Starbucks Corporation (SBUX) Given New $64.00 Price Target at UBS AG
Starbucks Corporation (NASDAQ:SBUX) had its price target reduced by UBS AG from $67.00 to $64.00 in a research report report published on Friday. They currently have a buy rating on the coffee company’s stock.
Several other research analysts have also recently weighed in on SBUX. Mizuho restated a buy rating and issued a $75.00 price objective on shares of Starbucks Corporation in a research report on Thursday, July 6th. Piper Jaffray Companies restated a buy rating and issued a $70.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Starbucks Corporation from a sell rating to a hold rating in a research report on Thursday, July 20th. Cowen and Company restated an outperform rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 21st. Finally, Wedbush restated a neutral rating and issued a $60.00 price objective (down previously from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Thirteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $63.02.
Starbucks Corporation (SBUX) traded up $0.90 during mid-day trading on Friday, reaching $56.03. 28,729,036 shares of the company traded hands, compared to its average volume of 8,869,777. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.67. Starbucks Corporation has a 1 year low of $50.84 and a 1 year high of $64.87. The company has a market cap of $80,901.72, a PE ratio of 27.07, a PEG ratio of 1.39 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 52.65%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the company posted $0.56 EPS. Starbucks Corporation’s revenue was down .2% on a year-over-year basis. equities research analysts anticipate that Starbucks Corporation will post 2.32 earnings per share for the current 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 given a dividend of $0.30 per share. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.14%. Starbucks Corporation’s payout ratio is 50.76%.
In other news, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the sale, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
Several hedge funds have recently modified their holdings of SBUX. Maple Capital Management Inc. raised its holdings in shares of Starbucks Corporation by 99.4% in the 1st quarter. Maple Capital Management Inc. now owns 12,290 shares of the coffee company’s stock valued at $718,000 after purchasing an additional 6,125 shares during the period. Harbour Investment Management LLC bought a new stake in shares of Starbucks Corporation in the 1st quarter valued at about $5,161,000. Bank of New York Mellon Corp raised its holdings in shares of Starbucks Corporation by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after purchasing an additional 2,234,324 shares during the period. Baltimore Capital Management Inc. bought a new stake in shares of Starbucks Corporation in the 1st quarter valued at about $1,987,000. Finally, Ray Gerald L & Associates Ltd. raised its holdings in shares of Starbucks Corporation by 3.0% in the 1st quarter. Ray Gerald L & Associates Ltd. now owns 46,367 shares of the coffee company’s stock valued at $2,707,000 after purchasing an additional 1,333 shares during the period. 70.87% of the stock is currently owned by institutional investors.
Starbucks Corporation Company Profile
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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