Starbucks’ (SBUX) Buy Rating Reiterated at TD Cowen

TD Cowen reiterated their buy rating on shares of Starbucks (NASDAQ:SBUX) in a report released on Monday,Benzinga reports. They currently have a $110.00 price objective on the coffee company’s stock.

Several other research firms have also recently weighed in on SBUX. BMO Capital Markets boosted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.31.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $99.80 on Monday. The company has a market capitalization of $113.09 billion, a PE ratio of 30.15, a PEG ratio of 2.86 and a beta of 0.97. The business has a fifty day moving average price of $96.30 and a 200-day moving average price of $85.93. Starbucks has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.44%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Institutional Investors Weigh In On Starbucks

Several large investors have recently bought and sold shares of SBUX. Riverview Trust Co raised its position in shares of Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares in the last quarter. Essex Savings Bank increased its stake in Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after acquiring an additional 112 shares during the last quarter. DT Investment Partners LLC raised its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the period. Childress Capital Advisors LLC raised its position in Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after purchasing an additional 126 shares during the period. Finally, Keystone Wealth Services LLC boosted its holdings in shares of Starbucks by 1.3% in the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares during the period. 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.