BMO Capital Markets reaffirmed their outperform rating on shares of Starbucks Corporation (NASDAQ:SBUX) in a research report report published on Friday morning. They currently have a $64.00 price target on the coffee company’s stock, down from their prior price target of $67.00.

SBUX has been the subject of a number of other reports. Deutsche Bank AG restated a hold rating and set a $59.00 price objective on shares of Starbucks Corporation in a research report on Tuesday, April 11th. Wedbush restated a neutral rating and set a $60.00 price objective (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Stifel Nicolaus upgraded Starbucks Corporation from a hold rating to a buy rating and raised their price objective for the stock from $60.00 to $67.00 in a research report on Wednesday, April 19th. They noted that the move was a valuation call. Vetr upgraded Starbucks Corporation from a hold rating to a buy rating and set a $65.47 price objective for the company in a research report on Thursday, June 8th. Finally, Zacks Investment Research upgraded Starbucks Corporation from a hold rating to a buy rating and set a $64.00 price objective for the company in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $64.93.

Starbucks Corporation (NASDAQ:SBUX) opened at 53.98 on Friday. The firm has a market capitalization of $78.17 billion, a price-to-earnings ratio of 27.25 and a beta of 0.82. The stock’s 50 day moving average price is $58.66 and its 200 day moving average price is $58.51. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.01% and a net margin of 12.93%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Corporation will post $2.10 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.85%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.

In other Starbucks Corporation news, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the transaction, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the transaction, the director now directly owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. In the last three months, insiders sold 144,826 shares of company stock worth $8,642,454. Insiders own 3.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Gradient Investments LLC raised its stake in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock valued at $109,000 after buying an additional 718 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Sharkey Howes & Javer raised its stake in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC raised its stake in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Starbucks Corporation during the first quarter valued at about $122,000. Hedge funds and other institutional investors own 69.59% 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.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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