Starbucks Corporation (SBUX) Receives $63.40 Average Target Price from Analysts
Shares of Starbucks Corporation (NASDAQ:SBUX) have earned an average recommendation of “Buy” from the thirty-four research firms that are currently covering the company, MarketBeat.com reports. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $63.40.
Several brokerages recently issued reports on SBUX. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. BTIG Research reissued a “buy” rating and issued a $64.00 target price on shares of Starbucks Corporation in a research note on Sunday, July 30th. Instinet reaffirmed a “buy” rating and set a $67.00 price target (down from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. Stephens reissued an “equal weight” rating and set a $52.00 price objective (down from $58.00) on shares of Starbucks Corporation in a report on Friday, September 29th. They noted that the move was a valuation call. Finally, Cowen and Company reissued an “outperform” rating and set a $63.00 price objective (down from $66.00) on shares of Starbucks Corporation in a report on Sunday, July 30th.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now directly owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Insiders have sold a total of 443,884 shares of company stock worth $25,041,780 over the last ninety days. 3.40% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Starbucks Corporation by 12.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after purchasing an additional 10,250 shares during the last quarter. Geneva Advisors LLC grew its stake in shares of Starbucks Corporation by 2.3% in the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock worth $160,390,000 after acquiring an additional 63,041 shares in the last quarter. Private Vista LLC grew its stake in shares of Starbucks Corporation by 3,334.9% in the second quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock worth $160,000 after acquiring an additional 213,303 shares in the last quarter. Welch Group LLC acquired a new position in shares of Starbucks Corporation during the second quarter worth $406,000. Finally, TrimTabs Asset Management LLC grew its stake in shares of Starbucks Corporation by 104.9% during the second quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock worth $250,000 after purchasing an additional 2,199 shares in the last quarter. Hedge funds and other institutional investors own 71.49% of the company’s stock.
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Starbucks Corporation (NASDAQ:SBUX) traded down $0.12 during trading on Friday, hitting $57.14. 7,310,000 shares of the stock traded hands, compared to its average volume of 9,760,000. The stock has a market cap of $81,300.00, a PE ratio of 27.44, a P/E/G ratio of 1.55 and a beta of 0.72. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the business posted $0.56 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. sell-side analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be given a dividend of $0.30 per share. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 60.91%.
Starbucks Corporation Company Profile
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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