Starbucks (NASDAQ:SBUX) Rating Increased to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a buy rating in a report published on Wednesday, Marketbeat.com reports. The brokerage currently has $110.00 price objective on the coffee company’s stock, up from their prior price objective of $80.00.

A number of other equities analysts also recently issued reports on SBUX. Baird R W raised shares of Starbucks from a hold rating to a strong-buy rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a hold rating to a buy rating and increased their price objective for the company from $85.00 to $118.00 in a research note on Wednesday. HSBC decreased their price target on Starbucks from $107.00 to $84.00 and set a hold rating for the company in a research report on Friday, May 3rd. Jefferies Financial Group cut their price objective on Starbucks from $84.00 to $80.00 and set a hold rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on Starbucks from $92.00 to $90.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks has a consensus rating of Moderate Buy and a consensus price target of $98.79.

Starbucks Stock Up 0.5 %

NASDAQ SBUX opened at $94.81 on Wednesday. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50 day moving average price of $78.23 and a 200-day moving average price of $83.92. The company has a market cap of $107.39 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 2.25 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business posted $1.00 EPS. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,540 shares of company stock valued at $879,291. Company insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

A number of large investors have recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners bought a new position in shares of Starbucks during the fourth quarter valued at about $38,000. Flputnam Investment Management Co. grew its position in shares of Starbucks by 25.0% in the 4th quarter. Flputnam Investment Management Co. now owns 4,573 shares of the coffee company’s stock worth $439,000 after buying an additional 915 shares during the last quarter. Buffington Mohr McNeal purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $214,000. Octavia Wealth Advisors LLC raised its holdings in shares of Starbucks by 81.5% during the fourth quarter. Octavia Wealth Advisors LLC now owns 4,389 shares of the coffee company’s stock valued at $421,000 after acquiring an additional 1,971 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its stake in Starbucks by 10.1% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 5,903 shares of the coffee company’s stock worth $567,000 after acquiring an additional 543 shares during the period. 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.