Brokerages Set Starbucks Corporation (NASDAQ:SBUX) Target Price at $98.58

Starbucks Corporation (NASDAQ:SBUX - Get Free Report) has been assigned a consensus rating of "Hold" from the twenty-nine research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $98.58.

SBUX has been the subject of a number of recent analyst reports. TD Securities reissued a "hold" rating and set a $90.00 target price on shares of Starbucks in a research report on Monday, June 23rd. Sanford C. Bernstein upped their price objective on shares of Starbucks from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Guggenheim dropped their price objective on Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group reaffirmed a "neutral" rating on shares of Starbucks in a research note on Monday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tectonic Advisors LLC grew its holdings in shares of Starbucks by 19.9% during the 2nd quarter. Tectonic Advisors LLC now owns 16,697 shares of the coffee company's stock worth $1,530,000 after purchasing an additional 2,767 shares in the last quarter. Cohen Investment Advisors LLC raised its position in shares of Starbucks by 8.1% during the second quarter. Cohen Investment Advisors LLC now owns 29,464 shares of the coffee company's stock worth $2,700,000 after acquiring an additional 2,205 shares during the last quarter. Trifecta Capital Advisors LLC raised its position in shares of Starbucks by 1.3% during the second quarter. Trifecta Capital Advisors LLC now owns 29,981 shares of the coffee company's stock worth $2,747,000 after acquiring an additional 396 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of Starbucks by 4.3% during the second quarter. Maryland State Retirement & Pension System now owns 55,283 shares of the coffee company's stock worth $5,066,000 after acquiring an additional 2,298 shares during the last quarter. Finally, Narwhal Capital Management grew its stake in shares of Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company's stock worth $3,000,000 after purchasing an additional 9,282 shares during the period. Institutional investors own 72.29% of the company's stock.

Starbucks Price Performance

Starbucks stock traded down $1.02 during trading hours on Friday, hitting $95.92. The company had a trading volume of 11,271,158 shares, compared to its average volume of 10,633,816. The firm has a market capitalization of $109.00 billion, a P/E ratio of 34.75, a price-to-earnings-growth ratio of 6.69 and a beta of 1.02. Starbucks has a fifty-two week low of $72.73 and a fifty-two week high of $117.46. The firm's fifty day moving average is $90.74 and its 200-day moving average is $94.62.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 42.14% and a net margin of 8.61%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. Analysts anticipate that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.54%. Starbucks's payout ratio is currently 88.41%.

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.