Piper Jaffray Companies reaffirmed their buy rating on shares of Starbucks (NASDAQ:SBUX) in a report published on Friday, January 26th. They currently have a $70.00 price objective on the coffee company’s stock.
SBUX has been the topic of a number of other research reports. UBS Group lowered their target price on Starbucks from $67.00 to $64.00 and set a buy rating on the stock in a report on Friday, November 3rd. Mizuho set a $75.00 target price on Starbucks and gave the company a buy rating in a report on Wednesday, November 1st. Morgan Stanley increased their target price on Starbucks from $62.00 to $67.00 and gave the company an overweight rating in a report on Friday, November 10th. Vetr cut Starbucks from a strong-buy rating to a buy rating and set a $60.91 price target for the company. in a research report on Thursday, November 2nd. Finally, Oppenheimer restated a buy rating and issued a $66.00 price target on shares of Starbucks in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Starbucks has an average rating of Buy and a consensus target price of $64.63.
Shares of Starbucks (SBUX) traded up $0.81 during mid-day trading on Friday, reaching $54.58. The company had a trading volume of 18,304,362 shares, compared to its average volume of 12,250,000. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87. The stock has a market capitalization of $77,660.00, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. equities research analysts predict that Starbucks will post 2.49 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, February 7th. Starbucks’s payout ratio is presently 39.60%.
In other news, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $16,548,737.28. Following the sale, the insider now directly owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold a total of 597,668 shares of company stock valued at $34,216,388 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
Several hedge funds have recently modified their holdings of SBUX. Taylor Hoffman Wealth Management purchased a new position in Starbucks during the 4th quarter worth $107,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Starbucks during the 3rd quarter worth $111,000. Jacobi Capital Management LLC increased its holdings in Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the period. Gradient Investments LLC purchased a new position in Starbucks during the 4th quarter worth $117,000. Finally, Valley National Advisers Inc. increased its holdings in Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the period. 71.87% of the stock is owned by hedge funds and other institutional investors.
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Starbucks 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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