Starbucks (NASDAQ:SBUX) Price Target Raised to $100.00 at Barclays

Starbucks (NASDAQ:SBUXGet Rating) had its price objective raised by Barclays from $96.00 to $100.00 in a research note published on Wednesday morning, The Fly reports. Barclays currently has an overweight rating on the coffee company’s stock.

Other research analysts have also issued reports about the stock. UBS Group raised their target price on shares of Starbucks from $82.00 to $87.00 and gave the company a neutral rating in a report on Wednesday, August 3rd. Robert W. Baird reissued a neutral rating and issued a $83.00 target price on shares of Starbucks in a report on Thursday, August 4th. Piper Sandler raised their target price on shares of Starbucks from $80.00 to $84.00 and gave the company a neutral rating in a report on Monday, July 18th. Wedbush raised their target price on shares of Starbucks from $81.00 to $86.00 and gave the company a neutral rating in a report on Wednesday, August 3rd. Finally, Cowen lifted their price objective on shares of Starbucks from $94.00 to $104.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. Fifteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $103.86.

Starbucks Price Performance

Shares of SBUX opened at $92.70 on Wednesday. Starbucks has a 1 year low of $68.39 and a 1 year high of $117.80. The company has a 50 day simple moving average of $84.35 and a two-hundred day simple moving average of $81.41. The firm has a market cap of $106.36 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 2.76 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter last year, the company posted $1.01 earnings per share. On average, sell-side analysts anticipate that Starbucks will post 2.88 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were issued a $0.49 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 2.11%. Starbucks’s payout ratio is currently 55.21%.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its holdings in Starbucks by 3.1% in the second quarter. Brown Advisory Inc. now owns 560,772 shares of the coffee company’s stock worth $42,838,000 after purchasing an additional 16,735 shares in the last quarter. Hussman Strategic Advisors Inc. raised its holdings in Starbucks by 198.1% in the second quarter. Hussman Strategic Advisors Inc. now owns 62,000 shares of the coffee company’s stock worth $4,736,000 after purchasing an additional 41,200 shares in the last quarter. Fundamentun LLC raised its holdings in Starbucks by 1.0% in the second quarter. Fundamentun LLC now owns 45,731 shares of the coffee company’s stock worth $3,493,000 after purchasing an additional 456 shares in the last quarter. Amundi raised its holdings in Starbucks by 10.3% in the second quarter. Amundi now owns 3,376,472 shares of the coffee company’s stock worth $262,787,000 after purchasing an additional 316,497 shares in the last quarter. Finally, Columbia Asset Management bought a new position in Starbucks in the second quarter worth about $6,806,000. 67.97% of the stock is currently owned by institutional investors.

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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