In yesterday’s Wall Street session, Starbucks Corporation (NASDAQ:SBUX) shares traded at $99.52, up 1.11% from the previous session.
34 analysts cover Starbucks Corporation (NASDAQ:SBUX), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $118.90 and a low of $87.00, we find $98.00. Given the previous closing price of $98.43, this indicates a potential downside of -0.44 percent. SBUX stock price is now 11.18% away from the 50-day moving average and 18.10% away from the 200-day moving average. The market capitalization of the company currently stands at $113.10B.
The stock has received a hold rating from 17 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $99.00 as their price target over the next twelve months.
With the price target of $91, Stephens recently initiated with Equal-Weight rating for Starbucks Corporation (NASDAQ: SBUX). On September 08, 2022, Bernstein recently initiated its ‘Mkt Perform’ rating on the stock quoting a target price of $94, while ‘Deutsche Bank’ rates the stock as ‘Buy’.
In other news, ALLISON RICHARD E JR, Director bought 10,000 shares of the company’s stock on Sep 15. The stock was bought for $925,320 at an average price of $92.53. Upon completion of the transaction, the Director now directly owns 23,658 shares in the company, valued at $2.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, Director HOBSON MELLODY L bought 54,750 shares of the business’s stock. A total of $5,068,536 was incurred on buying the stock at an average price of $92.58. This leaves the insider owning 433,254 shares of the company worth $43.12 million. Insiders disposed of 264,144 shares of company stock worth roughly $26.29 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SBUX stock. A new stake in Starbucks Corporation shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $604,308,000. SUSTAINABLE GROWTH ADVISERS, LP invested $269,102,000 in shares of SBUX during the first quarter. In the first quarter, LORD, ABBETT & CO. LLC acquired a new stake in Starbucks Corporation valued at approximately $120,356,000. HOLOCENE ADVISORS, LP acquired a new stake in SBUX for approximately $74,046,000. FARMER STEVEN PATRICK purchased a new stake in SBUX valued at around $73,718,000 in the second quarter. In total, there are 2,724 active investors with 72.00% ownership of the company’s stock.
On Wednesday morning Starbucks Corporation (NASDAQ: SBUX) stock kicked off with the opening price of $98.49. During the past 12 months, Starbucks Corporation has had a low of $68.39 and a high of $117.80. The fifty day moving average price for SBUX is $89.65 and a two-hundred day moving average price translates $84.29 for the stock.
The latest earnings results from Starbucks Corporation (NASDAQ: SBUX) was released for Jul, 2022. According to the Restaurants Company, earnings per share came in at $0.84, beating analysts’ expectations of $0.75 by 0.09. This compares to $1.49 EPS in the same period last year. The net profit margin was 13.70% and return on equity was -56.50% for SBUX. The company reported revenue of $8.41 billion for the quarter, compared to $8.15 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.28 percent. For the current quarter, analysts expect SBUX to generate $8.31B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/25/2022. Investors who held shares on 11/11/2022 were paid a $0.53 dividend. On an annualized basis, this represents a $2.12 dividend and a 2.13% percent yield. There was an ex-dividend date of 11/09/2022 for this dividend.
Starbucks Corporation(SBUX) Company Profile
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. The company also licenses its trademarks through licensed stores, and grocery and foodservice accounts. The company offers its products under the Starbucks, Teavana, Seattle’s Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve, and Princi brands. As of October 3, 2021, it operated 16,826 company-operated and licensed stores in North America; and 17,007 company-operated and licensed stores internationally. The company was founded in 1971 and is based in Seattle, Washington.