Starbucks Corporation (SBUX) Receives Average Recommendation of “Buy” from Brokerages
Starbucks Corporation (NASDAQ:SBUX) has received a consensus recommendation of “Buy” from the thirty-three ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twenty have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $63.36.
SBUX has been the subject of a number of recent research reports. Morgan Stanley reduced their target price on shares of Starbucks from $68.00 to $62.00 and set a “weight” rating for the company in a research report on Tuesday, August 22nd. Cleveland Research cut shares of Starbucks from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 23rd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 target price on shares of Starbucks in a research report on Wednesday, August 23rd. Cowen restated an “outperform” rating and set a $63.00 price objective on shares of Starbucks in a research report on Thursday, August 24th. Finally, Wedbush upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $57.00 to $60.00 in a research report on Friday, August 25th.
Shares of Starbucks (SBUX) traded up $0.21 during midday trading on Thursday, hitting $59.70. 8,850,316 shares of the stock were exchanged, compared to its average volume of 9,348,336. The firm has a market capitalization of $84,329.36, a PE ratio of 28.63, a price-to-earnings-growth ratio of 1.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks has a 1-year low of $52.58 and a 1-year high of $64.87.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were paid a $0.30 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.01%. Starbucks’s dividend payout ratio (DPR) is presently 60.91%.
In related news, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. In the last three months, insiders sold 497,808 shares of company stock valued at $28,559,521. Insiders own 3.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Magellan Asset Management Ltd increased its holdings in shares of Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after acquiring an additional 13,452,551 shares during the period. Parnassus Investments CA acquired a new position in shares of Starbucks in the 3rd quarter valued at $498,863,000. Capital International Investors increased its stake in Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after buying an additional 4,696,452 shares during the period. Finally, Harding Loevner LP acquired a new position in Starbucks in the 3rd quarter valued at $128,044,000. 71.07% of the stock is currently owned by institutional investors.
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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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