Starbucks (NASDAQ:SBUX) Stock Price Up 0.1% Following Analyst Upgrade

Starbucks Co. (NASDAQ:SBUX)’s stock price traded up 0.1% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $105.00 to $110.00. TD Cowen currently has a buy rating on the stock. Starbucks traded as high as $92.99 and last traded at $92.44. 1,558,150 shares traded hands during trading, a decline of 87% from the average session volume of 11,942,962 shares. The stock had previously closed at $92.33.

SBUX has been the topic of several other research reports. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Barclays upped their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Citigroup lifted their price target on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.42.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value 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 approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 in the last 90 days. 1.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Starbucks

Hedge funds have recently modified their holdings of the stock. Graybill Wealth Management LTD. grew its position in Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after purchasing an additional 109 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after buying an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its position in shares of Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the period. Bedel Financial Consulting Inc. lifted its position in Starbucks by 2.1% during the 4th quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock worth $617,000 after acquiring an additional 132 shares during the period. Finally, Carolinas Wealth Consulting LLC lifted its position in Starbucks by 4.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

The firm has a market capitalization of $104.75 billion, a price-to-earnings ratio of 25.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The business has a fifty day moving average price of $81.90 and a two-hundred day moving average price of $83.90.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.