Starbucks Co. (NASDAQ:SBUX) Receives $106.68 Consensus Target Price from Brokerages

Starbucks Co. (NASDAQ:SBUX) has been given a consensus rating of “Hold” by the twenty-three ratings firms that are currently covering the firm, Marketbeat reports. Thirteen investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $106.55.

A number of analysts have issued reports on SBUX shares. Stephens reissued an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. JPMorgan Chase & Co. cut their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a report on Monday, April 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, Jefferies Financial Group cut their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th.

Starbucks Trading Up 0.2 %

Shares of SBUX opened at $88.49 on Friday. The stock has a 50 day moving average of $90.17 and a 200 day moving average of $94.25. Starbucks has a 12 month low of $84.29 and a 12 month high of $115.48. The company has a market capitalization of $100.19 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.13). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several large investors have recently bought and sold shares of SBUX. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Fairman Group LLC bought a new position in Starbucks in the 4th quarter valued at approximately $30,000. Finally, Riggs Asset Managment Co. Inc. lifted its position in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

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.