Starbucks (NASDAQ:SBUX) Given New $110.00 Price Target at Stifel Nicolaus

Starbucks (NASDAQ:SBUX) had its price objective hoisted by Stifel Nicolaus from $105.00 to $110.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the coffee company’s stock.

SBUX has been the subject of a number of other reports. UBS Group lifted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Bank of America cut their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

Starbucks Trading Up 1.6 %

NASDAQ:SBUX traded up $1.56 during trading hours on Thursday, hitting $99.26. 3,287,811 shares of the stock traded hands, compared to its average volume of 11,281,743. The firm has a market cap of $112.48 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 2.63 and a beta of 0.97. The firm has a 50 day moving average price of $95.88 and a 200 day moving average price of $85.37. Starbucks has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 45.15% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business earned $1.06 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts predict that Starbucks will post 3.45 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.46%. Starbucks’s dividend payout ratio is presently 68.88%.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Starbucks

A number of institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC grew its position in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is owned by 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.