Starbucks Corporation (SBUX) Earns Buy Rating from Jefferies Group LLC

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.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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%.

ILLEGAL ACTIVITY NOTICE: “Starbucks Corporation (SBUX) Earns Buy Rating from Jefferies Group LLC” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.com-unik.info/2017/06/17/starbucks-co-sbux-stock-rating-reaffirmed-by-jefferies-group-llc-updated-updated-updated.html.

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.

What are top analysts saying about Starbucks Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Starbucks Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit