Wedbush Boosts Starbucks (NASDAQ:SBUX) Price Target to $80.00

Starbucks (NASDAQ:SBUX) had its price target lifted by Wedbush from $77.00 to $80.00 in a report published on Wednesday, Benzinga reports. Wedbush currently has a neutral rating on the coffee company’s stock. Wedbush also issued estimates for Starbucks’ Q4 2024 earnings at $1.04 EPS and Q4 2025 earnings at $1.14 EPS.

Other equities research analysts have also recently issued reports about the stock. Bank of America lifted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a buy rating in a research report on Monday, June 10th. Piper Sandler decreased their price objective on shares of Starbucks from $88.00 to $85.00 and set a neutral rating for the company in a research report on Monday, May 6th. HSBC decreased their price objective on shares of Starbucks from $107.00 to $84.00 and set a hold rating for the company in a research report on Friday, May 3rd. Evercore ISI cut shares of Starbucks from an outperform rating to an inline rating and reduced their price target for the company from $92.00 to $80.00 in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group reduced their price target on shares of Starbucks from $94.00 to $84.00 and set a hold rating for the company in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $90.88.

Starbucks Stock Up 1.0 %

Shares of SBUX stock opened at $75.88 on Wednesday. Starbucks has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market capitalization of $85.99 billion, a PE ratio of 20.90, a P/E/G ratio of 1.74 and a beta of 0.94. The firm has a 50 day moving average of $77.62 and a two-hundred day moving average of $84.61.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during 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 firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. Analysts expect that Starbucks will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The company 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 dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.00%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock worth $579,375 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

Institutional Trading of Starbucks

Several institutional investors and hedge funds have recently modified their holdings of SBUX. Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter valued at about $1,240,652,000. Ontario Teachers Pension Plan Board bought a new position in Starbucks during the 1st quarter valued at $415,167,000. Flossbach Von Storch AG boosted its stake in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Capital World Investors bought a new position in shares of Starbucks in the 1st quarter worth about $257,721,000. Finally, Van ECK Associates Corp lifted its position in shares of Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Hedge funds and other 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.