Wedbush Boosts Starbucks (NASDAQ:SBUX) Price Target to $86.00

Starbucks (NASDAQ:SBUXGet Rating) had its price objective increased by Wedbush from $81.00 to $86.00 in a research note released on Wednesday, Marketbeat.com reports. They currently have a neutral rating on the coffee company’s stock. Wedbush also issued estimates for Starbucks’ FY2022 earnings at $2.96 EPS, Q1 2023 earnings at $0.89 EPS, Q2 2023 earnings at $0.73 EPS, Q3 2023 earnings at $0.90 EPS and Q4 2023 earnings at $0.98 EPS.

Several other equities research analysts have also recently weighed in on SBUX. Deutsche Bank Aktiengesellschaft cut their target price on Starbucks from $103.00 to $91.00 and set a buy rating for the company in a research note on Thursday, July 14th. StockNews.com downgraded shares of Starbucks from a buy rating to a hold rating in a report on Thursday, May 12th. Credit Suisse Group decreased their price objective on Starbucks from $122.00 to $103.00 in a report on Wednesday, May 4th. Cowen decreased their price objective on Starbucks from $115.00 to $94.00 in a report on Wednesday, May 4th. Finally, UBS Group decreased their price objective on Starbucks from $105.00 to $86.00 and set a neutral rating for the company in a report on Monday, April 25th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks has a consensus rating of Hold and a consensus price target of $102.92.

Starbucks Trading Down 1.3 %

Shares of SBUX stock opened at $85.73 on Wednesday. The stock has a 50 day simple moving average of $78.88 and a 200 day simple moving average of $83.14. Starbucks has a 1 year low of $68.39 and a 1 year high of $120.76. The stock has a market cap of $98.32 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.73 and a beta of 0.95.

Starbucks (NASDAQ:SBUXGet Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Analysts forecast that Starbucks will post 2.85 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.96 annualized dividend and a dividend yield of 2.29%. Starbucks’s dividend payout ratio is currently 55.21%.

Insiders Place Their Bets

In other news, CEO Howard D. Schultz bought 137,500 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were purchased at an average price of $72.67 per share, with a total value of $9,992,125.00. Following the transaction, the chief executive officer now directly owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Starbucks news, CEO Howard D. Schultz acquired 72,500 shares of Starbucks stock in a transaction that occurred on Thursday, May 12th. The stock was acquired at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the purchase, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at $1,349,939,196. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard D. Schultz acquired 137,500 shares of Starbucks stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average price of $72.67 per share, with a total value of $9,992,125.00. Following the completion of the purchase, the chief executive officer now directly owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBUX. Steward Financial Group LLC bought a new position in Starbucks in the 4th quarter valued at $25,000. PYA Waltman Capital LLC bought a new position in Starbucks in the 4th quarter valued at $25,000. Rational Advisors LLC boosted its holdings in Starbucks by 141.4% in the 4th quarter. Rational Advisors LLC now owns 210 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Guardian Wealth Management Inc. bought a new stake in shares of Starbucks during the 4th quarter worth $25,000. Finally, Bromfield Sneider Wealth Advisors bought a new stake in shares of Starbucks during the 1st quarter worth $25,000. 69.21% of the stock is owned by institutional investors.

Starbucks Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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