Starbucks Corporation (NASDAQ:SBUX) Receives $103.65 Average PT from Brokerages

Starbucks Corporation (NASDAQ:SBUX) has received an average rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $103.6538.

SBUX has been the topic of several research analyst reports. CICC Research initiated coverage on shares of Starbucks in a report on Monday, June 30th. They set an “outperform” rating and a $100.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Starbucks from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. BMO Capital Markets restated an “outperform” rating and set a $115.00 price target (up from $100.00) on shares of Starbucks in a report on Wednesday, July 30th. Sanford C. Bernstein upped their price objective on shares of Starbucks from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Guggenheim upped their price objective on shares of Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, July 31st.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. TrinityPoint Wealth LLC raised its position in Starbucks by 2.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock worth $312,000 after purchasing an additional 89 shares in the last quarter. Foster Dykema Cabot & Partners LLC raised its position in Starbucks by 10.6% in the fourth quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock worth $93,000 after purchasing an additional 97 shares in the last quarter. Gamco Investors INC. ET AL raised its position in Starbucks by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,860 shares of the coffee company’s stock worth $261,000 after purchasing an additional 97 shares in the last quarter. Mendel Capital Management LLC raised its position in Starbucks by 1.8% in the fourth quarter. Mendel Capital Management LLC now owns 5,721 shares of the coffee company’s stock worth $522,000 after purchasing an additional 101 shares in the last quarter. Finally, Alliance Wealth Advisors LLC raised its position in Starbucks by 2.1% in the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 2.1%

Shares of NASDAQ:SBUX opened at $92.54 on Thursday. The company’s fifty day moving average is $92.83 and its two-hundred day moving average is $93.88. Starbucks has a 12-month low of $75.50 and a 12-month high of $117.46. The company has a market cap of $105.19 billion, a P/E ratio of 39.89, a price-to-earnings-growth ratio of 5.32 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.6%. Starbucks’s dividend payout ratio is currently 105.17%.

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.