Starbucks Corporation (SBUX) Given Average Rating of “Buy” by Brokerages
Shares of Starbucks Corporation (NASDAQ:SBUX) have been assigned an average rating of “Buy” from the thirty-four analysts that are presently covering the company, Marketbeat reports. Twelve research analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $63.40.
A number of equities analysts have recently issued reports on the stock. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Instinet reiterated a “buy” rating and issued a $67.00 price objective (down from $70.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. BTIG Research reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corporation in a research report on Sunday, July 30th. Stephens reiterated an “equal weight” rating and issued a $52.00 price objective (down from $58.00) on shares of Starbucks Corporation in a research report on Friday, September 29th. They noted that the move was a valuation call. Finally, Cowen Inc reiterated an “outperform” rating and issued a $63.00 price objective (down from $66.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down $0.34 on Friday, hitting $56.80. 3,479,177 shares of the stock were exchanged, compared to its average volume of 9,322,949. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $81,298.80, a price-to-earnings ratio of 27.60, a PEG ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The firm also recently announced 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. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio (DPR) is 60.91%.
In other Starbucks Corporation news, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. In the last three months, insiders sold 525,550 shares of company stock valued at $29,688,442. 3.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in shares of Starbucks Corporation by 32.9% during the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Starbucks Corporation by 52.6% during the 1st quarter. Toronto Dominion Bank now owns 399,621 shares of the coffee company’s stock worth $23,332,000 after buying an additional 137,795 shares during the last quarter. Warren Averett Asset Management LLC raised its stake in shares of Starbucks Corporation by 41.3% during the 1st quarter. Warren Averett Asset Management LLC now owns 5,846 shares of the coffee company’s stock worth $341,000 after buying an additional 1,709 shares during the last quarter. Sigma Investment Counselors Inc. acquired a new position in shares of Starbucks Corporation during the 1st quarter worth $442,000. Finally, Sawtooth Solutions LLC raised its stake in shares of Starbucks Corporation by 60.1% during the 1st quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after buying an additional 6,884 shares during the last quarter. 71.49% of the stock is owned by institutional investors.
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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