Starbucks Corporation’s (SBUX) Outperform Rating Reiterated at Royal Bank Of Canada
Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday. They currently have a $66.00 price objective on the coffee company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 7.68% from the stock’s current price.
SBUX has been the subject of several other research reports. Deutsche Bank AG reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Starbucks Corporation in a report on Tuesday, April 11th. Robert W. Baird reaffirmed an “outperform” rating on shares of Starbucks Corporation in a report on Thursday, February 16th. Stifel Nicolaus raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $67.00 in a report on Wednesday, April 19th. They noted that the move was a valuation call. Vetr raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price objective for the company in a report on Thursday, June 8th. Finally, Zacks Investment Research raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $65.15.
Shares of Starbucks Corporation (SBUX) traded down 0.64% during mid-day trading on Tuesday, hitting $60.90. 4,315,987 shares of the company traded hands. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The firm has a market cap of $88.19 billion, a price-to-earnings ratio of 30.12 and a beta of 0.76. The firm has a 50-day moving average price of $61.58 and a 200 day moving average price of $58.27.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.42 billion. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. Equities research analysts anticipate that Starbucks Corporation will post $2.10 EPS for the current fiscal year.
The company 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 was Tuesday, May 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. Starbucks Corporation’s dividend payout ratio is currently 49.75%.
In related news, insider Clifford Burrows sold 114,826 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the transaction, the insider now owns 363,343 shares in the company, valued at $21,604,374.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total value of $1,208,600.00. Following the completion of the transaction, the director now owns 34,000 shares in the company, valued at approximately $2,054,620. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Colony Group LLC purchased a new position in Starbucks Corporation during the third quarter worth approximately $235,000. Whalerock Point Partners LLC bought a new stake in shares of Starbucks Corporation during the third quarter worth about $213,000. Bainco International Investors boosted its stake in shares of Starbucks Corporation by 3.6% in the third quarter. Bainco International Investors now owns 3,740 shares of the coffee company’s stock worth $202,000 after buying an additional 130 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Starbucks Corporation by 5.4% in the third quarter. D.A. Davidson & CO. now owns 326,730 shares of the coffee company’s stock worth $17,684,000 after buying an additional 16,598 shares during the last quarter. Finally, ETRADE Capital Management LLC boosted its stake in shares of Starbucks Corporation by 39.7% in the third quarter. ETRADE Capital Management LLC now owns 15,339 shares of the coffee company’s stock worth $831,000 after buying an additional 4,360 shares during the last quarter. Hedge funds and other institutional investors own 71.13% 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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