Starbucks (NASDAQ:SBUX) Price Target Raised to $114.00 at JPMorgan Chase & Co.

Starbucks (NASDAQ:SBUXGet Rating) had its price objective upped by JPMorgan Chase & Co. from $100.00 to $114.00 in a research note published on Wednesday morning, The Fly reports.

Several other research analysts have also recently issued reports on the stock. Guggenheim raised their target price on shares of Starbucks from $92.00 to $103.00 in a report on Friday, January 6th. Stephens assumed coverage on shares of Starbucks in a report on Thursday, September 22nd. They set an equal weight rating and a $91.00 target price for the company. Barclays raised their target price on shares of Starbucks from $105.00 to $121.00 and gave the stock an overweight rating in a report on Thursday, January 5th. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a buy rating to a hold rating and lifted their price objective for the company from $100.00 to $106.00 in a report on Monday, December 5th. Finally, Jefferies Financial Group cut shares of Starbucks from a buy rating to a hold rating and set a $100.00 price objective for the company. in a report on Wednesday, December 21st. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $102.50.

Starbucks Trading Down 1.6 %

NASDAQ:SBUX opened at $105.00 on Wednesday. Starbucks has a 12 month low of $68.39 and a 12 month high of $107.60. The firm has a fifty day simple moving average of $100.81 and a 200-day simple moving average of $91.01. The company has a market capitalization of $120.52 billion, a P/E ratio of 37.23, a PEG ratio of 2.26 and a beta of 0.89.

Starbucks (NASDAQ:SBUXGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. Starbucks had a net margin of 10.18% and a negative return on equity of 39.85%. The business had revenue of $8.41 billion during the quarter, compared to the consensus estimate of $8.43 billion. Equities analysts forecast that Starbucks will post 3.42 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Friday, February 10th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 9th. This represents a $2.12 dividend on an annualized basis and a yield of 2.02%. Starbucks’s payout ratio is presently 75.18%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,960 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $106.50, for a total transaction of $421,740.00. Following the transaction, the chief financial officer now directly owns 57,962 shares in the company, valued at $6,172,953. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, insider Michael Aaron Conway sold 15,320 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $99.14, for a total value of $1,518,824.80. Following the transaction, the insider now directly owns 68,579 shares in the company, valued at approximately $6,798,922.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,960 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $106.50, for a total transaction of $421,740.00. Following the completion of the transaction, the chief financial officer now owns 57,962 shares in the company, valued at $6,172,953. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,280 shares of company stock worth $2,663,595. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Starbucks by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 103,852,100 shares of the coffee company’s stock valued at $8,750,578,000 after purchasing an additional 1,486,459 shares during the last quarter. State Street Corp raised its stake in shares of Starbucks by 0.8% in the 3rd quarter. State Street Corp now owns 44,894,257 shares of the coffee company’s stock valued at $3,782,790,000 after acquiring an additional 361,614 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Starbucks by 29.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,598,025 shares of the coffee company’s stock valued at $1,038,753,000 after acquiring an additional 3,133,826 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Starbucks by 18.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,811,297 shares of the coffee company’s stock valued at $892,535,000 after acquiring an additional 1,531,708 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Starbucks by 19,316.8% in the 3rd quarter. Fisher Asset Management LLC now owns 9,618,502 shares of the coffee company’s stock valued at $810,455,000 after acquiring an additional 9,568,965 shares during the period. 69.16% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Company Profile

(Get Rating)

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.

Further Reading

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