Starbucks (SBUX) Stock Rating Lowered by Vetr

Vetr downgraded shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research report sent to investors on Monday, January 8th. They currently have $61.72 price objective on the coffee company’s stock.

Other equities analysts have also recently issued reports about the stock. Piper Jaffray Companies reiterated a buy rating and set a $70.00 price objective on shares of Starbucks in a research report on Friday, January 5th. Zacks Investment Research cut shares of Starbucks from a hold rating to a sell rating in a research report on Friday, December 1st. Tigress Financial reiterated a buy rating on shares of Starbucks in a research report on Tuesday, January 2nd. Morgan Stanley upped their price objective on shares of Starbucks from $62.00 to $67.00 and gave the company an overweight rating in a research note on Friday, November 10th. Finally, UBS Group set a $64.00 target price on shares of Starbucks and gave the stock a buy rating in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the company. Starbucks has a consensus rating of Buy and an average price target of $64.32.

Shares of Starbucks (NASDAQ SBUX) traded down $0.23 during mid-day trading on Monday, hitting $55.77. 15,358,563 shares of the company traded hands, compared to its average volume of 10,210,000. The company has a market cap of $79,350.00, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks has a 1-year low of $52.58 and a 1-year high of $64.87.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.65%. Starbucks’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. equities research analysts anticipate that Starbucks will post 2.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.15%. Starbucks’s dividend payout ratio is currently 39.60%.

In other news, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Howard D. Schultz sold 290,176 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the sale, the insider now owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC boosted its position in Starbucks by 6.9% during the second 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. IHT Wealth Management LLC boosted its position in Starbucks by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new position in Starbucks during the third quarter worth about $111,000. Valley National Advisers Inc. boosted its position in Starbucks by 2.8% during the second 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. Finally, Shine Investment Advisory Services Inc. bought a new position in Starbucks during the second quarter worth about $128,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

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