Starbucks (NASDAQ:SBUX) Gets a Neutral Rating from Wedbush

Wedbush maintained a neutral recommendation for the company’s shares Starbucks (NASDAQ:SBUX – Free Report) in a research note released Friday, Benzinga reports. They currently have a price target of $81.00 for the coffee company’s stock.

Several other brokerages have also recently published reports on SBUX. Oppenheimer reiterated his market rating on shares of Starbucks in a report on Friday, April 19th. Jefferies Financial Group lowered their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $100.00 to $92.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Guggenheim lowered their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the stock in a report on Friday, April 19th. Finally, BTIG Research lowered their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a “hold” rating and ten have rated the company’s stock with a “buy” rating. The stock currently has a consensus rating of “Hold” and a consensus price target of $94.54, according to MarketBeat.

Get our latest stock analysis on SBUX

Starbucks stock performance

Starbucks shares opened Friday at $77.85. The company has a market capitalization of $88.18 billion, a PE ratio of 21.45, a P/E/G ratio of 1.73 and a beta of 0.96. The company has a 50-day moving average price of $79.66 and a 200-day moving average price of $88.09. Starbucks has a fifty-two week low of $71.80 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The coffee company saw EPS of $0.68 for the quarter, ($0.11) missing the consensus estimate of $0.79. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue for the quarter was $8.56 billion, compared to analyst expectations of $9.12 billion. During the same quarter last year, the company earned $0.74 per share. The company’s revenue for this quarter decreased by 1.8% compared to the same quarter last year. On average, analysts forecast that Starbucks will post 3.59 earnings per share this year.

Starbucks announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30. Investors of record will receive a dividend of $0.57 per share on Friday, August 16. This represents a dividend of $2.28 on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, August 16. Starbucks’ (DPR) dividend payout ratio is 62.81%.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the CEO now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed via this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the CFO now directly owns 65,431 shares of the company’s stock valued at $5,234,480. The sale was disclosed in a filing with the Securities and Exchange Commission, available at this hyperlink. Additionally, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction amount of $277,517.50. Following the sale, the CEO now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The announcement of this sale can be found here. In the last quarter, insiders sold a total of 10,750 shares of company stock worth $878,893. Insiders own 1.98% of the company’s shares.

Starbucks Institutional Trading

Several hedge funds have recently increased or decreased their holdings in SBUX. CWA Asset Management Group LLC increased its holdings in Starbucks by 9.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 3,341 shares of the coffee company’s stock valued at $305,000 after purchasing an additional 300 shares during the period. Waverly Advisors LLC increased its holdings in Starbucks by 15.7% in the 3rd quarter. Waverly Advisors LLC now owns 5,343 shares of the coffee company’s stock valued at $488,000 after purchasing an additional 726 shares in the last quarter. First Business Financial Services Inc. increased its position in Starbucks by 5.7% in the third quarter. First Business Financial Services Inc. now owns 2,605 shares of the coffee company’s stock valued at $238,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. increased its stake in Starbucks by 5.4% in the third quarter. SRS Capital Advisors Inc. now owns 4,258 shares of the coffee company’s stock valued at $389,000 after purchasing an additional 219 shares in the last quarter. Finally, Insigneo Advisory Services LLC increased its position in shares of Starbucks by 60.6% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after purchasing an additional 3,570 shares during the period. 72.29% of the shares belong to hedge funds and other institutional investors.

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates in three segments: North America, International, and Channel Development. Its store offerings include coffee and tea beverages, roasted and ground coffee, single-serve products, and prepared beverages; and a variety of food products, such as pastries, breakfast sandwiches, and lunch items.

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