Starbucks (NASDAQ:SBUX) Given New $105.00 Price Target at Stifel Nicolaus

Starbucks (NASDAQ:SBUX) had its price objective decreased by Stifel Nicolaus from $110.00 to $105.00 in a report issued on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the coffee company’s stock.

SBUX has been the topic of several other reports. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Starbucks Price Performance

NASDAQ SBUX opened at $97.65 on Wednesday. The company has a market capitalization of $110.61 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks has a 12 month low of $71.55 and a 12 month high of $107.66. The company’s fifty day moving average price is $95.38 and its two-hundred day moving average price is $84.89.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that Starbucks will post 3.55 EPS 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 issued a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is presently 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The trade was 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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Starbucks by 12.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 379,257 shares of the coffee company’s stock valued at $36,924,000 after acquiring an additional 42,402 shares in the last quarter. Osborne Partners Capital Management LLC purchased a new stake in shares of Starbucks in the third quarter valued at $206,000. Allworth Financial LP boosted its position in shares of Starbucks by 2.4% in the third quarter. Allworth Financial LP now owns 178,973 shares of the coffee company’s stock worth $17,448,000 after buying an additional 4,267 shares during the period. Signet Investment Advisory Group Inc. grew its holdings in shares of Starbucks by 2.9% during the third quarter. Signet Investment Advisory Group Inc. now owns 23,510 shares of the coffee company’s stock valued at $2,292,000 after buying an additional 663 shares in the last quarter. Finally, North Ridge Wealth Advisors Inc. acquired a new position in Starbucks during the third quarter valued at $217,000. 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.