Starbucks’ (SBUX) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Starbucks (NASDAQ:SBUX) in a research report report published on Friday,Benzinga reports. Royal Bank of Canada currently has a $115.00 price objective on the coffee company’s stock.

SBUX has been the topic of several other research reports. Barclays reduced their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup increased their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. UBS Group upped their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Wedbush dropped their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Starbucks Trading Up 0.8 %

SBUX opened at $98.81 on Friday. The stock has a market cap of $112.03 billion, a PE ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.99. Starbucks has a 1 year low of $71.55 and a 1 year high of $103.32. The stock’s 50 day simple moving average is $95.66 and its 200-day simple moving average is $92.39.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. Equities analysts forecast that Starbucks will post 3.08 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the 2nd quarter worth about $25,000. Financial Life Planners bought a new stake in shares of Starbucks during the fourth quarter worth about $25,000. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after buying an additional 121 shares during the period. FSA Wealth Management LLC bought a new position in Starbucks in the 3rd quarter valued at approximately $49,000. Finally, Friedenthal Financial acquired a new stake in Starbucks during the 3rd quarter worth approximately $50,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

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.