Starbucks (NASDAQ:SBUX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Starbucks (NASDAQ:SBUX) had its target price hoisted by Stifel Nicolaus from $110.00 to $114.00 in a report issued on Monday, MarketBeat Ratings reports. Stifel Nicolaus currently has a buy rating on the coffee company’s stock.

A number of other research firms have also issued reports on SBUX. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Wedbush lowered their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.52.

Starbucks Stock Up 8.1 %

Starbucks stock opened at $108.58 on Monday. The firm has a market capitalization of $123.11 billion, a P/E ratio of 32.80, a PEG ratio of 2.91 and a beta of 0.99. The firm has a fifty day moving average of $95.70 and a 200-day moving average of $92.89. Starbucks has a 52-week low of $71.55 and a 52-week high of $110.08.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same quarter in the previous year, the firm earned $0.90 EPS. On average, research analysts expect that Starbucks will post 3.08 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Several large investors have recently bought and sold shares of SBUX. Magnolia Capital Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter valued at $1,383,000. Silver Lake Advisory LLC bought a new stake in Starbucks in the second quarter worth about $232,000. Sunbelt Securities Inc. lifted its holdings in Starbucks by 105.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 26,054 shares of the coffee company’s stock valued at $2,028,000 after acquiring an additional 13,393 shares during the last quarter. Invst LLC boosted its position in shares of Starbucks by 5.7% during the 2nd quarter. Invst LLC now owns 20,372 shares of the coffee company’s stock valued at $1,571,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Starbucks by 127.7% in the 2nd quarter. Quarry LP now owns 3,145 shares of the coffee company’s stock worth $245,000 after purchasing an additional 1,764 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.