Morgan Stanley Boosts Starbucks (NASDAQ:SBUX) Price Target to $91.00

Starbucks (NASDAQ:SBUX) had its target price lifted by Morgan Stanley from $79.00 to $91.00 in a research note released on Wednesday, Anlyst Ratings reports. They currently have an equal weight rating on the coffee company’s stock.

SBUX has been the topic of several other research reports. Oppenheimer boosted their price objective on Starbucks from $85.00 to $101.00 and gave the stock an outperform rating in a report on Monday, October 5th. UBS Group boosted their price objective on Starbucks from $77.00 to $81.00 and gave the stock a neutral rating in a report on Wednesday, July 29th. Barclays boosted their price objective on Starbucks from $88.00 to $94.00 and gave the stock an overweight rating in a report on Wednesday, July 29th. ValuEngine downgraded Starbucks from a buy rating to a hold rating in a report on Wednesday, September 9th. Finally, Stifel Nicolaus upgraded Starbucks from a hold rating to a buy rating and set a $90.00 target price on the stock in a report on Monday, August 24th. Sixteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $86.73.

NASDAQ SBUX opened at $88.52 on Wednesday. The stock’s 50-day moving average price is $86.35 and its two-hundred day moving average price is $78.11. The company has a market cap of $103.48 billion, a PE ratio of 79.75, a PEG ratio of 6.38 and a beta of 0.81. Starbucks has a 1 year low of $50.02 and a 1 year high of $94.13.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.14 billion. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The business’s revenue for the quarter was down 38.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. On average, research analysts forecast that Starbucks will post 0.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be paid a $0.45 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, November 10th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. Starbucks’s payout ratio is presently 57.95%.

In other Starbucks news, Director Clara Shih sold 37,498 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $79.13, for a total transaction of $2,967,216.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin R. Johnson sold 107,762 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $90.08, for a total value of $9,707,200.96. The disclosure for this sale can be found here. Insiders have sold 153,764 shares of company stock valued at $13,404,656 in the last ninety days. Company insiders own 0.41% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SBUX. Endurance Wealth Management Inc. lifted its holdings in shares of Starbucks by 1,352.7% during the second quarter. Endurance Wealth Management Inc. now owns 32,817 shares of the coffee company’s stock worth $2,415,000 after buying an additional 30,558 shares during the last quarter. Signature Wealth Management Group lifted its holdings in shares of Starbucks by 8.8% during the second quarter. Signature Wealth Management Group now owns 9,688 shares of the coffee company’s stock worth $713,000 after buying an additional 787 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Starbucks by 7.7% during the first quarter. Clearbridge Investments LLC now owns 154,666 shares of the coffee company’s stock worth $10,168,000 after buying an additional 11,024 shares during the last quarter. D. B. Root & Company LLC lifted its holdings in shares of Starbucks by 3.0% during the second quarter. D. B. Root & Company LLC now owns 11,700 shares of the coffee company’s stock worth $861,000 after buying an additional 343 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Starbucks by 2.1% during the second quarter. State of Alaska Department of Revenue now owns 207,745 shares of the coffee company’s stock worth $15,287,000 after buying an additional 4,300 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Featured Article: Basic Economics creates winners and losers

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.