Starbucks (NASDAQ:SBUX) PT Raised to $78.00

Starbucks (NASDAQ:SBUX) had its target price increased by Stifel Nicolaus from $75.00 to $78.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. They currently have a hold rating on the coffee company’s stock.

Several other research analysts also recently commented on the company. KeyCorp lifted their price objective on Starbucks from $80.00 to $82.00 and gave the stock an overweight rating in a report on Wednesday, April 29th. Wells Fargo & Co began coverage on Starbucks in a report on Monday, July 20th. They issued an overweight rating and a $92.00 price objective on the stock. UBS Group lifted their price objective on Starbucks from $77.00 to $81.00 and gave the stock a neutral rating in a report on Wednesday. Bank of America lifted their price objective on Starbucks from $80.00 to $82.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on Starbucks from $86.00 to $85.00 and set an outperform rating on the stock in a report on Thursday, June 11th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $84.04.

Shares of SBUX stock opened at $76.53 on Wednesday. The business has a 50-day moving average price of $74.75 and a two-hundred day moving average price of $77.29. Starbucks has a 12-month low of $50.02 and a 12-month high of $98.14. The firm has a market cap of $89.46 billion, a P/E ratio of 56.69, a price-to-earnings-growth ratio of 5.86 and a beta of 0.79.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue was down 38.1% compared to the same quarter last year. On average, equities analysts expect that Starbucks will post 0.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.14%. Starbucks’s dividend payout ratio (DPR) is 57.95%.

In other news, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $74.09, for a total value of $315,030.68. Following the sale, the director now directly owns 22,752 shares of the company’s stock, valued at approximately $1,685,695.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $82.64, for a total value of $165,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,504 shares of company stock worth $810,521 in the last quarter. Company insiders own 0.41% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. National Asset Management Inc. boosted its position in shares of Starbucks by 2.1% in the 2nd quarter. National Asset Management Inc. now owns 43,104 shares of the coffee company’s stock worth $3,173,000 after purchasing an additional 894 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Starbucks by 12.8% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 80,715 shares of the coffee company’s stock worth $5,940,000 after purchasing an additional 9,128 shares in the last quarter. Lincoln National Corp boosted its position in shares of Starbucks by 6.8% in the 2nd quarter. Lincoln National Corp now owns 34,613 shares of the coffee company’s stock worth $2,547,000 after purchasing an additional 2,201 shares in the last quarter. QCI Asset Management Inc. NY boosted its position in shares of Starbucks by 4.7% in the 2nd quarter. QCI Asset Management Inc. NY now owns 219,497 shares of the coffee company’s stock worth $16,153,000 after purchasing an additional 9,933 shares in the last quarter. Finally, Leisure Capital Management lifted its position in Starbucks by 3.3% in the 2nd quarter. Leisure Capital Management now owns 11,995 shares of the coffee company’s stock valued at $883,000 after acquiring an additional 378 shares in the last quarter. 68.51% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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