Starbucks (NASDAQ:SBUX) Stock Rating Reaffirmed by Wedbush

Wedbush reissued their neutral rating on shares of Starbucks (NASDAQ:SBUX) in a research note issued to investors on Friday morning, Benzinga reports. Wedbush currently has a $81.00 target price on the coffee company’s stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an overweight rating on the stock in a research report on Friday, April 12th. Robert W. Baird lowered their price objective on shares of Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a buy rating to a hold rating and reduced their target price for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Evercore ISI lowered their price target on Starbucks from $120.00 to $92.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Finally, Stifel Nicolaus reduced their price objective on Starbucks from $90.00 to $80.00 and set a hold rating for the company in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $94.54.

Starbucks Price Performance

NASDAQ SBUX opened at $77.85 on Friday. The company has a fifty day moving average of $79.66 and a two-hundred day moving average of $88.09. The company has a market capitalization of $88.18 billion, a PE ratio of 21.45, a P/E/G ratio of 1.73 and a beta of 0.96. Starbucks has a 1 year low of $71.80 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, research analysts expect that Starbucks will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock valued at $878,893 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently made changes to their positions in the stock. Vima LLC purchased a new position in Starbucks in the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $27,000. Riggs Asset Managment Co. Inc. boosted its position in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Fairman Group LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

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.