Shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) have earned a consensus rating of “Hold” from the twenty-nine research firms that are currently covering the stock, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $102.28.
A number of research firms recently commented on SBUX. Deutsche Bank Aktiengesellschaft lifted their target price on Starbucks from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Citigroup lifted their target price on Starbucks from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Cowen boosted their price target on Starbucks from $94.00 to $104.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Cowen boosted their price target on Starbucks from $94.00 to $104.00 in a report on Thursday, August 18th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $83.00 price target on shares of Starbucks in a report on Thursday, August 4th.
Starbucks Stock Performance
Shares of SBUX stock opened at $82.94 on Friday. Starbucks has a fifty-two week low of $68.39 and a fifty-two week high of $120.76. The firm has a market capitalization of $95.17 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 2.62 and a beta of 0.95. The stock’s 50-day simple moving average is $82.73 and its 200-day simple moving average is $81.89.
Starbucks (NASDAQ:SBUX – Get Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the prior year, the business earned $1.01 earnings per share. As a group, equities analysts forecast that Starbucks will post 2.88 earnings per share for the current year.
Starbucks Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.36%. The ex-dividend date was Thursday, August 11th. Starbucks’s payout ratio is currently 55.21%.
Hedge Funds Weigh In On Starbucks
Several large investors have recently modified their holdings of SBUX. Norges Bank acquired a new position in shares of Starbucks in the 4th quarter valued at $1,189,240,000. BlackRock Inc. lifted its stake in Starbucks by 10.3% during the 4th quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock worth $9,645,766,000 after acquiring an additional 7,672,037 shares in the last quarter. Public Investment Fund acquired a new position in Starbucks during the 2nd quarter worth about $482,273,000. Price T Rowe Associates Inc. MD lifted its stake in Starbucks by 29.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,598,025 shares of the coffee company’s stock worth $1,038,753,000 after acquiring an additional 3,133,826 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Starbucks by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 101,414,654 shares of the coffee company’s stock valued at $9,225,691,000 after purchasing an additional 2,733,608 shares in the last quarter. Institutional investors and hedge funds own 67.97% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.