Starbucks (NASDAQ:SBUX) Stock Rating Upgraded by Robert W. Baird

Robert W. Baird upgraded shares of Starbucks (NASDAQ:SBUX) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have $110.00 price objective on the coffee company’s stock, up from their previous price objective of $81.00.

A number of other equities analysts have also issued reports on SBUX. DZ Bank lowered Starbucks from a buy rating to a hold rating and set a $75.00 price target on the stock. in a report on Friday, May 3rd. Stifel Nicolaus dropped their target price on Starbucks from $90.00 to $80.00 and set a hold rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They set a buy rating and a $100.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Starbucks from $92.00 to $90.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Finally, William Blair downgraded shares of Starbucks from an outperform rating to a market perform rating in a research report on Wednesday, May 1st. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $98.79.

Starbucks Stock Down 1.2 %

NASDAQ:SBUX traded down $1.13 during mid-day trading on Tuesday, reaching $93.75. 3,006,426 shares of the stock were exchanged, compared to its average volume of 11,978,159. The stock has a market capitalization of $106.24 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.80 and a beta of 0.94. Starbucks has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a 50 day simple moving average of $77.96 and a 200-day simple moving average of $83.99.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. As a group, research analysts predict that Starbucks will post 3.55 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.43%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,540 shares of company stock worth $879,291. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Starbucks during the 4th quarter worth $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks in the 1st quarter worth about $415,167,000. Marshall Wace LLP lifted its stake in shares of Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Starbucks during the 2nd quarter worth about $243,910,000. Finally, Flossbach Von Storch AG lifted its position in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.