Telsey Advisory Group Reiterates Market Perform Rating for Starbucks (SBUX)
Telsey Advisory Group reiterated their market perform rating on shares of Starbucks (NASDAQ:SBUX) in a research report released on Monday morning, Marketbeat Ratings reports. Telsey Advisory Group currently has a $70.00 price target on the coffee company’s stock, up from their prior price target of $66.00.
A number of other research firms have also recently issued reports on SBUX. Zacks Investment Research reaffirmed a buy rating and issued a $66.00 price objective on shares of Starbucks in a research report on Thursday, November 15th. BMO Capital Markets raised their price objective on Starbucks from $51.00 to $58.00 and gave the company a market perform rating in a research report on Friday, November 2nd. BidaskClub cut Starbucks from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Jefferies Financial Group reaffirmed a buy rating and issued a $76.00 price objective on shares of Starbucks in a research report on Friday, November 30th. They noted that the move was a valuation call. Finally, UBS Group set a $72.00 price objective on Starbucks and gave the company a buy rating in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $65.34.
SBUX opened at $66.55 on Monday. Starbucks has a 12-month low of $47.37 and a 12-month high of $68.98. The company has a market capitalization of $82.69 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.87 and a beta of 0.52. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 7.73.
The company also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a dividend of $0.36 per share. The ex-dividend date was Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.16%. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
In other Starbucks news, Director Myron E. Ullman III sold 99,166 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the transaction, the director now owns 29,000 shares in the company, valued at approximately $1,596,450. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of SBUX. Archford Capital Strategies LLC increased its stake in Starbucks by 669.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after acquiring an additional 1,902 shares during the period. Polaris Greystone Financial Group LLC bought a new position in Starbucks during the 3rd quarter worth $107,000. Fort L.P. bought a new position in Starbucks during the 2nd quarter worth $112,000. Point72 Hong Kong Ltd bought a new position in Starbucks during the 2nd quarter worth $115,000. Finally, RPg Family Wealth Advisory LLC increased its stake in Starbucks by 155.6% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after acquiring an additional 1,673 shares during the period. Hedge funds and other institutional investors own 76.07% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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