Starbucks’ (SBUX) “Market Perform” Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their market perform rating on shares of Starbucks (NASDAQ:SBUX) in a research report report published on Monday, Benzinga reports.

A number of other research firms have also recently weighed in on SBUX. Morgan Stanley reiterated an overweight rating and set a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. Evercore ISI raised shares of Starbucks from an in-line rating to an outperform rating and increased their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. BTIG Research dropped their target price on Starbucks from $115.00 to $100.00 and set a buy rating for the company in a research report on Wednesday, May 1st. William Blair downgraded Starbucks from an outperform rating to a market perform rating in a report on Wednesday, May 1st. Finally, Baird R W raised Starbucks from a hold rating to a strong-buy rating in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of Moderate Buy and a consensus target price of $99.21.

Starbucks Stock Up 1.7 %

SBUX stock opened at $95.63 on Monday. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a market capitalization of $108.32 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The company has a fifty day simple moving average of $79.79 and a two-hundred day simple moving average of $83.82.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that Starbucks will post 3.55 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 in the last 90 days. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in shares of Starbucks by 1,299.8% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 466,506 shares of the coffee company’s stock valued at $44,789,000 after purchasing an additional 433,179 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Starbucks by 4.8% during the 4th quarter. Russell Investments Group Ltd. now owns 771,648 shares of the coffee company’s stock worth $74,083,000 after buying an additional 35,691 shares in the last quarter. Principle Wealth Partners LLC raised its holdings in shares of Starbucks by 5.1% during the fourth quarter. Principle Wealth Partners LLC now owns 12,752 shares of the coffee company’s stock valued at $1,224,000 after acquiring an additional 615 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its position in shares of Starbucks by 6.5% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,873 shares of the coffee company’s stock valued at $276,000 after acquiring an additional 175 shares in the last quarter. Finally, Magnus Financial Group LLC increased its position in shares of Starbucks by 63.3% during the fourth quarter. Magnus Financial Group LLC now owns 8,103 shares of the coffee company’s stock worth $778,000 after purchasing an additional 3,142 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.