Starbucks (NASDAQ:SBUX) Reaches New 52-Week High on Analyst Upgrade


Share on StockTwits

Starbucks Co. (NASDAQ:SBUX) shares reached a new 52-week high during trading on Monday after Oppenheimer raised their price target on the stock from $122.00 to $135.00. Oppenheimer currently has an outperform rating on the stock. Starbucks traded as high as $118.93 and last traded at $118.35, with a volume of 111899 shares traded. The stock had previously closed at $118.34.

A number of other equities research analysts also recently commented on SBUX. Barclays upped their price objective on Starbucks from $122.00 to $125.00 in a report on Wednesday, January 27th. Cowen lifted their price objective on shares of Starbucks from $112.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, March 18th. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $97.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday. The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Tuesday, January 19th. They set a “buy” rating and a $115.00 price target on the stock. Finally, BMO Capital Markets raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $102.00 to $120.00 in a research note on Monday, March 1st. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $110.92.

In other Starbucks news, CEO Kevin R. Johnson sold 170,000 shares of Starbucks stock in a transaction on Monday, April 5th. The shares were sold at an average price of $111.07, for a total transaction of $18,881,900.00. Following the completion of the transaction, the chief executive officer now directly owns 515,934 shares of the company’s stock, valued at $57,304,789.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin R. Johnson sold 153,290 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $109.12, for a total transaction of $16,727,004.80. The disclosure for this sale can be found here. In the last three months, insiders sold 406,184 shares of company stock valued at $44,685,798. Insiders own 0.41% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Nottingham Advisors Inc. bought a new stake in Starbucks in the 3rd quarter valued at $215,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Starbucks during the third quarter worth $2,726,000. IHT Wealth Management LLC boosted its position in shares of Starbucks by 10.7% in the third quarter. IHT Wealth Management LLC now owns 13,840 shares of the coffee company’s stock valued at $1,189,000 after acquiring an additional 1,338 shares during the period. Kingsview Wealth Management LLC grew its stake in shares of Starbucks by 7.1% in the third quarter. Kingsview Wealth Management LLC now owns 85,657 shares of the coffee company’s stock valued at $7,360,000 after acquiring an additional 5,685 shares in the last quarter. Finally, Catalyst Private Wealth LLC bought a new stake in Starbucks in the 3rd quarter valued at about $59,000. Hedge funds and other institutional investors own 67.27% of the company’s stock.

The stock has a market capitalization of $136.88 billion, a P/E ratio of 151.00, a P/E/G ratio of 2.67 and a beta of 0.82. The business has a 50-day moving average price of $109.88 and a two-hundred day moving average price of $101.65.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Monday, January 25th. The coffee company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. Starbucks had a net margin of 3.95% and a negative return on equity of 18.07%. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period last year, the firm posted $0.79 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 2.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Thursday, May 13th will be given a $0.45 dividend. The ex-dividend date is Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. Starbucks’s dividend payout ratio (DPR) is presently 153.85%.

Starbucks Company Profile (NASDAQ:SBUX)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Read More: Why is the Consumer Price Index (CPI) important?

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.