Starbucks (NASDAQ:SBUX) Price Target Raised to $105.00 at UBS Group

Starbucks (NASDAQ:SBUX) had its target price hoisted by UBS Group from $98.00 to $105.00 in a research note released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the coffee company’s stock.

Several other brokerages have also issued reports on SBUX. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley increased their price target on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wedbush boosted their price objective on shares of Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays increased their target price on shares of Starbucks from $119.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.52.

Starbucks Trading Up 8.1 %

SBUX stock opened at $108.58 on Wednesday. The company’s 50 day moving average is $95.70 and its 200 day moving average is $92.89. The stock has a market cap of $123.11 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 2.91 and a beta of 0.99. Starbucks has a 1-year low of $71.55 and a 1-year high of $110.08.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. During the same period last year, the business posted $0.90 EPS. As a group, sell-side analysts forecast that Starbucks will post 3.08 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.25%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

A number of hedge funds have recently modified their holdings of the business. State Street Corp lifted its position in Starbucks by 1.0% during the 3rd quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after acquiring an additional 437,218 shares during the period. Geode Capital Management LLC increased its stake in shares of Starbucks by 1.4% during the third quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock valued at $2,358,464,000 after purchasing an additional 333,004 shares in the last quarter. FMR LLC lifted its holdings in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after buying an additional 327,734 shares during the last quarter. Institutional investors 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.