UBS Group Raises Starbucks (NASDAQ:SBUX) Price Target to $87.00

Starbucks (NASDAQ:SBUX – Get Rating) had its target price hoisted by UBS Group from $82.00 to $87.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the coffee company’s stock.

Several other brokerages also recently weighed in on SBUX. BMO Capital Markets cut their price target on Starbucks from $115.00 to $105.00 in a report on Wednesday, May 4th. TheStreet downgraded Starbucks from a b- rating to a c+ rating in a report on Friday, April 22nd. Barclays dropped their price objective on Starbucks from $108.00 to $94.00 in a report on Wednesday, May 4th. Guggenheim dropped their price objective on Starbucks from $95.00 to $87.00 in a report on Wednesday, April 13th. Finally, Evercore ISI upgraded Starbucks from an in-line rating to an outperform rating and set a $95.00 price objective on the stock in a report on Wednesday, May 4th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $102.92.

Starbucks Trading Down 1.3 %

SBUX stock opened at $85.73 on Wednesday. The business’s fifty day moving average price is $78.88 and its 200 day moving average price is $83.14. Starbucks has a 12-month low of $68.39 and a 12-month high of $120.76. The company has a market capitalization of $98.32 billion, a PE ratio of 24.15, a P/E/G ratio of 2.73 and a beta of 0.95.

Starbucks (NASDAQ:SBUX – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the prior year, the business posted $1.01 EPS. Research analysts predict that Starbucks will post 2.85 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 2.29%. Starbucks’s payout ratio is 55.21%.

Insiders Place Their Bets

In related news, CEO Howard D. Schultz acquired 137,500 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $72.67 per share, with a total value of $9,992,125.00. Following the transaction, the chief executive officer now owns 19,534,460 shares of the company’s stock, valued at $1,419,569,208.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Howard D. Schultz acquired 137,500 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $72.67 per share, with a total value of $9,992,125.00. Following the transaction, the chief executive officer now owns 19,534,460 shares of the company’s stock, valued at $1,419,569,208.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard D. Schultz bought 72,500 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average cost of $68.85 per share, with a total value of $4,991,625.00. Following the completion of the purchase, the chief executive officer now owns 19,606,960 shares in the company, valued at approximately $1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

Large investors have recently modified their holdings of the business. Steward Financial Group LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. PYA Waltman Capital LLC purchased a new position in shares of Starbucks during the 4th quarter worth approximately $25,000. Rational Advisors LLC increased its stake in Starbucks by 141.4% in the 4th quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Guardian Wealth Management Inc. purchased a new position in Starbucks in the 4th quarter valued at approximately $25,000. Finally, Bromfield Sneider Wealth Advisors purchased a new position in Starbucks in the 1st quarter valued at approximately $25,000. 69.21% of the stock is owned by hedge funds and other institutional investors.

Starbucks Company Profile

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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.