Shares of Starbucks Co. (NASDAQ:SBUX – Get Free Report) rose 0.1% on Thursday after TD Cowen raised their price target on the stock from $105.00 to $110.00. TD Cowen currently has a buy rating on the stock. Starbucks traded as high as $92.99 and last traded at $92.44. Approximately 1,558,150 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 11,942,962 shares. The stock had previously closed at $92.33.
SBUX has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Jefferies Financial Group lowered their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $99.42.
Get Our Latest Stock Report on SBUX
Insider Activity
Hedge Funds Weigh In On Starbucks
Hedge funds have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter valued at $25,000. Vima LLC bought a new position in Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks during the fourth quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $26,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Institutional investors own 72.29% of the company’s stock.
Starbucks Price Performance
The business has a fifty day moving average of $82.14 and a 200-day moving average of $83.96. The stock has a market cap of $103.71 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.56 EPS for the current year.
Starbucks Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. Starbucks’s payout ratio is presently 62.81%.
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.
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