Traders Buy Starbucks Corporation (SBUX) on Weakness
Traders purchased shares of Starbucks Corporation (NASDAQ:SBUX) on weakness during trading on Monday. $73.55 million flowed into the stock on the tick-up and $46.89 million flowed out of the stock on the tick-down, for a money net flow of $26.66 million into the stock. Of all stocks tracked, Starbucks Corporation had the 19th highest net in-flow for the day. Starbucks Corporation traded down ($0.40) for the day and closed at $56.64
Several analysts recently commented on SBUX shares. UBS AG dropped their price objective on Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Cowen and Company reaffirmed a “buy” rating and set a $63.00 price objective on shares of Starbucks Corporation in a research note on Friday, September 1st. Mizuho set a $75.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Vetr downgraded Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective on the stock. in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Twelve equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Starbucks Corporation currently has an average rating of “Buy” and a consensus price target of $63.31.
The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The firm has a market cap of $81,658.46, a PE ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date is Wednesday, November 15th. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.10%. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
In other news, insider John Culver sold 64,776 shares of Starbucks Corporation 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 completion of the sale, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were 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 of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. Insiders have sold 150,708 shares of company stock valued at $8,322,192 over the last 90 days. Company insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its position in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares in the last quarter. Gradient Investments LLC raised its position in shares of Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Starbucks Corporation in the third quarter valued at approximately $111,000. Sharkey Howes & Javer raised its position in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares in the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares in the last quarter. Institutional investors own 72.01% 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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