Starbucks (NASDAQ:SBUX) Price Target Raised to $99.00 at Citigroup

Starbucks (NASDAQ:SBUX) had its price target boosted by Citigroup from $96.00 to $99.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the coffee company’s stock.

Other equities analysts also recently issued reports about the stock. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Stifel Nicolaus upped their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Stock Performance

SBUX stock traded up $0.87 during trading on Thursday, hitting $98.57. 757,416 shares of the company’s stock traded hands, compared to its average volume of 11,269,808. The stock has a market capitalization of $111.70 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 2.63 and a beta of 0.97. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a fifty day simple moving average of $95.88 and a 200 day simple moving average of $85.37.

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

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 68.88%.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during the second 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 last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks during the 2nd quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

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.