Starbucks (NASDAQ:SBUX) PT Raised to $95.00 at Morgan Stanley

Starbucks (NASDAQ:SBUX) had its price target boosted by Morgan Stanley from $88.00 to $95.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the coffee company’s stock.

Several other brokerages also recently weighed in on SBUX. Cowen set a $93.00 target price on Starbucks and gave the stock a hold rating in a research report on Monday, September 23rd. BidaskClub upgraded Starbucks from a sell rating to a hold rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised Starbucks from a neutral rating to an overweight rating and boosted their price target for the stock from $90.00 to $94.00 in a research report on Thursday, December 12th. ValuEngine lowered Starbucks from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Finally, BTIG Research restated a hold rating on shares of Starbucks in a report on Wednesday, September 4th. Eighteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $91.51.

Shares of SBUX stock opened at $88.46 on Thursday. The company’s fifty day simple moving average is $84.87 and its 200-day simple moving average is $88.22. Starbucks has a 52 week low of $60.42 and a 52 week high of $99.72. The company has a market cap of $104.54 billion, a PE ratio of 31.26, a P/E/G ratio of 2.23 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same period in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that Starbucks will post 3.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.85%. This is an increase from Starbucks’s previous quarterly dividend of $0.36. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.

In other news, CAO Jill Walker sold 2,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $86.47, for a total transaction of $172,940.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $84.79, for a total transaction of $845,610.67. Following the transaction, the director now directly owns 28,407 shares in the company, valued at approximately $2,408,629.53. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,928 shares of company stock valued at $3,582,175. Insiders own 3.98% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of Starbucks by 18.4% during the 2nd quarter. Invesco Ltd. now owns 17,382,380 shares of the coffee company’s stock valued at $1,457,167,000 after acquiring an additional 2,706,533 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Starbucks by 977.6% during the second quarter. Nuveen Asset Management LLC now owns 7,923,411 shares of the coffee company’s stock valued at $664,219,000 after purchasing an additional 7,188,139 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Starbucks by 8.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,810,825 shares of the coffee company’s stock worth $487,122,000 after purchasing an additional 462,682 shares during the period. APG Asset Management N.V. raised its holdings in shares of Starbucks by 87.0% during the second quarter. APG Asset Management N.V. now owns 5,538,794 shares of the coffee company’s stock worth $407,725,000 after purchasing an additional 2,576,900 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Starbucks by 1.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,634,647 shares of the coffee company’s stock worth $388,522,000 after buying an additional 68,949 shares during the last quarter. Hedge funds and other institutional investors own 69.94% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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