Starbucks Corporation (SBUX) Given Neutral Rating at Bank of America Corporation
Bank of America Corporation reaffirmed their neutral rating on shares of Starbucks Corporation (NASDAQ:SBUX) in a research report released on Thursday. Bank of America Corporation currently has a $65.00 price objective on the coffee company’s stock.
A number of other equities analysts have also weighed in on SBUX. Vetr lowered Starbucks Corporation from a buy rating to a hold rating and set a $65.15 target price for the company. in a research report on Thursday, May 25th. Mizuho started coverage on Starbucks Corporation in a research report on Thursday, June 8th. They issued a buy rating and a $75.00 target price for the company. Sanford C. Bernstein reissued a buy rating and issued a $67.00 target price on shares of Starbucks Corporation in a research report on Monday, June 12th. Royal Bank Of Canada reissued an outperform rating and issued a $66.00 target price on shares of Starbucks Corporation in a research report on Tuesday, June 13th. Finally, Wedbush lowered Starbucks Corporation from an outperform rating to a neutral rating and boosted their target price for the stock from $61.00 to $65.00 in a research report on Wednesday, June 14th. They noted that the move was a valuation call. Thirteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $64.64.
Starbucks Corporation (NASDAQ:SBUX) traded up 0.26% during mid-day trading on Thursday, reaching $54.67. 6,586,759 shares of the company were exchanged. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a 50-day moving average price of $54.29 and a 200 day moving average price of $57.88. The company has a market capitalization of $78.94 billion, a PE ratio of 27.60 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. Starbucks Corporation’s revenue was up 8.1% on a year-over-year basis. Analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
In other news, insider John Culver sold 64,776 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction dated Friday, August 4th. The shares were purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Jacobi Capital Management LLC lifted its position in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC lifted its position in Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after buying an additional 46 shares during the last quarter. Sharkey Howes & Javer lifted its position in Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC lifted its position in Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in Starbucks Corporation in the first quarter worth $122,000. Institutional investors own 70.99% of the company’s stock.
About Starbucks Corporation
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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