Starbucks (NASDAQ:SBUX) Given New $110.00 Price Target at Barclays

Starbucks (NASDAQ:SBUX) had its price objective increased by Barclays from $93.00 to $110.00 in a research report sent to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the coffee company’s stock.

Several other research firms have also recently weighed in on SBUX. Evercore ISI raised Starbucks from an in-line rating to an outperform rating and raised their price target for the company from $80.00 to $120.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised Starbucks from a hold rating to a buy rating and raised their price objective for the company from $85.00 to $118.00 in a report on Wednesday. William Blair cut Starbucks from an outperform rating to a market perform rating in a report on Wednesday, May 1st. Citigroup decreased their price objective on Starbucks from $85.00 to $80.00 and set a neutral rating on the stock in a report on Monday, July 22nd. Finally, Oppenheimer reissued a market perform rating on shares of Starbucks in a report on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of Moderate Buy and an average target price of $98.79.

Starbucks Stock Up 0.5 %

Shares of NASDAQ SBUX opened at $94.81 on Wednesday. The business has a 50-day simple moving average of $78.23 and a two-hundred day simple moving average of $83.92. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a market cap of $107.39 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.25 and a beta of 0.94.

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

Starbucks Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.40%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Transactions at Starbucks

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

Institutional Investors Weigh In On Starbucks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orca Investment Management LLC grew its stake in Starbucks by 6.6% in the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares during the period. Cox Capital Mgt LLC grew its stake in shares of Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares during the last quarter. Summa Corp. purchased a new stake in shares of Starbucks in the fourth quarter worth $384,000. Brevan Howard Capital Management LP purchased a new stake in shares of Starbucks in the fourth quarter worth $2,781,000. Finally, FFT Wealth Management LLC purchased a new stake in shares of Starbucks in the fourth quarter worth $209,000. 72.29% of the stock is owned by hedge funds and other 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.