Starbucks’ (SBUX) Market Perform Rating Reaffirmed at Oppenheimer

Oppenheimer restated their market perform rating on shares of Starbucks (NASDAQ:SBUX) in a report issued on Friday, Benzinga reports.

SBUX has been the topic of several other research reports. Barclays decreased their target price on Starbucks from $116.00 to $112.00 and set an overweight rating on the stock in a research report on Wednesday, January 31st. Robert W. Baird cut their target price on Starbucks from $106.00 to $100.00 and set a neutral rating for the company in a research note on Monday, March 18th. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a neutral rating for the company in a research note on Friday, January 19th. Gordon Haskett cut Starbucks from a buy rating to a hold rating and set a $100.00 target price for the company. in a research note on Tuesday, January 16th. Finally, Citigroup cut their target price on Starbucks from $102.00 to $95.00 and set a neutral rating for the company in a research note on Friday, April 12th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of Hold and an average price target of $106.68.

Starbucks Trading Up 0.5 %

Shares of SBUX stock opened at $87.61 on Friday. The company has a market capitalization of $99.19 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.41 and a beta of 0.97. The business’s 50 day moving average is $90.94 and its two-hundred day moving average is $94.39. Starbucks has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. On average, research analysts predict that Starbucks will post 4.03 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $653,183. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after acquiring an additional 1,041,622 shares during the period. State Street Corp increased its position in Starbucks by 0.3% in the 1st quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after acquiring an additional 135,644 shares during the period. Morgan Stanley increased its position in Starbucks by 46.3% in the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after acquiring an additional 8,451,599 shares during the period. Northern Trust Corp increased its position in Starbucks by 1.5% in the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the period. Finally, Norges Bank acquired a new position in Starbucks during the 4th quarter worth approximately $1,240,652,000. 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.