Starbucks (NASDAQ:SBUX) Price Target Cut to $105.00 by Analysts at Stifel Nicolaus

Starbucks (NASDAQ:SBUX) had its price target decreased by Stifel Nicolaus from $110.00 to $105.00 in a research note released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the coffee company’s stock.

A number of other research firms also recently issued reports on SBUX. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Price Performance

NASDAQ SBUX opened at $97.31 on Wednesday. The firm has a market cap of $110.22 billion, a P/E ratio of 26.81, a P/E/G ratio of 2.14 and a beta of 0.97. The stock’s 50-day moving average is $95.48 and its 200-day moving average is $85.03. Starbucks has a one year low of $71.55 and a one year high of $107.66.

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

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.51%. Starbucks’s payout ratio is currently 67.22%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on 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 transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Several hedge funds and other institutional investors have recently modified their holdings of the business. Riverview Trust Co grew its position in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares during the last quarter. DT Investment Partners LLC grew its position in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after acquiring an additional 121 shares during the last quarter. Childress Capital Advisors LLC grew its position in Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after acquiring an additional 126 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its position in Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after acquiring an additional 127 shares during the last quarter. Finally, Keystone Wealth Services LLC grew its position in Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

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.