Brokerages Set Starbucks Corporation (NASDAQ:SBUX) Target Price at $101.12

Shares of Starbucks Corporation (NASDAQ:SBUX) have been given a consensus recommendation of “Moderate Buy” by the twenty-nine brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $100.50.

Several equities analysts recently weighed in on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. BTIG Research reiterated a “buy” rating and set a $105.00 price target on shares of Starbucks in a research report on Thursday. UBS Group set a $94.00 price target on Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Loop Capital set a $165.00 price target on Starbucks in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target for the company. in a research report on Thursday, July 17th.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently added to or reduced their stakes in SBUX. Nuveen LLC acquired a new stake in Starbucks in the 1st quarter valued at $1,379,619,000. Norges Bank acquired a new stake in Starbucks in the 2nd quarter valued at $1,246,316,000. Jennison Associates LLC acquired a new stake in Starbucks in the 1st quarter valued at $817,759,000. Polen Capital Management LLC acquired a new stake in Starbucks in the 1st quarter valued at $503,539,000. Finally, Corient Private Wealth LLC grew its stake in Starbucks by 146.6% in the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after acquiring an additional 3,596,014 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.2%

Shares of NASDAQ:SBUX opened at $83.15 on Tuesday. Starbucks has a twelve month low of $75.50 and a twelve month high of $117.46. The company’s 50 day moving average is $84.58 and its 200 day moving average is $87.47. The company has a market cap of $94.52 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter last year, the company posted $0.80 EPS. Starbucks’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts predict that Starbucks will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is 105.17%.

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.