Starbucks (NASDAQ:SBUX) Given New $124.00 Price Target at Barclays

Starbucks (NASDAQ:SBUX) had its price objective upped by Barclays from $119.00 to $124.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the coffee company’s stock.

A number of other research firms also recently commented on SBUX. UBS Group increased their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Finally, BTIG Research boosted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $105.52.

Starbucks Trading Up 8.1 %

SBUX stock opened at $108.58 on Wednesday. The firm has a 50 day simple moving average of $95.70 and a 200-day simple moving average of $92.89. The company has a market capitalization of $123.11 billion, a P/E ratio of 32.80, a PEG ratio of 2.91 and a beta of 0.99. Starbucks has a twelve month low of $71.55 and a twelve month high of $110.08.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same quarter last year, the company posted $0.90 earnings per share. On average, research analysts predict that Starbucks will post 3.08 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.25%. Starbucks’s dividend payout ratio is presently 73.72%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SBUX. Jmac Enterprises LLC boosted its position in shares of Starbucks by 1.0% during the 4th quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock valued at $912,000 after purchasing an additional 103 shares in the last quarter. Aspire Capital Advisors LLC lifted its stake in Starbucks by 0.5% during the fourth quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock valued at $2,118,000 after purchasing an additional 104 shares during the last quarter. Riverview Trust Co boosted its holdings in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after buying an additional 105 shares in the last quarter. Optas LLC grew its position in Starbucks by 0.6% in the fourth quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock worth $1,525,000 after buying an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its holdings in shares of Starbucks by 0.7% in the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock valued at $1,399,000 after buying an additional 108 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.