Starbucks Corporation (SBUX) PT Set at $67.00 by UBS AG
UBS AG set a $67.00 price objective on Starbucks Corporation (NASDAQ:SBUX) in a research note released on Friday morning, www.flashratings.com reports. The firm currently has a buy rating on the coffee company’s stock.
A number of other brokerages have also issued reports on SBUX. Vetr lowered Starbucks Corporation from a buy rating to a hold rating and set a $65.15 price target for the company. in a research report on Thursday, May 25th. Mizuho assumed coverage on Starbucks Corporation in a research report on Thursday, June 8th. They set a buy rating and a $75.00 price target for the company. Sanford C. Bernstein reiterated a buy rating and set a $67.00 price target on shares of Starbucks Corporation in a research report on Monday, June 12th. Royal Bank Of Canada reiterated an outperform rating and set a $66.00 price target on shares of Starbucks Corporation in a research report on Tuesday, June 13th. Finally, OTR Global lowered Starbucks Corporation to a positive rating in a research report on Tuesday, April 25th. One investment 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 given a strong buy rating to the stock. Starbucks Corporation presently has an average rating of Buy and an average price target of $64.93.
Starbucks Corporation (NASDAQ SBUX) opened at 53.98 on Friday. The stock has a market cap of $78.17 billion, a PE ratio of 27.25 and a beta of 0.82. The firm has a 50-day moving average price of $58.66 and a 200 day moving average price of $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 announced its quarterly earnings results 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 analyst estimates of $5.76 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts anticipate that Starbucks Corporation will post $2.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
In related news, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $59.46, for a total value of $6,827,553.96. Following the sale, the insider now owns 363,343 shares in the company, valued at approximately $21,604,374.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. Insiders have sold 144,826 shares of company stock worth $8,642,454 in the last ninety days. Insiders own 3.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. Magellan Asset Management Ltd raised its stake in Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares during the period. Norges Bank bought a new position in Starbucks Corporation during the fourth quarter worth $680,375,000. Ameriprise Financial Inc. increased its position in Starbucks Corporation by 32.9% in the first 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 in the last quarter. Bank of New York Mellon Corp increased its position in Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after buying an additional 2,234,324 shares in the last quarter. Finally, State Street Corp increased its position in Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares in the last quarter. 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.
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