Starbucks’ (SBUX) “Market Perform” Rating Reiterated at Oppenheimer

Oppenheimer reissued their market perform rating on shares of Starbucks (NASDAQ:SBUX) in a report released on Friday, Benzinga reports.

A number of other equities analysts have also recently issued reports on SBUX. BTIG Research cut their target price on shares of Starbucks from $125.00 to $115.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Morgan Stanley reduced their price objective on Starbucks from $120.00 to $115.00 and set an overweight rating for the company in a research report on Friday, April 12th. Citigroup reduced their price objective on Starbucks from $102.00 to $95.00 and set a neutral rating for the company in a research report on Friday, April 12th. Stifel Nicolaus reduced their price objective on Starbucks from $102.00 to $90.00 and set a hold rating for the company in a research report on Thursday, April 11th. Finally, Wells Fargo & Company reissued an overweight rating and set a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of Hold and an average target price of $106.68.

Starbucks Price Performance

NASDAQ:SBUX opened at $87.61 on Friday. The firm has a 50-day moving average of $90.94 and a two-hundred day moving average of $94.39. The stock has a market cap of $99.19 billion, a P/E ratio of 23.43, a PEG ratio of 1.41 and a beta of 0.97. Starbucks has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the business posted $0.75 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Starbucks will post 4.03 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,250 shares of company stock valued at $653,183 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Institutional Trading of Starbucks

Several large investors have recently added to or reduced their stakes in the company. BetterWealth LLC grew its stake in Starbucks by 5.4% during the first quarter. BetterWealth LLC now owns 3,107 shares of the coffee company’s stock worth $284,000 after buying an additional 160 shares during the last quarter. Cohen Investment Advisors LLC grew its stake in Starbucks by 18.9% during the first quarter. Cohen Investment Advisors LLC now owns 23,398 shares of the coffee company’s stock worth $2,138,000 after buying an additional 3,725 shares during the last quarter. American National Bank & Trust Co. VA bought a new stake in Starbucks during the first quarter worth about $841,000. New Century Financial Group LLC grew its stake in Starbucks by 7.0% during the first quarter. New Century Financial Group LLC now owns 5,310 shares of the coffee company’s stock worth $485,000 after buying an additional 348 shares during the last quarter. Finally, Oak Harvest Investment Services grew its stake in Starbucks by 20.7% during the first quarter. Oak Harvest Investment Services now owns 45,078 shares of the coffee company’s stock worth $4,120,000 after buying an additional 7,717 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

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.