Starbucks Corporation (NASDAQ:SBUX) Downgraded by BidaskClub to “Sell”
BidaskClub lowered shares of Starbucks Corporation (NASDAQ:SBUX) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
Other analysts have also issued reports about the company. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a buy rating in a report on Tuesday, April 25th. Stifel Nicolaus raised Starbucks Corporation from a hold rating to a buy rating and increased their target price for the stock from $60.00 to $67.00 in a report on Wednesday, April 19th. They noted that the move was a valuation call. Vetr lowered Starbucks Corporation from a strong-buy rating to a buy rating and set a $64.50 target price on the stock. in a report on Tuesday, April 18th. Zacks Investment Research raised Starbucks Corporation from a hold rating to a buy rating and set a $64.00 target price on the stock in a report on Tuesday, April 18th. Finally, BMO Capital Markets reissued a buy rating and set a $62.00 target price on shares of Starbucks Corporation in a report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $65.19.
Shares of Starbucks Corporation (NASDAQ SBUX) traded down 9.24% during midday trading on Tuesday, hitting $54.00. 53,454,789 shares of the stock traded hands. The company has a market capitalization of $78.59 billion, a P/E ratio of 27.26 and a beta of 0.82. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a 50 day moving average of $58.89 and a 200 day moving average of $58.54.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 53.01% and a net margin of 12.93%. Starbucks Corporation’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. Equities research analysts predict that Starbucks Corporation will post $2.10 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. Starbucks Corporation’s payout ratio is currently 50.76%.
In other news, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of the sale, the insider now owns 363,343 shares in the company, valued at $21,604,374.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $60.43, for a total value of $1,208,600.00. Following the sale, the director now owns 34,000 shares of the company’s stock, valued at approximately $2,054,620. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,826 shares of company stock valued at $8,642,454. Corporate insiders own 3.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SBUX. Seven Eight Capital LP purchased a new stake in Starbucks Corporation during the fourth quarter valued at approximately $753,000. Ancora Advisors LLC purchased a new stake in Starbucks Corporation during the fourth quarter valued at approximately $219,000. Banco Santander S.A. purchased a new stake in Starbucks Corporation during the fourth quarter valued at approximately $3,069,000. Guggenheim Capital LLC increased its stake in Starbucks Corporation by 17.8% in the fourth quarter. Guggenheim Capital LLC now owns 1,463,722 shares of the coffee company’s stock valued at $81,266,000 after buying an additional 221,606 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Starbucks Corporation by 28.8% in the fourth quarter. AQR Capital Management LLC now owns 615,570 shares of the coffee company’s stock valued at $34,176,000 after buying an additional 137,659 shares in the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.
About Starbucks Corporation
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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