Starbucks Corporation (NASDAQ:SBUX) Receives $101.44 Consensus Price Target from Analysts

Starbucks Corporation (NASDAQ:SBUX) has been given a consensus rating of “Moderate Buy” by the twenty-nine analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $101.44.

Several equities research analysts have commented on the stock. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Citigroup lowered their price target on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a report on Wednesday, October 8th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada set a $100.00 target price on shares of Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, for a total transaction of $994,500.00. Following the purchase, the director directly owned 53,096 shares in the company, valued at $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Starbucks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Game Plan Financial Advisors LLC purchased a new stake in Starbucks in the 2nd quarter worth approximately $25,000. Transce3nd LLC increased its holdings in shares of Starbucks by 270.3% in the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after purchasing an additional 200 shares during the period. Collier Financial purchased a new stake in shares of Starbucks in the third quarter worth $25,000. Chelsea Counsel Co. bought a new stake in Starbucks during the second quarter valued at $26,000. Finally, Y.D. More Investments Ltd purchased a new position in Starbucks during the third quarter worth about $26,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 2.4%

Starbucks stock opened at $83.34 on Friday. The business’s 50 day simple moving average is $83.85 and its 200 day simple moving average is $87.67. Starbucks has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a market cap of $94.77 billion, a price-to-earnings ratio of 50.82, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, equities research analysts forecast that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is presently 151.22%.

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.