Starbucks Co. (NASDAQ:SBUX) Receives Consensus Recommendation of “Hold” from Brokerages

Starbucks Co. (NASDAQ:SBUXGet Rating) has been assigned a consensus recommendation of “Hold” from the twenty-six ratings firms that are covering the stock, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $100.04.

SBUX has been the topic of several analyst reports. Wedbush raised their price target on shares of Starbucks from $92.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, November 4th. Cowen increased their price objective on shares of Starbucks from $94.00 to $104.00 in a report on Thursday, August 18th. Stephens began coverage on shares of Starbucks in a report on Thursday, September 22nd. They set an “equal weight” rating and a $91.00 price objective on the stock. StockNews.com lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Saturday, November 12th. Finally, Sanford C. Bernstein began coverage on shares of Starbucks in a report on Wednesday, September 7th. They set a “market perform” rating and a $94.00 price objective on the stock.

Starbucks Price Performance

Starbucks stock opened at $99.52 on Friday. Starbucks has a 12-month low of $68.39 and a 12-month high of $117.80. The stock has a market capitalization of $114.23 billion, a P/E ratio of 35.29, a P/E/G ratio of 2.19 and a beta of 0.87. The firm’s 50-day moving average is $89.65 and its two-hundred day moving average is $83.54.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a dividend of $0.53 per share. The ex-dividend date is Wednesday, November 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from Starbucks’s previous quarterly dividend of $0.49. Starbucks’s dividend payout ratio (DPR) is currently 75.18%.

Insider Activity

In other news, Director Mellody L. Hobson acquired 54,750 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were bought at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the completion of the purchase, the director now directly owns 433,254 shares of the company’s stock, valued at approximately $40,110,655.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Zabrina Jenkins sold 4,020 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the sale, the executive vice president now owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mellody L. Hobson purchased 54,750 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the transaction, the director now directly owns 433,254 shares of the company’s stock, valued at approximately $40,110,655.32. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.

Institutional Trading of Starbucks

Hedge funds have recently made changes to their positions in the stock. New Millennium Group LLC acquired a new position in Starbucks in the second quarter worth $25,000. Hillsdale Investment Management Inc. acquired a new position in Starbucks in the third quarter worth $27,000. Castle Wealth Management LLC acquired a new position in Starbucks in the second quarter worth $28,000. Herold Advisors Inc. acquired a new position in Starbucks in the first quarter worth $29,000. Finally, WFA of San Diego LLC acquired a new position in Starbucks in the second quarter worth $32,000. Institutional investors and hedge funds own 67.97% of the company’s stock.

About Starbucks

(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.

Further Reading

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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