Starbucks (NASDAQ:SBUX) had its price target lifted by BMO Capital Markets to $84.00 in a research note published on Friday, The Fly reports. The firm currently has a market perform rating on the coffee company’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also issued reports about the company. Piper Jaffray Companies set a $40.00 price objective on Tapestry and gave the stock a buy rating in a research report on Monday, June 10th. Bank of America set a $275.00 price objective on SVB Financial Group and gave the stock a buy rating in a research report on Friday, April 26th. OTR Global lowered Check Point Software Technologies to a positive rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. reiterated a hold rating and issued a $137.00 price objective on shares of Continental in a research report on Friday, April 26th. Finally, Wedbush assumed coverage on Millendo Therapeutics in a research report on Thursday, July 18th. They issued an outperform rating and a $24.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $89.53.

Shares of Starbucks stock opened at $98.02 on Friday. The stock has a market capitalization of $120.04 billion, a price-to-earnings ratio of 40.50, a price-to-earnings-growth ratio of 2.73 and a beta of 0.55. Starbucks has a fifty-two week low of $51.19 and a fifty-two week high of $99.72. The stock has a 50 day simple moving average of $87.49.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. Starbucks had a negative return on equity of 154.96% and a net margin of 13.63%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. On average, equities research analysts expect that Starbucks will post 2.83 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.44 annualized dividend and a dividend yield of 1.47%. Starbucks’s dividend payout ratio is currently 59.50%.

In other news, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $84.64, for a total transaction of $844,114.72. Following the completion of the transaction, the director now directly owns 28,390 shares in the company, valued at $2,402,929.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Culver sold 63,937 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total value of $4,989,643.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,883 shares of company stock valued at $7,422,903. Company insiders own 3.98% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in shares of Starbucks by 0.5% in the second quarter. Janney Montgomery Scott LLC now owns 209,160 shares of the coffee company’s stock valued at $17,534,000 after acquiring an additional 1,046 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Starbucks by 0.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,498,034 shares of the coffee company’s stock valued at $125,580,000 after buying an additional 9,829 shares in the last quarter. First Personal Financial Services raised its stake in Starbucks by 3.0% in the second quarter. First Personal Financial Services now owns 66,795 shares of the coffee company’s stock valued at $5,599,000 after buying an additional 1,964 shares in the last quarter. Ironwood Investment Counsel LLC raised its stake in Starbucks by 2.7% in the second quarter. Ironwood Investment Counsel LLC now owns 22,217 shares of the coffee company’s stock valued at $1,862,000 after buying an additional 588 shares in the last quarter. Finally, Aft Forsyth & Company Inc. raised its stake in Starbucks by 1.5% in the second quarter. Aft Forsyth & Company Inc. now owns 11,175 shares of the coffee company’s stock valued at $937,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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