Starbucks (NASDAQ:SBUX) Stock Price Up 0.1% Following Analyst Upgrade

Shares of Starbucks Co. (NASDAQ:SBUX) 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.

Insider Activity

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 over the last 90 days. Corporate insiders own 1.98% of the company’s stock.

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) 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.