Starbucks Corporation (SBUX) Research Coverage Started at Mizuho
Mizuho started coverage on shares of Starbucks Corporation (NASDAQ:SBUX) in a report published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $75.00 price objective on the coffee company’s stock.
A number of other equities research analysts have also recently commented on SBUX. Stifel Nicolaus raised shares of Starbucks Corporation to a buy rating in a research note on Saturday, May 13th. Vetr cut shares of Starbucks Corporation from a buy rating to a hold rating and set a $65.15 price objective on the stock. in a research note on Thursday, May 25th. Argus cut shares of Starbucks Corporation from a buy rating to a hold rating and raised their price objective for the stock from $55.50 to $55.81 in a research note on Friday, February 10th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a buy rating and set a $62.00 price objective on shares of Starbucks Corporation in a research note on Tuesday, April 4th. Finally, Zacks Investment Research cut shares of Starbucks Corporation from a buy rating to a hold rating in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Starbucks Corporation has an average rating of Buy and a consensus target price of $65.15.
Starbucks Corporation (NASDAQ SBUX) opened at 61.29 on Thursday. The firm has a 50 day moving average of $61.58 and a 200-day moving average of $58.27. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The company has a market capitalization of $88.75 billion, a price-to-earnings ratio of 30.31 and a beta of 0.76.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.42 billion. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Equities analysts expect that Starbucks Corporation will post $2.10 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Thursday, May 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $1.00 annualized dividend and a yield of 1.63%. Starbucks Corporation’s dividend payout ratio (DPR) is currently 49.75%.
In related news, insider Clifford Burrows sold 114,826 shares of the business’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 directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Myron E. Ullman III sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $60.43, for a total transaction of $1,208,600.00. Following the completion of the sale, the director now owns 34,000 shares in the company, valued at $2,054,620. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC raised its stake in shares of Starbucks Corporation by 45.2% in the first quarter. Clearbridge Investments LLC now owns 160,128 shares of the coffee company’s stock valued at $9,350,000 after buying an additional 49,860 shares during the period. Laurel Wealth Advisors Inc. raised its stake in shares of Starbucks Corporation by 62.6% in the first quarter. Laurel Wealth Advisors Inc. now owns 14,118 shares of the coffee company’s stock valued at $824,000 after buying an additional 5,437 shares during the period. Perigon Wealth Management LLC raised its stake in shares of Starbucks Corporation by 5.4% in the first quarter. Perigon Wealth Management LLC now owns 40,101 shares of the coffee company’s stock valued at $2,342,000 after buying an additional 2,050 shares during the period. Sowell Financial Services LLC raised its stake in shares of Starbucks Corporation by 8.7% in the first quarter. Sowell Financial Services LLC now owns 54,490 shares of the coffee company’s stock valued at $3,372,000 after buying an additional 4,371 shares during the period. Finally, Piedmont Investment Advisors LLC raised its stake in shares of Starbucks Corporation by 1.1% in the first quarter. Piedmont Investment Advisors LLC now owns 425,414 shares of the coffee company’s stock valued at $24,840,000 after buying an additional 4,815 shares during the period. Hedge funds and other institutional investors own 71.13% of the company’s stock.
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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