Starbucks (NASDAQ:SBUX) Earns Market Perform Rating from Oppenheimer

Oppenheimer reaffirmed their market perform rating on shares of Starbucks (NASDAQ:SBUX) in a research note issued to investors on Friday, Benzinga reports.

Other equities research analysts also recently issued reports about the stock. Wedbush restated a neutral rating and issued a $95.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Stifel Nicolaus dropped their price target on shares of Starbucks from $102.00 to $90.00 and set a hold rating for the company in a research note on Thursday, April 11th. Stephens restated an equal weight rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Gordon Haskett downgraded Starbucks from a buy rating to a hold rating and set a $100.00 target price on the stock. in a report on Tuesday, January 16th. Finally, Barclays cut their price objective on Starbucks from $116.00 to $112.00 and set an overweight rating on the stock in a research note on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of Hold and a consensus target price of $106.68.

Starbucks Stock Up 0.7 %

Shares of Starbucks stock opened at $88.18 on Friday. The firm’s 50-day moving average price is $90.80 and its two-hundred day moving average price is $94.42. Starbucks has a 12-month low of $84.29 and a 12-month high of $115.48. The company has a market capitalization of $99.84 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.42 and a beta of 0.97.

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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts expect that Starbucks will post 4.01 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of 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 filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 7,000 shares of company stock valued at $629,738. 1.98% of the stock is owned by company insiders.

Institutional Trading of Starbucks

Several hedge funds have recently bought and sold shares of the business. Vima LLC bought a new position in shares of Starbucks in the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks during the 4th quarter valued at about $27,000. Riggs Asset Managment Co. Inc. increased its holdings in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Fairman Group LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.