Analysts’ Weekly Ratings Changes for Starbucks (SBUX)

A number of firms have modified their ratings and price targets on shares of Starbucks (NASDAQ: SBUX) recently:

• 10/23/2024 – Starbucks had its price target raised by analysts at UBS Group AG from $85.00 to $95.00. They now have a “neutral” rating on the stock.
• 10/23/2024 – Starbucks had its price target lowered by analysts at Citigroup Inc. from $99.00 to $96.00. They now have a “neutral” rating on the stock.
• 10/23/2024 – Starbucks had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $110.00 price target on the stock.
• 10/23/2024 – Starbucks had its price target lowered by analysts at Stifel Nicolaus from $110.00 to $105.00. They now have a “buy” rating on the stock.
• 10/22/2024 – Starbucks had its price target lowered by analysts at Bank of America Co. from $118.00 to $117.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Starbucks had its price target raised by analysts at BTIG Research from $100.00 to $115.00. They now have a “buy” rating on the stock.
• 10/16/2024 – Starbucks had its price target raised by analysts at Morgan Stanley from $98.00 to $115.00. They now have an “overweight” rating on the stock.
• 10/8/2024 – Starbucks had its price target raised by analysts at Citigroup Inc. from $98.00 to $99.00. They now have a “neutral” rating on the stock.
• 9/30/2024 – Starbucks had its price target raised by analysts at JPMorgan Chase & Co. from $90.00 to $105.00. They now have an “overweight” rating on the stock.
• 9/26/2024 – Starbucks was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $115.00 price target on the stock, up previously from $92.00.
• 9/24/2024 – Starbucks was downgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to an “underperform” rating. They now have a $76.00 price target on the stock, down previously from $80.00.
• 9/18/2024 – Starbucks had its price target raised by analysts at Bank of America Co. from $112.00 to $118.00. They now have a “buy” rating on the stock.
• 9/12/2024 – Starbucks had its “buy” rating reaffirmed by analysts at TD Cowen. They now have a $110.00 price target on the stock.
• 9/9/2024 – Starbucks had its price target raised by analysts at BMO Capital Markets from $100.00 to $110.00. They now have an “outperform” rating on the stock.
• 9/4/2024 – Starbucks had its price target raised by analysts at TD Cowen from $105.00 to $110.00. They now have a “buy” rating on the stock.
• 8/26/2024 – Starbucks had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..

Starbucks Trading Up 0.2 %

Shares of NASDAQ SBUX traded up $0.16 during midday trading on Friday, reaching $97.31. The company’s stock had a trading volume of 9,664,443 shares, compared to its average volume of 11,366,117. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock has a 50 day simple moving average of $95.43 and a 200-day simple moving average of $84.98. The stock has a market capitalization of $110.27 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is presently 63.87%.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Starbucks

A number of institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC lifted its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks during the second quarter worth about $27,000. Finally, MFA Wealth Advisors LLC bought a new position in Starbucks in the 2nd quarter valued at about $31,000. Institutional investors own 72.29% of the company’s stock.

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.