Analysts Set Starbucks Co. (NASDAQ:SBUX) PT at $98.72

Starbucks Co. (NASDAQ:SBUX) has received a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $98.72.

A number of research firms have issued reports on SBUX. Wedbush boosted their target price on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered shares of Starbucks from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Barclays cut their price objective on shares of Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. StockNews.com downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Finally, Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 target price on the stock in a research report on Wednesday, April 9th.

Starbucks Trading Down 0.6 %

NASDAQ SBUX opened at $82.19 on Tuesday. Starbucks has a 1-year low of $71.55 and a 1-year high of $117.46. The company has a 50 day moving average of $90.64 and a 200-day moving average of $97.00. The firm has a market cap of $93.40 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.59 and a beta of 0.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. Starbucks’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. On average, analysts forecast that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.97%. Starbucks’s dividend payout ratio is presently 88.41%.

Institutional Investors Weigh In On Starbucks

Institutional investors have recently bought and sold shares of the stock. IFG Advisory LLC purchased a new position in Starbucks in the first quarter worth $222,000. Pettyjohn Wood & White Inc. increased its holdings in shares of Starbucks by 0.4% in the first quarter. Pettyjohn Wood & White Inc. now owns 33,338 shares of the coffee company’s stock worth $3,270,000 after purchasing an additional 129 shares during the period. UNIVEST FINANCIAL Corp raised its position in shares of Starbucks by 7.1% in the first quarter. UNIVEST FINANCIAL Corp now owns 6,146 shares of the coffee company’s stock worth $603,000 after buying an additional 407 shares in the last quarter. Baker Avenue Asset Management LP purchased a new position in shares of Starbucks during the first quarter worth about $263,000. Finally, Moors & Cabot Inc. raised its position in Starbucks by 29.8% during the first quarter. Moors & Cabot Inc. now owns 16,699 shares of the coffee company’s stock valued at $1,638,000 after purchasing an additional 3,833 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

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.