Starbucks (NASDAQ:SBUX) Given New $100.00 Price Target at Wells Fargo & Company

Starbucks (NASDAQ:SBUX) had its price target cut by Wells Fargo & Company from $125.00 to $100.00 in a report released on Tuesday, MarketBeat.com reports. They currently have an overweight rating on the coffee company’s stock.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $115.00 price target on shares of Starbucks in a research report on Friday, January 24th. Barclays raised their target price on Starbucks from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Wedbush boosted their price target on shares of Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus decreased their target price on shares of Starbucks from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.00.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $81.75 on Tuesday. The business’s 50 day moving average price is $97.97 and its 200-day moving average price is $98.06. Starbucks has a 1 year low of $71.55 and a 1 year high of $117.46. The firm has a market capitalization of $92.86 billion, a PE ratio of 26.37, a P/E/G ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the business earned $0.90 earnings per share. As a group, analysts expect that Starbucks will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s dividend payout ratio is currently 78.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. TrinityPoint Wealth LLC boosted its stake in shares of Starbucks by 2.7% in the 4th quarter. TrinityPoint Wealth LLC now owns 3,421 shares of the coffee company’s stock valued at $312,000 after buying an additional 89 shares during the period. Pioneer Trust Bank N A OR lifted its stake in Starbucks by 0.8% in the fourth quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock worth $1,032,000 after acquiring an additional 92 shares during the last quarter. Wintrust Investments LLC grew its holdings in Starbucks by 7.1% during the 4th quarter. Wintrust Investments LLC now owns 1,411 shares of the coffee company’s stock worth $128,000 after acquiring an additional 94 shares in the last quarter. Kuhn & Co Investment Counsel increased its position in shares of Starbucks by 2.3% in the 4th quarter. Kuhn & Co Investment Counsel now owns 4,240 shares of the coffee company’s stock valued at $387,000 after purchasing an additional 96 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC raised its holdings in shares of Starbucks by 10.6% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 1,014 shares of the coffee company’s stock valued at $93,000 after purchasing an additional 97 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

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.