Starbucks Co. (SBUX) Earns “Outperform” Rating from Wells Fargo & Co
Starbucks Co. (NASDAQ:SBUX)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wells Fargo & Co in a research report issued on Monday. They currently have a $65.00 price target on the coffee company’s stock. Wells Fargo & Co’s price target indicates a potential upside of 16.47% from the company’s current price.
Other research analysts have also issued reports about the company. Edward Jones raised Starbucks from a “hold” rating to a “buy” rating in a research report on Tuesday, December 6th. Nomura reaffirmed a “buy” rating and issued a $70.00 target price on shares of Starbucks in a research report on Thursday, December 1st. Piper Jaffray Companies set a $64.00 target price on Starbucks and gave the stock a “buy” rating in a research report on Tuesday, November 29th. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.81 target price on the stock. in a research report on Tuesday, November 22nd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $64.00 target price on shares of Starbucks in a research report on Sunday, December 4th. Eight research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $63.87.
Shares of Starbucks (NASDAQ:SBUX) traded up 0.05% during mid-day trading on Monday, reaching $55.81. The company’s stock had a trading volume of 7,948,425 shares. Starbucks has a 52 week low of $50.84 and a 52 week high of $61.64. The firm has a 50-day moving average of $55.99 and a 200-day moving average of $55.70. The firm has a market capitalization of $81.34 billion, a PE ratio of 28.62 and a beta of 0.79.
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Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.85 billion. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. Equities research analysts forecast that Starbucks will post $2.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Thursday, February 9th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $1.00 annualized dividend and a yield of 1.79%. Starbucks’s payout ratio is 51.28%.
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In related news, Director Joshua Cooper Ramo sold 5,868 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total transaction of $324,089.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.40% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the company. Israel Discount Bank of New York GFN purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $694,000. Norges Bank purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $680,375,000. Sowell Financial Services LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $2,836,000. CMH Wealth Management LLC acquired a new position in Starbucks during the fourth quarter valued at about $1,262,000. Finally, AE Wealth Management LLC acquired a new position in Starbucks during the fourth quarter valued at about $388,000. 68.49% of the stock is currently owned by hedge funds and other institutional investors.
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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