Starbucks’ (SBUX) Neutral Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of Starbucks (NASDAQ:SBUX) in a report issued on Friday, Benzinga reports. They currently have a $81.00 price target on the coffee company’s stock.

Other equities analysts also recently issued research reports about the company. Robert W. Baird lowered their price target on Starbucks from $106.00 to $100.00 and set a neutral rating on the stock in a research report on Monday, March 18th. JPMorgan Chase & Co. dropped their price target on shares of Starbucks from $100.00 to $92.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Stifel Nicolaus reduced their price objective on shares of Starbucks from $90.00 to $80.00 and set a hold rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a buy rating to a hold rating and dropped their target price for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. Finally, Evercore ISI reduced their price target on shares of Starbucks from $120.00 to $92.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $94.54.

Starbucks Price Performance

NASDAQ:SBUX opened at $77.13 on Friday. The company has a 50 day moving average price of $79.66 and a 200-day moving average price of $87.95. Starbucks has a 1-year low of $71.80 and a 1-year high of $107.66. The firm has a market cap of $87.37 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the previous year, the firm posted $0.74 EPS. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by company insiders.

Institutional Trading of Starbucks

A number of institutional investors and hedge funds have recently bought and sold shares of SBUX. Vima LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $27,000. Riggs Asset Managment Co. Inc. boosted its holdings in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Fairman Group LLC acquired a new position in Starbucks during the 4th quarter worth $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

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.