Starbucks (NASDAQ:SBUX) Upgraded by Deutsche Bank Aktiengesellschaft to Buy

Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks (NASDAQ:SBUX) from a hold rating to a buy rating in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have $118.00 price target on the coffee company’s stock, up from their prior price target of $85.00.

A number of other analysts also recently issued reports on SBUX. Evercore ISI raised shares of Starbucks from an in-line rating to an outperform rating and increased their target price for the stock from $80.00 to $120.00 in a research report on Wednesday. Bank of America raised their price objective on Starbucks from $108.00 to $112.00 and gave the company a buy rating in a research report on Monday, June 10th. Morgan Stanley restated an overweight rating and set a $98.00 price objective on shares of Starbucks in a research note on Wednesday, July 31st. Guggenheim decreased their price target on Starbucks from $100.00 to $91.00 and set a buy rating for the company in a report on Friday, April 19th. Finally, Wells Fargo & Company reduced their target price on shares of Starbucks from $105.00 to $90.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Twelve investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of Moderate Buy and an average price target of $98.79.

Starbucks Trading Down 0.1 %

Shares of NASDAQ:SBUX traded down $0.09 on Wednesday, hitting $93.81. The company had a trading volume of 5,724,929 shares, compared to its average volume of 11,937,312. The company has a market cap of $106.31 billion, a PE ratio of 25.79, a PEG ratio of 1.80 and a beta of 0.94. The business has a 50 day moving average of $77.69 and a 200 day moving average of $83.91. Starbucks has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted 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 negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. As a group, equities analysts predict that Starbucks will post 3.55 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

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

Institutional Investors Weigh In On Starbucks

A number of large investors have recently made changes to their positions in the company. Daymark Wealth Partners LLC grew its position in Starbucks by 21.8% during the 2nd quarter. Daymark Wealth Partners LLC now owns 14,254 shares of the coffee company’s stock worth $1,110,000 after purchasing an additional 2,552 shares in the last quarter. DoubleLine ETF Adviser LP purchased a new position in shares of Starbucks during the second quarter valued at $2,361,000. Drucker Wealth 3.0 LLC acquired a new position in Starbucks during the second quarter valued at $3,479,000. Elgethun Capital Management lifted its stake in Starbucks by 4.2% in the 2nd quarter. Elgethun Capital Management now owns 44,863 shares of the coffee company’s stock worth $3,493,000 after acquiring an additional 1,789 shares in the last quarter. Finally, Alley Investment Management Company LLC grew its stake in Starbucks by 1.1% during the 2nd quarter. Alley Investment Management Company LLC now owns 144,115 shares of the coffee company’s stock valued at $11,219,000 after acquiring an additional 1,620 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

About Starbucks

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.