Starbucks Corporation (SBUX) Receives Buy Rating from Credit Suisse Group
A number of other research analysts have also recently issued reports on SBUX. Nomura decreased their target price on Starbucks Corporation from $67.00 to $63.00 and set a buy rating on the stock in a research report on Friday. Robert W. Baird decreased their target price on Starbucks Corporation from $70.00 to $66.00 and set an outperform rating on the stock in a research report on Friday. UBS AG decreased their target price on Starbucks Corporation from $67.00 to $64.00 and set a buy rating on the stock in a research report on Friday. BMO Capital Markets cut Starbucks Corporation from an outperform rating to a market perform rating and lifted their target price for the company from $54.52 to $64.00 in a research report on Wednesday, August 9th. Finally, Vetr cut Starbucks Corporation from a strong-buy rating to a buy rating and set a $60.91 target price on the stock. in a research report on Thursday, November 2nd. Twelve equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $63.14.
Starbucks Corporation (SBUX) traded up $0.65 during trading on Monday, reaching $57.22. The company’s stock had a trading volume of 11,146,566 shares, compared to its average volume of 9,290,000. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The company has a market capitalization of $82,620.00, a PE ratio of 27.07, a PEG ratio of 1.40 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. research analysts forecast that Starbucks Corporation will post 2.32 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.30 per share. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. Starbucks Corporation’s payout ratio is currently 50.76%.
In other news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Culver sold 64,776 shares of the business’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 value of $3,468,107.04. Following the sale, the insider now owns 390,341 shares of the company’s stock, valued at approximately $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 and other institutional investors have recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd increased its holdings in shares of 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 valued at $1,090,000,000 after acquiring an additional 18,667,265 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Starbucks Corporation by 3,076.5% during the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after buying an additional 13,452,551 shares in the last quarter. Parnassus Investments CA bought a new stake in Starbucks Corporation during the third quarter worth $498,863,000. Ameriprise Financial Inc. grew its holdings in Starbucks Corporation by 32.9% during 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. Finally, Renaissance Technologies LLC grew its holdings in Starbucks Corporation by 539.2% during the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after buying an additional 3,305,700 shares in the last quarter. Hedge funds and other institutional investors own 70.83% 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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