Starbucks Co. (NASDAQ:SBUX) Receives $96.43 Consensus Target Price from Analysts

Shares of Starbucks Co. (NASDAQ:SBUX) have earned an average rating of “Hold” from the twenty-five ratings firms that are presently covering the company, Marketbeat Ratings reports. Sixteen analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $96.43.

SBUX has been the subject of a number of analyst reports. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Robert W. Baird dropped their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company cut their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,000 shares of company stock valued at $342,050 over the last ninety days. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. Vanguard Group Inc. grew its position in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after buying an additional 470,498 shares during the last quarter. Northern Trust Corp grew its holdings in Starbucks by 1.5% during the 3rd 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 period. Norges Bank acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $1,240,652,000. Fisher Asset Management LLC lifted its position in shares of Starbucks by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after acquiring an additional 268,030 shares during the period. Finally, Invesco Ltd. grew its holdings in Starbucks by 11.8% in the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock worth $962,144,000 after purchasing an additional 1,115,051 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $78.31 on Tuesday. The company’s 50-day moving average price is $84.31 and its two-hundred day moving average price is $92.05. Starbucks has a one year low of $71.80 and a one year high of $107.66. The stock has a market capitalization of $88.70 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 1.68 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the prior year, the company earned $0.74 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts anticipate that Starbucks will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.91%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

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.