Starbucks Co. (SBUX) Rating Reiterated by Wells Fargo & Co
Starbucks Co. (NASDAQ:SBUX)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co in a research note issued on Monday. They currently have a $65.00 price objective on the coffee company’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 16.47% from the stock’s current price.
SBUX has been the subject of several other reports. Stephens restated an “equal weight” rating and set a $58.00 price target on shares of Starbucks in a research note on Sunday, January 29th. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.81 price target for the company. in a research note on Tuesday, November 22nd. Buckingham Research dropped their price target on Starbucks from $59.00 to $54.00 and set a “hold” rating for the company in a research note on Friday, January 27th. Credit Suisse Group AG restated a “neutral” rating and set a $55.00 price target on shares of Starbucks in a research note on Monday, January 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $64.00 price target on shares of Starbucks in a research note on Thursday, December 1st. Eight analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Starbucks presently has an average rating of “Buy” and an average price target of $63.87.
Starbucks (NASDAQ:SBUX) traded up 0.05% on Monday, reaching $55.81. The company’s stock had a trading volume of 7,948,425 shares. The company has a market capitalization of $81.34 billion, a price-to-earnings ratio of 28.62 and a beta of 0.79. Starbucks has a 52 week low of $50.84 and a 52 week high of $61.64. The firm’s 50 day moving average price is $55.99 and its 200-day moving average price is $55.70.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 26th. The coffee company reported $0.52 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. The company earned $5.70 billion during the quarter, compared to analyst estimates of $5.85 billion. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts predict that Starbucks will post $2.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Thursday, February 9th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, February 7th. Starbucks’s payout ratio is 51.28%.
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In other news, Director Joshua Cooper Ramo sold 5,868 shares of the stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total transaction of $324,089.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in SBUX. Buffington Mohr McNeal boosted its stake in shares of Starbucks by 0.8% in the third quarter. Buffington Mohr McNeal now owns 2,142 shares of the coffee company’s stock worth $115,000 after buying an additional 17 shares during the last quarter. Fusion Family Wealth LLC bought a new stake in shares of Starbucks during the fourth quarter worth $123,000. Cascade Investment Advisors Inc. bought a new stake in shares of Starbucks during the fourth quarter worth $131,000. Cornerstone Advisors Inc. boosted its stake in shares of Starbucks by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock worth $143,000 after buying an additional 1,715 shares during the last quarter. Finally, Stanford Investment Group Inc. boosted its stake in shares of Starbucks by 0.3% in the fourth quarter. Stanford Investment Group Inc. now owns 2,576 shares of the coffee company’s stock worth $143,000 after buying an additional 8 shares during the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.
Starbucks 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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