Brokerages Set Starbucks Co. (NASDAQ:SBUX) PT at $89.85

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Starbucks Co. (NASDAQ:SBUX) has earned an average rating of “Hold” from the thirty-one brokerages that are covering the firm, Marketbeat reports. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $89.85.

Several equities analysts have issued reports on SBUX shares. Barclays boosted their price objective on shares of Starbucks from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of Starbucks to $84.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of Starbucks from $86.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, July 26th. KeyCorp boosted their price objective on shares of Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, ValuEngine cut shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

In other Starbucks news, Director Javier G. Teruel sold 59,838 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.92, for a total transaction of $5,799,498.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $96.42, for a total transaction of $961,596.66. The disclosure for this sale can be found here. Insiders have sold a total of 112,885 shares of company stock worth $10,707,543 over the last 90 days. Insiders own 3.98% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SBUX. Enterprise Trust & Investment Co purchased a new stake in shares of Starbucks in the 2nd quarter worth about $25,000. 1 North Wealth Services LLC purchased a new stake in shares of Starbucks in the 3rd quarter worth about $30,000. Northern Oak Wealth Management Inc. boosted its position in shares of Starbucks by 95.7% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after buying an additional 177 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Starbucks in the 2nd quarter worth about $32,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Starbucks by 246.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 402 shares of the coffee company’s stock worth $36,000 after buying an additional 286 shares in the last quarter. Institutional investors own 70.15% of the company’s stock.

Starbucks stock traded down $0.17 during trading on Thursday, reaching $84.21. The stock had a trading volume of 7,472,900 shares, compared to its average volume of 7,068,125. The business has a 50 day moving average price of $84.87 and a 200 day moving average price of $86.76. The stock has a market cap of $101.00 billion, a PE ratio of 29.76, a P/E/G ratio of 2.09 and a beta of 0.53. Starbucks has a 52-week low of $60.42 and a 52-week high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. As a group, sell-side analysts expect that Starbucks will post 3.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.41 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, November 12th. Starbucks’s payout ratio is presently 57.95%.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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