Starbucks (NASDAQ:SBUX) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a buy rating in a report released on Wednesday, Marketbeat.com reports. Deutsche Bank Aktiengesellschaft currently has $118.00 target price on the coffee company’s stock, up from their previous target price of $85.00.

Several other equities analysts have also issued reports on the company. UBS Group decreased their target price on Starbucks from $95.00 to $85.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $92.00 to $90.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Wedbush reissued a neutral rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a buy rating and a $100.00 price target for the company. Finally, HSBC decreased their target price on Starbucks from $107.00 to $84.00 and set a hold rating for the company in a report on Friday, May 3rd. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $98.79.

Starbucks Stock Up 0.5 %

NASDAQ SBUX opened at $94.81 on Wednesday. The business’s fifty day simple moving average is $78.23 and its 200-day simple moving average is $83.92. The firm has a market cap of $107.39 billion, a PE ratio of 26.12, a P/E/G ratio of 2.25 and a beta of 0.94. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66.

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

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 completion of the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,540 shares of company stock worth $879,291. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently modified their holdings of the business. Vima LLC purchased a new position in Starbucks in the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter valued at about $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC boosted its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

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.