Starbucks Co. (NASDAQ:SBUX) shares traded up 0.6% on Monday after Mizuho upgraded the stock from a neutral rating to a buy rating. Mizuho now has a $75.00 price target on the stock, up from their previous price target of $56.00. Starbucks traded as high as $65.68 and last traded at $64.69. 1,040,335 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 14,903,019 shares. The stock had previously closed at $64.32.
A number of other research analysts also recently commented on SBUX. BMO Capital Markets set a $51.00 target price on Starbucks and gave the company a “hold” rating in a research report on Monday, July 23rd. Barclays lowered their target price on Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a research report on Wednesday, July 18th. Telsey Advisory Group lowered their target price on Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, July 17th. ValuEngine upgraded Starbucks from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. Finally, Robert W. Baird increased their target price on Starbucks from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $63.48.
In related news, insider Rosalind G. Brewer purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were bought at an average price of $54.04 per share, for a total transaction of $270,200.00. Following the acquisition, the insider now owns 7,302 shares of the company’s stock, valued at approximately $394,600.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Javier G. Teruel sold 166,666 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The disclosure for this sale can be found here. Insiders have sold a total of 280,832 shares of company stock worth $15,052,087 in the last 90 days. 3.48% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SBUX. Archford Capital Strategies LLC increased its stake in Starbucks by 669.7% in the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after purchasing an additional 1,902 shares during the period. Polaris Greystone Financial Group LLC purchased a new stake in Starbucks in the third quarter worth $107,000. Fort L.P. purchased a new stake in Starbucks in the second quarter worth $112,000. Point72 Hong Kong Ltd purchased a new stake in Starbucks in the second quarter worth $115,000. Finally, RPg Family Wealth Advisory LLC increased its stake in Starbucks by 155.6% in the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after purchasing an additional 1,673 shares during the period. Institutional investors and hedge funds own 71.77% of the company’s stock.
The company has a debt-to-equity ratio of 7.73, a current ratio of 2.20 and a quick ratio of 1.95. The company has a market capitalization of $86.77 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The business had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.36 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.44 annualized dividend and a dividend yield of 2.23%. Starbucks’s dividend payout ratio is currently 59.50%.
WARNING: This story was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/11/06/starbucks-sbux-trading-0-6-higher-on-analyst-upgrade.html.
About Starbucks (NASDAQ:SBUX)
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.
Featured Article: Price to Earnings Ratio (PE), For Valuing Stocks
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.