Shares of Starbucks Co. (NASDAQ:SBUX) have been assigned an average recommendation of “Buy” from the thirty-two analysts that are covering the company, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $64.97.
Several equities analysts have recently commented on SBUX shares. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a research report on Friday, January 5th. Tigress Financial restated a “buy” rating on shares of Starbucks in a research report on Tuesday, January 2nd. Deutsche Bank restated a “buy” rating and issued a $63.00 price objective on shares of Starbucks in a research report on Friday, January 26th. BTIG Research restated a “buy” rating and issued a $64.00 price objective on shares of Starbucks in a research report on Friday, January 26th. Finally, Goldman Sachs downgraded Starbucks from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the company from $73.00 to $68.00 in a research report on Friday, January 26th.
In other Starbucks news, Director Craig Weatherup sold 59,838 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now directly owns 26,500 shares of the company’s stock, valued at $1,592,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 in the company, valued at $2,126,280. The disclosure for this sale can be found here. Insiders have sold 247,664 shares of company stock worth $14,243,602 over the last three months. 3.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Abbot Financial Management Inc. bought a new position in Starbucks in the second quarter worth approximately $394,000. Van ECK Associates Corp grew its stake in Starbucks by 5.3% in the second quarter. Van ECK Associates Corp now owns 511,621 shares of the coffee company’s stock worth $29,833,000 after purchasing an additional 25,939 shares in the last quarter. Ithaka Group LLC grew its stake in Starbucks by 0.8% in the second quarter. Ithaka Group LLC now owns 369,513 shares of the coffee company’s stock worth $21,546,000 after purchasing an additional 2,979 shares in the last quarter. Trustmark National Bank Trust Department bought a new position in Starbucks in the second quarter worth approximately $2,077,000. Finally, GSA Capital Partners LLP bought a new position in Starbucks in the second quarter worth approximately $2,984,000. 73.49% of the stock is currently owned by institutional investors.
SBUX stock traded down $1.46 during midday trading on Friday, reaching $56.31. The company had a trading volume of 9,462,848 shares, compared to its average volume of 8,970,816. The stock has a market capitalization of $81,201.51, a P/E ratio of 18.58, a PEG ratio of 1.60 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87.
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 the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. Starbucks’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. sell-side analysts anticipate that Starbucks will post 2.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.13%. Starbucks’s payout ratio is currently 39.60%.
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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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