Starbucks (NASDAQ:SBUX) Price Target Lowered to $108.00 at Barclays

Starbucks (NASDAQ:SBUX) had its price objective trimmed by Barclays from $110.00 to $108.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the coffee company’s stock.

A number of other research firms also recently issued reports on SBUX. UBS Group boosted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Stock Up 1.2 %

SBUX opened at $98.87 on Thursday. The stock has a market capitalization of $112.04 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. The firm has a 50 day moving average price of $95.98 and a 200-day moving average price of $85.46. Starbucks has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm earned $1.06 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts expect that Starbucks will post 3.42 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is currently 73.72%.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Starbucks

Several large investors have recently added to or reduced their stakes in SBUX. Atria Investments Inc raised its holdings in Starbucks by 9.3% during the 3rd quarter. Atria Investments Inc now owns 157,916 shares of the coffee company’s stock valued at $15,395,000 after buying an additional 13,479 shares during the period. Essex Savings Bank raised its stake in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after acquiring an additional 112 shares during the period. Acorn Financial Advisory Services Inc. ADV bought a new stake in shares of Starbucks in the 3rd quarter worth about $211,000. Cypress Point Wealth Management LLC purchased a new position in shares of Starbucks during the 3rd quarter worth about $653,000. Finally, Tompkins Financial Corp grew its holdings in Starbucks by 78.0% during the 3rd quarter. Tompkins Financial Corp now owns 1,045 shares of the coffee company’s stock valued at $102,000 after purchasing an additional 458 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Company Profile

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.