Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a report released on Friday, May 12th. They presently have a $65.00 target price on the coffee company’s stock. Jefferies Group LLC’s target price points to a potential upside of 8.08% from the stock’s previous close.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Monday, January 16th. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.53 price objective for the company in a research note on Monday, March 6th. Wells Fargo & Company reiterated an “outperform” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research note on Monday, March 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a research note on Monday, March 13th. Finally, Credit Suisse Group boosted their price target on Starbucks Corporation from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of “Buy” and an average target price of $65.15.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 0.08% during mid-day trading on Friday, hitting $60.14. 11,522,438 shares of the company were exchanged. The firm has a 50 day moving average of $61.48 and a 200 day moving average of $58.34. The company has a market capitalization of $87.09 billion, a price-to-earnings ratio of 29.74 and a beta of 0.76. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. Starbucks Corporation had a return on equity of 51.65% and a net margin of 13.47%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period last year, the company earned $0.39 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Starbucks Corporation will post $2.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Tuesday, May 9th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 49.75%.
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In other news, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the transaction, the insider now directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the sale, the director now directly owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. Insiders have sold a total of 144,826 shares of company stock worth $8,642,454 over the last 90 days. Insiders own 3.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Garde Capital Inc. raised its stake in Starbucks Corporation by 53.8% in the third quarter. Garde Capital Inc. now owns 38,615 shares of the coffee company’s stock valued at $2,195,000 after buying an additional 13,505 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in Starbucks Corporation during the third quarter valued at approximately $16,303,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in Starbucks Corporation by 273.2% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 424,263 shares of the coffee company’s stock valued at $22,969,000 after buying an additional 310,580 shares during the last quarter. Capital One National Association raised its stake in Starbucks Corporation by 1.3% in the third quarter. Capital One National Association now owns 31,088 shares of the coffee company’s stock valued at $1,683,000 after buying an additional 397 shares during the last quarter. Finally, Hoertkorn Richard Charles raised its stake in Starbucks Corporation by 2.6% in the third quarter. Hoertkorn Richard Charles now owns 50,975 shares of the coffee company’s stock valued at $2,760,000 after buying an additional 1,275 shares during the last quarter. 71.13% of the stock is currently owned by hedge funds and other institutional investors.
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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