Starbucks Co. (NASDAQ:SBUX) Receives Average Recommendation of “Hold” from Brokerages

Starbucks Co. (NASDAQ:SBUX) has earned an average rating of “Hold” from the twenty-three brokerages that are currently covering the stock, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $106.68.

A number of equities research analysts have recently weighed in on SBUX shares. Jefferies Financial Group reduced their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, January 16th. Stephens restated an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Wells Fargo & Company restated an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a report on Monday, April 1st. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 7,250 shares of company stock valued at $651,738 over the last 90 days. Insiders own 1.98% of the company’s stock.

Hedge Funds Weigh In On Starbucks

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CX Institutional grew its stake in Starbucks by 298.7% during the third quarter. CX Institutional now owns 38,472 shares of the coffee company’s stock worth $3,511,000 after buying an additional 28,822 shares during the period. Secure Asset Management LLC grew its stake in Starbucks by 32.0% during the third quarter. Secure Asset Management LLC now owns 3,248 shares of the coffee company’s stock worth $296,000 after buying an additional 787 shares during the period. Stewart & Patten Co. LLC grew its stake in Starbucks by 5.1% during the third quarter. Stewart & Patten Co. LLC now owns 108,192 shares of the coffee company’s stock worth $9,875,000 after buying an additional 5,265 shares during the period. Verity & Verity LLC grew its stake in Starbucks by 1.3% during the third quarter. Verity & Verity LLC now owns 88,897 shares of the coffee company’s stock worth $8,334,000 after buying an additional 1,175 shares during the period. Finally, Roof Eidam Maycock Peralta LLC grew its stake in Starbucks by 5.6% during the third quarter. Roof Eidam Maycock Peralta LLC now owns 4,912 shares of the coffee company’s stock worth $448,000 after buying an additional 262 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Down 1.0 %

Shares of SBUX stock opened at $87.84 on Friday. Starbucks has a 52 week low of $84.29 and a 52 week high of $115.48. The stock has a market capitalization of $99.45 billion, a PE ratio of 23.49, a P/E/G ratio of 1.48 and a beta of 0.97. The firm has a 50 day moving average of $90.46 and a two-hundred day moving average of $94.30.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts expect that Starbucks will post 3.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

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.