Royal Bank of Canada reiterated their outperform rating on shares of Starbucks (NASDAQ:SBUX – Free Report) in a report published on Friday morning,Benzinga reports. They currently have a $115.00 target price on the coffee company’s stock.
Other analysts also recently issued reports about the company. Stifel Nicolaus increased their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, Morgan Stanley lifted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.
Check Out Our Latest Stock Analysis on Starbucks
Starbucks Price Performance
Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company earned $1.06 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Starbucks will post 3.08 EPS for the current year.
Starbucks Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. Starbucks’s dividend payout ratio is currently 73.72%.
Insider Activity at Starbucks
In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.98% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Aspire Capital Advisors LLC boosted its holdings in shares of Starbucks by 0.5% in the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after buying an additional 104 shares during the last quarter. Riverview Trust Co boosted its stake in Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares during the last quarter. Optas LLC grew its position in shares of Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after acquiring an additional 105 shares during the period. Boomfish Wealth Group LLC increased its stake in shares of Starbucks by 0.7% during the 4th quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after purchasing an additional 108 shares during the last quarter. Finally, Foster Group Inc. raised its holdings in shares of Starbucks by 4.0% in the 4th quarter. Foster Group Inc. now owns 2,885 shares of the coffee company’s stock worth $263,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors 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.
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