Zacks Investment Research upgraded shares of Starbucks Corporation (NASDAQ:SBUX) from a sell rating to a hold rating in a research report sent to investors on Tuesday, October 24th.
According to Zacks, “Starbucks’s operating fundamentals such as solid global retail footprint, successful innovations, best-in-class loyalty program and digital offerings remain strong. Again, digital initiatives like mobile order/pay, delivery services and third-party loyalty partnerships can stimulate stronger sales trends in the Americas. CPG growth across the world as well as China/Asia expansion will also lead to value creation. These initiatives might benefit the company in the long run. However, the consequential increment in spending is likely to create pressure on its bottom line in the near term. Also, economic, geopolitical and consumer headwinds continue to impact Starbucks' results. Meanwhile, the company’s shares have underperformed the industry so far this year.”
Other equities research analysts have also recently issued research reports about the company. Cowen and Company reiterated a buy rating and set a $63.00 target price on shares of Starbucks Corporation in a report on Friday, September 1st. Mizuho reaffirmed a buy rating and issued a $75.00 target price on shares of Starbucks Corporation in a research report on Friday, September 29th. UBS AG set a $67.00 target price on Starbucks Corporation and gave the stock a buy rating in a research report on Friday, July 28th. Jefferies Group LLC reissued an average rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. Finally, Guggenheim downgraded Starbucks Corporation from a buy rating to a neutral rating in a research note on Friday, July 28th. Twelve investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $63.31.
Starbucks Corporation (SBUX) opened at $57.04 on Tuesday. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $81,658.46, a PE ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business earned $0.56 EPS. The firm’s revenue was down .2% compared to the same quarter last year. equities research analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be given a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
In other news, insider John Culver sold 64,776 shares of the firm’s 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 in the company, valued at approximately $20,898,857.14. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,708 shares of company stock valued at $8,322,192. 3.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its stake in shares of Starbucks Corporation by 2.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC lifted its stake in shares of Starbucks Corporation by 2.5% during the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after buying an additional 46 shares during the last quarter. Sharkey Howes & Javer lifted its stake in shares of Starbucks Corporation by 8.5% during the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Starbucks Corporation by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in shares of Starbucks Corporation during the 1st quarter worth about $122,000. Institutional investors own 70.83% of the company’s stock.
Starbucks Corporation 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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