Starbucks Corporation (SBUX) Raised to Strong-Buy at Vetr Inc.
Vetr upgraded shares of Starbucks Corporation (NASDAQ:SBUX) from a buy rating to a strong-buy rating in a research note published on Tuesday morning. The brokerage currently has $64.05 price objective on the coffee company’s stock.
A number of other analysts also recently issued reports on SBUX. UBS AG set a $64.00 price target on shares of Starbucks Corporation and gave the stock a buy rating in a report on Wednesday, November 15th. BMO Capital Markets downgraded shares of Starbucks Corporation from an outperform rating to a market perform rating and increased their price target for the stock from $54.52 to $64.00 in a report on Wednesday, August 9th. Wedbush reissued a hold rating on shares of Starbucks Corporation in a report on Friday, July 28th. BidaskClub raised shares of Starbucks Corporation from a sell rating to a hold rating in a report on Tuesday, August 1st. Finally, Robert W. Baird lowered their price target on shares of Starbucks Corporation from $70.00 to $66.00 and set an outperform rating on the stock in a report on Friday, November 3rd. Twelve investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $63.31.
Starbucks Corporation (NASDAQ SBUX) traded down $0.39 during mid-day trading on Tuesday, hitting $56.75. 558,270 shares of the stock traded hands, compared to its average volume of 9,348,807. The stock has a market cap of $81,298.80, a P/E ratio of 27.60, a P/E/G ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. equities analysts forecast that Starbucks Corporation will post 2.31 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date is Wednesday, November 15th. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. Starbucks Corporation’s dividend payout ratio is currently 60.91%.
In other news, SVP Paul Mutty sold 3,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares in the company, valued at $594,444.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Culver sold 64,776 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. Insiders have sold 525,550 shares of company stock valued at $29,688,442 over the last 90 days. 3.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Starbucks Corporation by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. State Street Corp increased its position in Starbucks Corporation by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after purchasing an additional 1,598,669 shares during the last quarter. Capital World Investors increased its position in Starbucks Corporation by 2.0% during the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after purchasing an additional 895,432 shares during the last quarter. Northern Trust Corp increased its position in Starbucks Corporation by 5.2% during the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after purchasing an additional 1,060,298 shares during the last quarter. Finally, Capital International Investors increased its position in Starbucks Corporation by 28.3% during the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after purchasing an additional 4,696,452 shares during the last quarter. Institutional investors and hedge funds own 71.49% 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.
To view Vetr’s full report, visit Vetr’s official website.
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