Starbucks Corporation (SBUX) Downgraded by Vetr Inc. to Buy
Vetr cut shares of Starbucks Corporation (NASDAQ:SBUX) from a strong-buy rating to a buy rating in a report issued on Monday. They currently have $64.32 target price on the coffee company’s stock.
A number of other equities research analysts have also recently weighed in on SBUX. Zacks Investment Research raised shares of Starbucks Corporation from a sell rating to a hold rating in a research report on Thursday, July 20th. Cowen and Company reissued an outperform rating and issued a $66.00 price target on shares of Starbucks Corporation in a research report on Friday, July 21st. Wedbush reissued a neutral rating and issued a $60.00 price target (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Sanford C. Bernstein reissued an outperform rating and issued a $67.00 price target on shares of Starbucks Corporation in a research report on Tuesday, July 25th. Finally, BidaskClub cut shares of Starbucks Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corporation currently has an average rating of Buy and an average target price of $63.31.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down $0.40 on Monday, reaching $56.64. 7,648,100 shares of the company were exchanged, compared to its average volume of 9,413,772. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87. The stock has a market capitalization of $81,780.00, a PE ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.72. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $0.56 earnings per share. Starbucks Corporation’s quarterly revenue was down .2% compared to the same quarter last year. analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Wednesday, November 15th. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio is 50.76%.
In related news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Insiders sold 150,708 shares of company stock worth $8,322,192 in the last ninety days. Insiders own 3.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Starbucks Corporation by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after buying an additional 1,953,003 shares during the period. State Street Corp lifted its stake in shares of Starbucks Corporation by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares during the period. Capital World Investors raised its stake in Starbucks Corporation by 2.0% during the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after purchasing an additional 895,432 shares during the period. Northern Trust Corp raised its stake in Starbucks Corporation by 5.2% during the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after purchasing an additional 1,060,298 shares during the period. Finally, Magellan Asset Management Ltd raised its stake in Starbucks Corporation by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. 72.01% of the stock is currently owned by institutional investors and hedge funds.
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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