Starbucks Co. (SBUX) Stock Rating Reaffirmed by Jefferies Group LLC

Jefferies Group LLC reaffirmed their buy rating on shares of Starbucks Co. (NASDAQ:SBUX) in a report published on Friday. They currently have a $65.00 price objective on the coffee company’s stock.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Starbucks from a hold rating to a buy rating and set a $65.00 price target on the stock in a report on Monday, January 16th. Vetr raised shares of Starbucks from a buy rating to a strong-buy rating and set a $64.53 price target on the stock in a report on Monday, March 6th. Wells Fargo & Co reaffirmed an outperform rating and set a $65.00 price target on shares of Starbucks in a report on Monday, March 20th. Royal Bank of Canada reaffirmed an outperform rating and set a $66.00 price target on shares of Starbucks in a report on Monday, March 13th. Finally, OTR Global raised shares of Starbucks to a positive rating in a report on Wednesday, January 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. Starbucks currently has a consensus rating of Buy and a consensus target price of $64.67.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

Starbucks (NASDAQ:SBUX) opened at 59.675 on Friday. The company’s 50-day moving average is $59.52 and its 200 day moving average is $57.23. Starbucks has a 12-month low of $50.84 and a 12-month high of $61.94. The stock has a market capitalization of $86.42 billion, a PE ratio of 29.513 and a beta of 0.79.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.42 billion. Starbucks had a net margin of 13.30% and a return on equity of 51.45%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. On average, equities research analysts expect that Starbucks will post $2.11 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. Starbucks’s dividend payout ratio is presently 51.28%.

In other Starbucks news, Director Myron E. Ullman III sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $60.43, for a total value of $1,208,600.00. Following the completion of the transaction, the director now directly owns 34,000 shares in the company, valued at $2,054,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Starbucks during the fourth quarter worth approximately $16,059,000. Gradient Investments LLC increased its position in Starbucks by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock valued at $109,000 after buying an additional 718 shares during the period. IHT Wealth Management LLC increased its position in Starbucks by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the period. Valley National Advisers Inc. increased its position in Starbucks by 0.3% in the first quarter. Valley National Advisers Inc. now owns 2,032 shares of the coffee company’s stock valued at $119,000 after buying an additional 7 shares during the period. Finally, TrimTabs Asset Management LLC bought a new position in Starbucks during the first quarter valued at about $122,000. Institutional investors and hedge funds own 68.49% of the company’s stock.

About Starbucks

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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