Starbucks (NASDAQ:SBUX) Price Target Raised to $110.00 at Barclays

Starbucks (NASDAQ:SBUX) had its price objective upped by Barclays from $93.00 to $110.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the coffee company’s stock.

SBUX has been the subject of several other reports. Piper Sandler raised Starbucks from a neutral rating to an overweight rating and upped their target price for the company from $85.00 to $103.00 in a report on Tuesday. UBS Group decreased their price objective on Starbucks from $95.00 to $85.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised Starbucks from a hold rating to a buy rating and increased their price objective for the stock from $85.00 to $118.00 in a report on Wednesday. Robert W. Baird raised Starbucks from a neutral rating to an outperform rating and increased their price objective for the stock from $81.00 to $110.00 in a report on Tuesday. Finally, Citigroup decreased their price objective on Starbucks from $85.00 to $80.00 and set a neutral rating for the company in a report on Monday, July 22nd. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $98.79.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $0.29 during trading on Wednesday, hitting $93.61. The company’s stock had a trading volume of 4,519,650 shares, compared to its average volume of 11,929,635. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock’s 50-day moving average price is $77.69 and its two-hundred day moving average price is $83.91. The company has a market capitalization of $106.08 billion, a PE ratio of 25.79, a PEG ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during 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 quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 earnings per share. On average, equities analysts predict that Starbucks will post 3.55 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.44%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock valued at $579,375 in the last three months. 1.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Starbucks

Several hedge funds have recently bought and sold shares of the business. Daymark Wealth Partners LLC increased its position in Starbucks by 21.8% during the second quarter. Daymark Wealth Partners LLC now owns 14,254 shares of the coffee company’s stock worth $1,110,000 after buying an additional 2,552 shares during the last quarter. DoubleLine ETF Adviser LP bought a new stake in Starbucks during the second quarter valued at about $2,361,000. Drucker Wealth 3.0 LLC bought a new stake in Starbucks during the second quarter valued at about $3,479,000. Elgethun Capital Management boosted its holdings in Starbucks by 4.2% during the second quarter. Elgethun Capital Management now owns 44,863 shares of the coffee company’s stock valued at $3,493,000 after acquiring an additional 1,789 shares during the period. Finally, Alley Investment Management Company LLC boosted its holdings in Starbucks by 1.1% during the second quarter. Alley Investment Management Company LLC now owns 144,115 shares of the coffee company’s stock valued at $11,219,000 after acquiring an additional 1,620 shares during the period. 72.29% of the stock is 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.