Starbucks Co. (NASDAQ:SBUX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Starbucks Co. (NASDAQ:SBUX) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $102.48.

A number of analysts have weighed in on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and cut their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Citigroup dropped their price objective on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBUX. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter worth approximately $415,167,000. Marshall Wace LLP lifted its stake in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of Starbucks during the 2nd quarter worth $243,910,000. Flossbach Von Storch AG lifted its stake in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Capital World Investors purchased a new position in shares of Starbucks during the 1st quarter worth $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 0.5 %

Shares of NASDAQ SBUX opened at $97.15 on Friday. The stock has a market cap of $110.09 billion, a P/E ratio of 27.21, a PEG ratio of 2.14 and a beta of 0.97. Starbucks has a 12-month low of $71.55 and a 12-month high of $107.66. The business’s fifty day simple moving average is $95.38 and its 200-day simple moving average is $84.89.

Starbucks (NASDAQ:SBUX) last posted 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. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Starbucks will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 63.87%.

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.