares of Starbucks from an equal weight rating to an overweight rating and upped their target price for the company from $112.00 to $120.00 in a research report on Tuesday, January 16th. Finally, Stephens reaffirmed an equal weight rating and issued a $110.00 target price on shares of Starbucks in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $111.64.

Check Out Our Latest Stock Analysis on Starbucks

Starbucks Stock Down 1.1 %

SBUX stock opened at $93.03 on Wednesday. Starbucks has a 52 week low of $89.21 and a 52 week high of $115.48. The firm has a 50 day moving average of $95.61 and a 200 day moving average of $96.93. The stock has a market capitalization of $105.33 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its earnings results on Tuesday, January 30th. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, equities research analysts expect that Starbucks will post 4.1 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, February 8th. Starbucks’s dividend payout ratio is presently 63.69%.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 6,500 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total transaction of $681,005.00. Following the completion of the sale, the insider now directly owns 72,822 shares of the company’s stock, valued at $7,629,560.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Starbucks news, EVP Sara Kelly sold 250 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $104.45, for a total value of $26,112.50. Following the completion of the sale, the executive vice president now owns 47,532 shares of the company’s stock, valued at $4,964,717.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael Aaron Conway sold 6,500 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total value of $681,005.00. Following the completion of the sale, the insider now directly owns 72,822 shares of the company’s stock, valued at approximately $7,629,560.94. The disclosure for this sale can be found here. Insiders sold a total of 7,754 shares of company stock valued at $807,565 over the last three months. 1.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Starbucks

A number of hedge funds and other institutional investors have recently bought and sold shares of SBUX. Metis Global Partners LLC raised its stake in shares of Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares during the last quarter. Avestar Capital LLC raised its stake in shares of Starbucks by 4.8% during the 2nd quarter. Avestar Capital LLC now owns 4,061 shares of the coffee company’s stock worth $402,000 after buying an additional 187 shares during the last quarter. Motco raised its stake in shares of Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares during the last quarter. Leo Brokerage LLC acquired a new position in shares of Starbucks during the 2nd quarter worth $225,000. Finally, Miramar Capital LLC raised its stake in shares of Starbucks by 23.1% during the 2nd quarter. Miramar Capital LLC now owns 114,456 shares of the coffee company’s stock worth $11,338,000 after buying an additional 21,470 shares during the last quarter. Institutional investors and hedge funds own 70.13% of the company’s stock.

About Starbucks

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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.

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