Starbucks Co. (NASDAQ:SBUX) Receives Average Recommendation of “Buy” from Analysts
Starbucks Co. (NASDAQ:SBUX) has received an average rating of “Buy” from the thirty brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $89.11.
Several brokerages recently issued reports on SBUX. BMO Capital Markets raised their target price on shares of Starbucks to $84.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Cowen set a $93.00 target price on shares of Starbucks and gave the stock a “hold” rating in a report on Friday, July 26th. Stephens raised their target price on shares of Starbucks from $72.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Jefferies Financial Group raised their target price on shares of Starbucks from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus raised their target price on shares of Starbucks from $86.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, July 26th.
Shares of Starbucks stock traded up $1.72 during trading on Tuesday, hitting $96.63. 7,771,070 shares of the company’s stock were exchanged, compared to its average volume of 8,993,376. The firm’s 50-day simple moving average is $91.15. Starbucks has a 52-week low of $51.79 and a 52-week high of $99.72. The company has a market cap of $113.28 billion, a PE ratio of 39.93, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, August 8th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 annualized dividend and a yield of 1.49%. Starbucks’s dividend payout ratio is presently 59.50%.
In other news, insider John Culver sold 63,937 shares of Starbucks stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $78.04, for a total value of $4,989,643.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jill Walker sold 6,492 shares of Starbucks stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total transaction of $621,284.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,738 shares of company stock worth $11,291,327. Company insiders own 3.98% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lake Point Wealth Management acquired a new position in Starbucks during the fourth quarter worth about $25,000. Enterprise Trust & Investment Co acquired a new position in Starbucks during the second quarter worth about $25,000. Cowen Prime Services LLC acquired a new position in Starbucks during the first quarter worth about $26,000. Paragon Capital Management LLC acquired a new position in Starbucks during the first quarter worth about $29,000. Finally, Northern Oak Wealth Management Inc. boosted its position in Starbucks by 95.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 72.54% of the company’s stock.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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