Starbucks (NASDAQ:SBUX) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a buy rating in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $118.00 target price on the coffee company’s stock, up from their previous target price of $85.00.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets decreased their price target on Starbucks from $120.00 to $100.00 and set an outperform rating on the stock in a research note on Monday, July 22nd. The Goldman Sachs Group assumed coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a buy rating and a $100.00 target price on the stock. Jefferies Financial Group decreased their price objective on shares of Starbucks from $84.00 to $80.00 and set a hold rating on the stock in a research report on Wednesday, July 31st. TD Cowen upgraded Starbucks from a hold rating to a buy rating and increased their price objective for the stock from $81.00 to $105.00 in a report on Tuesday. Finally, Guggenheim cut their price objective on Starbucks from $100.00 to $91.00 and set a buy rating on the stock in a research report on Friday, April 19th. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $98.79.

Starbucks Stock Performance

SBUX traded down $0.09 during trading on Wednesday, reaching $93.81. The stock had a trading volume of 5,724,929 shares, compared to its average volume of 11,937,312. The stock has a market cap of $106.31 billion, a PE ratio of 25.79, a PEG ratio of 1.80 and a beta of 0.94. Starbucks has a one year low of $71.55 and a one year high of $107.66. The business has a 50-day moving average of $77.69 and a 200-day moving average of $83.91.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.00 earnings per share. Equities research analysts forecast that Starbucks will post 3.55 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold 7,250 shares of company stock valued at $579,375 in the last 90 days. Insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several institutional investors have recently made changes to their positions in SBUX. Vima LLC purchased a new position in shares of Starbucks during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the 4th quarter valued at $26,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter valued at $26,000. Stephens Consulting LLC increased its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Finally, DSM Capital Partners LLC bought a new stake in shares of Starbucks during the fourth quarter worth $27,000. Institutional investors own 72.29% of the company’s stock.

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.