Starbucks Co. (NASDAQ:SBUX) Receives $98.72 Average PT from Brokerages

Shares of Starbucks Co. (NASDAQ:SBUX) have earned an average recommendation of “Moderate Buy” from the twenty-seven brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $98.72.

SBUX has been the topic of a number of recent research reports. The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $103.00 to $85.00 in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Baird R W downgraded Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Citigroup cut their price target on Starbucks from $88.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Finally, Argus upgraded Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Tuesday, March 18th.

Starbucks Trading Down 2.3 %

Shares of NASDAQ SBUX opened at $80.30 on Tuesday. The stock has a fifty day moving average price of $90.00 and a 200 day moving average price of $96.88. Starbucks has a 12-month low of $71.55 and a 12-month high of $117.46. The company has a market cap of $91.25 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, sell-side analysts forecast that Starbucks will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, May 16th. Starbucks’s payout ratio is 88.41%.

Institutional Investors Weigh In On Starbucks

Several large investors have recently made changes to their positions in SBUX. Financial Life Planners bought a new position in shares of Starbucks in the fourth quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Starbucks during the 4th quarter worth about $25,000. Graney & King LLC acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $26,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter valued at approximately $27,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Company Profile

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.