Starbucks (NASDAQ:SBUX) Stock Rating Reaffirmed by TD Cowen

TD Cowen reiterated their hold rating on shares of Starbucks (NASDAQ:SBUX) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $100.00 price objective on the coffee company’s stock.

Several other research analysts also recently commented on SBUX. Stephens reissued an equal weight rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Royal Bank of Canada reissued a sector perform rating and set a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Wells Fargo & Company reaffirmed an overweight rating and issued a $105.00 target price on shares of Starbucks in a research note on Monday, April 1st. JPMorgan Chase & Co. decreased their target price on shares of Starbucks from $107.00 to $100.00 and set an overweight rating on the stock in a research note on Tuesday, March 19th. Finally, Wedbush reissued a neutral rating and set a $95.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $108.29.

Starbucks Price Performance

Shares of Starbucks stock opened at $85.90 on Thursday. Starbucks has a 1 year low of $85.26 and a 1 year high of $115.48. The firm has a market cap of $97.26 billion, a PE ratio of 22.97, a PEG ratio of 1.37 and a beta of 0.97. The company has a 50 day simple moving average of $92.02 and a two-hundred day simple moving average of $94.62.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. As a group, research analysts anticipate that Starbucks will post 4.05 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.65%. Starbucks’s payout ratio is 60.96%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,000 shares of company stock worth $375,665 in the last three months. 1.98% of the stock is owned by company insiders.

Institutional Trading of Starbucks

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares during the last quarter. State Street Corp grew its stake in shares of Starbucks by 0.3% during the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock worth $4,594,235,000 after acquiring an additional 135,644 shares during the last quarter. Morgan Stanley grew its stake in shares of Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after acquiring an additional 8,451,599 shares during the last quarter. Northern Trust Corp grew its stake in shares of Starbucks by 1.5% during the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after acquiring an additional 232,031 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Starbucks during the fourth quarter worth about $1,240,652,000. 72.29% of the stock is currently owned by 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.