Starbucks (NASDAQ:SBUX – Free Report) had its price target increased by Wedbush from $100.00 to $106.00 in a report issued on Monday, Benzinga reports. The firm currently has a neutral rating on the coffee company’s stock. Wedbush also issued estimates for Starbucks’ Q1 2024 earnings at $0.98 EPS, Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $1.09 EPS, Q4 2024 earnings at $1.15 EPS, FY2024 earnings at $4.14 EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $1.28 EPS, Q4 2025 earnings at $1.33 EPS and FY2025 earnings at $4.84 EPS.
Other analysts have also recently issued reports about the stock. Stephens reiterated an equal weight rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, August 2nd. Wells Fargo & Company lowered their target price on shares of Starbucks from $125.00 to $120.00 and set an overweight rating on the stock in a research note on Wednesday, July 19th. Bank of America increased their target price on shares of Starbucks from $131.00 to $150.00 and gave the stock a buy rating in a research note on Friday, July 21st. StockNews.com raised shares of Starbucks from a hold rating to a buy rating in a report on Friday, November 3rd. Finally, Morgan Stanley decreased their price target on shares of Starbucks from $104.00 to $102.00 and set an equal weight rating on the stock in a report on Wednesday, October 11th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $114.52.
View Our Latest Report on SBUX
Starbucks Trading Down 1.4 %
Shares of SBUX stock opened at $102.23 on Monday. The stock has a market capitalization of $117.09 billion, a P/E ratio of 31.17, a PEG ratio of 1.52 and a beta of 0.98. The firm’s 50 day moving average is $94.85 and its 200 day moving average is $99.15. Starbucks has a 12 month low of $89.21 and a 12 month high of $115.48.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.09. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.29 billion. During the same period in the prior year, the company posted $0.81 EPS. Starbucks’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Starbucks will post 4.15 EPS for the current year.
Starbucks Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.23%. This is a boost from Starbucks’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, November 9th. Starbucks’s dividend payout ratio (DPR) is currently 69.51%.
Institutional Investors Weigh In On Starbucks
Several institutional investors and hedge funds have recently modified their holdings of SBUX. BCK Partners Inc. purchased a new position in Starbucks during the 1st quarter valued at about $2,640,000. American Century Companies Inc. lifted its position in Starbucks by 7.3% during the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after acquiring an additional 1,872 shares during the period. Roundview Capital LLC lifted its position in Starbucks by 37.5% during the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after acquiring an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Starbucks during the 1st quarter valued at about $198,000. Finally, Mather Group LLC. lifted its position in Starbucks by 77.5% during the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after acquiring an additional 3,017 shares during the period. 70.13% of the stock is 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 specialty 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.
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