In yesterday’s Wall Street session, Starbucks Corporation (NASDAQ:SBUX) shares traded at $107.09, up 1.32% from the previous session.
As of this writing, 30 analysts cover Starbucks Corporation (NASDAQ:SBUX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $131.00 and a low of $102.00, we find $117.00. Given the previous closing price of $105.69, this indicates a potential upside of 10.7 percent. SBUX stock price is now 2.21% away from the 50-day moving average and 9.41% away from the 200-day moving average. The market capitalization of the company currently stands at $122.20B.
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There are 17 analysts who have given it a hold rating, whereas 12 have given it a buy rating. Brokers who have rated the stock have averaged $116.08 as their price target over the next twelve months.
With the price target reduced from $138 to $131, BofA Securities maintained Buy rating for Starbucks Corporation (NASDAQ: SBUX). On January 24, 2023, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $120, while ‘Jefferies’ rates the stock as ‘Hold’.
In other news, Ruggeri Rachel, evp, cfo sold 736 shares of the company’s stock on Feb 21. The stock was sold for $77,648 at an average price of $105.50. Upon completion of the transaction, the evp, cfo now directly owns 56,028 shares in the company, valued at $6.0 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 13, acting evp, general counsel Jenkins Zabrina sold 2,962 shares of the business’s stock. A total of $321,317 was realized by selling the stock at an average price of $108.48. This leaves the insider owning 38,258 shares of the company worth $4.1 million. Insiders disposed of 55,320 shares of company stock worth roughly $5.92 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 OFI INVEST ASSET MANAGEMENT during the first quarter worth $815,850,000. VARENNE CAPITAL PARTNERS invested $209,467,000 in shares of SBUX during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Starbucks Corporation valued at approximately $131,650,000. POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in SBUX for approximately $110,128,000. TWO SIGMA ADVISERS, LP purchased a new stake in SBUX valued at around $86,250,000 in the second quarter. In total, there are 2,902 active investors with 72.10% ownership of the company’s stock.
Thursday morning saw Starbucks Corporation (NASDAQ: SBUX) opened at $105.42. During the past 12 months, Starbucks Corporation has had a low of $70.33 and a high of $115.48. According to the stock market information, the enterprise value for the company is $152.06B, which is based on a 34.71 price-to-earnings ratio, a 1.92 price-to-earnings-growth ratio, and a beta of 0.96. The fifty day moving average price for SBUX is $104.87 and a two-hundred day moving average price translates $97.99 for the stock.
The latest earnings results from Starbucks Corporation (NASDAQ: SBUX) was released for Apr, 2023. According to the Restaurants Company, earnings per share came in at $0.74, beating analysts’ expectations of $0.65 by 0.09. This compares to $0.59 EPS in the same period last year. The net profit margin was 10.50% and return on equity was -41.10% for SBUX. The company reported revenue of $8.72 billion for the quarter, compared to $7.64 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.2 percent. For the current quarter, analysts expect SBUX to generate $9.34B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/26/2023. Investors who held shares on 05/12/2023 were paid a $0.53 dividend. On an annualized basis, this represents a $2.12 dividend and a 1.98% percent yield. There was an ex-dividend date of 05/11/2023 for this dividend. In terms of dividend payout ratio, SBUX is presently at 65.90%.
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. Starbucks Corporation has company-operated and licensed stores in North America and internationally. The company was founded in 1971 and is based in Seattle, Washington.
