Brokerages Set Starbucks Corporation (NASDAQ:SBUX) Price Target at $104.00

Shares of Starbucks Corporation (NASDAQ:SBUX) have earned an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $104.00.

Several brokerages have issued reports on SBUX. Stifel Nicolaus upped their target price on Starbucks from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, July 11th. TD Cowen reissued a “hold” rating and set a $95.00 price target on shares of Starbucks in a research report on Thursday, September 25th. The Goldman Sachs Group restated a “neutral” rating and set a $95.00 price objective (up from $85.00) on shares of Starbucks in a research report on Thursday, June 12th. Loop Capital set a $165.00 price target on shares of Starbucks in a research report on Tuesday, August 12th. Finally, Piper Sandler set a $105.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research report on Wednesday, July 30th.

Starbucks Price Performance

SBUX opened at $86.42 on Friday. The company’s 50 day simple moving average is $87.56 and its two-hundred day simple moving average is $88.46. Starbucks has a 1-year low of $75.50 and a 1-year high of $117.46. The firm has a market capitalization of $98.23 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.25 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 29th. The coffee company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.29 billion. During the same quarter last year, the company earned $0.93 earnings per share. Starbucks’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 105.17%.

Institutional Trading of Starbucks

Several hedge funds have recently made changes to their positions in the business. Game Plan Financial Advisors LLC purchased a new stake in Starbucks during the 2nd quarter worth approximately $25,000. Transce3nd LLC grew its stake in shares of Starbucks by 270.3% in the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Chelsea Counsel Co. purchased a new stake in shares of Starbucks during the second quarter worth $26,000. Hughes Financial Services LLC acquired a new stake in shares of Starbucks in the first quarter valued at $27,000. Finally, CBIZ Investment Advisory Services LLC raised its stake in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.