Starbucks (NASDAQ:SBUX) Given New $92.00 Price Target at Wedbush

Starbucks (NASDAQ:SBUX) had its price objective lowered by Wedbush from $95.00 to $92.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the coffee company’s stock. Wedbush also issued estimates for Starbucks’ Q2 2024 earnings at $0.80 EPS, FY2024 earnings at $4.04 EPS, Q2 2025 earnings at $0.91 EPS and FY2025 earnings at $4.68 EPS.

SBUX has been the topic of several other research reports. BMO Capital Markets dropped their target price on Starbucks from $125.00 to $120.00 and set an outperform rating on the stock in a research report on Wednesday, January 31st. Oppenheimer reiterated a market perform rating on shares of Starbucks in a research note on Friday, April 19th. BTIG Research lowered their target price on shares of Starbucks from $125.00 to $115.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Gordon Haskett downgraded shares of Starbucks from a buy rating to a hold rating and set a $100.00 price target for the company. in a research report on Tuesday, January 16th. Finally, Piper Sandler decreased their price target on Starbucks from $107.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, January 19th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of Hold and a consensus target price of $106.55.

Starbucks Trading Up 0.1 %

Shares of SBUX stock opened at $88.33 on Friday. Starbucks has a twelve month low of $84.29 and a twelve month high of $115.48. The business’s 50 day moving average is $90.27 and its two-hundred day moving average is $94.27. The company has a market capitalization of $100.01 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. As a group, equities analysts predict that Starbucks will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last quarter. 1.98% of the stock is owned by insiders.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Willow Creek Wealth Management Inc. grew its stake in Starbucks by 3.0% during the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after buying an additional 97 shares during the period. Valley Brook Capital Group Inc. boosted its position in Starbucks by 2.4% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after purchasing an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. increased its holdings in Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after purchasing an additional 100 shares in the last quarter. Herold Advisors Inc. raised its position in Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after purchasing an additional 100 shares during the period. Finally, Rodgers Brothers Inc. lifted its stake in shares of Starbucks by 1.2% during the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds 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.