Telsey Advisory Group reissued their outperform rating on shares of Starbucks (NASDAQ:SBUX) in a research report sent to investors on Friday, January 19th, MarketBeat Ratings reports. They currently have a $70.00 price target on the coffee company’s stock, up from their previous price target of $66.00.
A number of other research analysts also recently issued reports on SBUX. Vetr upgraded Starbucks from a buy rating to a strong-buy rating and set a $64.12 price target on the stock in a report on Tuesday, November 14th. Nomura reduced their price target on Starbucks from $67.00 to $63.00 and set a buy rating on the stock in a report on Friday, November 3rd. Tigress Financial assumed coverage on Starbucks in a report on Wednesday, December 27th. They set a buy rating on the stock. Mizuho restated a buy rating and set a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Finally, Credit Suisse Group restated a buy rating on shares of Starbucks in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $64.63.
Starbucks (SBUX) traded up $0.80 during midday trading on Friday, hitting $55.38. The stock had a trading volume of 10,963,413 shares, compared to its average volume of 12,250,000. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. The company has a market cap of $78,790.00, a price-to-earnings ratio of 18.28, a PEG ratio of 1.51 and a beta of 0.70.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the previous year, the company posted $0.52 EPS. Starbucks’s revenue for the quarter was up 5.9% on a year-over-year basis. sell-side analysts anticipate that Starbucks will post 2.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.17%. Starbucks’s dividend payout ratio is currently 39.60%.
In other news, Director Myron E. Ullman III sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the sale, the director now directly owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the transaction, the insider now directly owns 331,829 shares in the company, valued at $18,920,889.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 622,668 shares of company stock worth $35,579,388. Insiders own 3.48% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Taylor Hoffman Wealth Management bought a new position in Starbucks in the 4th quarter valued at approximately $107,000. Sumitomo Mitsui Financial Group Inc. bought a new position in Starbucks in the 3rd quarter valued at approximately $111,000. Jacobi Capital Management LLC lifted its position in Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after acquiring an additional 129 shares in the last quarter. Gradient Investments LLC bought a new position in Starbucks in the 4th quarter valued at approximately $117,000. Finally, Valley National Advisers Inc. lifted its position in Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after acquiring an additional 57 shares in the last quarter. 71.92% of the stock is currently owned by institutional investors and hedge funds.
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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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