Starbucks Corporation (NASDAQ:SBUX) Given Consensus Recommendation of “Buy” by Brokerages
Starbucks Corporation (NASDAQ:SBUX) has earned an average recommendation of “Buy” from the thirty-six research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $64.96.
A number of research firms have recently issued reports on SBUX. Wedbush restated a “neutral” rating and set a $60.00 price target (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Stifel Nicolaus upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.00 to $67.00 in a research note on Wednesday, April 19th. They noted that the move was a valuation call. Vetr upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price objective on the stock in a research note on Thursday, June 8th. BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, April 18th.
Starbucks Corporation (SBUX) traded up 0.21% during mid-day trading on Friday, reaching $53.18. 9,234,463 shares of the company’s stock traded hands. The company has a market capitalization of $76.79 billion, a price-to-earnings ratio of 26.85 and a beta of 0.80. The company has a 50-day moving average of $57.37 and a 200-day moving average of $58.32. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is 50.76%.
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In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the purchase, the director now owns 18,000 shares in the company, valued at approximately $995,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the transaction, the director now owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Gradient Investments LLC boosted its position in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares in the last quarter. Jacobi Capital Management LLC boosted 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 worth $109,000 after buying an additional 50 shares in the last quarter. Sharkey Howes & Javer boosted 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 worth $112,000 after buying an additional 150 shares in the last quarter. IHT Wealth Management LLC boosted 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 worth $117,000 after buying an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth about $122,000. Institutional investors own 69.85% 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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