Starbucks Corp. (SBUX) Downgraded to Buy at Vetr Inc.
Vetr downgraded shares of Starbucks Corp. (NASDAQ:SBUX) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning. They currently have $61.81 target price on the coffee company’s stock.
Several other equities research analysts have also issued reports on the company. Robert W. Baird reaffirmed an outperform rating on shares of Starbucks Corp. in a research note on Thursday, September 8th. Goldman Sachs Group Inc. reaffirmed a buy rating and issued a $69.00 price objective on shares of Starbucks Corp. in a research note on Friday, September 23rd. BMO Capital Markets reaffirmed a buy rating on shares of Starbucks Corp. in a research note on Friday, November 4th. Zacks Investment Research lowered Starbucks Corp. from a hold rating to a sell rating in a research note on Wednesday, September 21st. Finally, Stifel Nicolaus reaffirmed a hold rating on shares of Starbucks Corp. in a research note on Friday, November 4th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $64.38.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.399% during trading on Wednesday, hitting $55.661. The stock had a trading volume of 4,092,307 shares. The stock has a market cap of $81292.89 billion, a price-to-earnings ratio of 29.295 and a beta of 0.77. The stock has a 50 day moving average price of $53.53 and a 200-day moving average price of $55.23. Starbucks Corp. has a 12 month low of $50.84 and a 12 month high of $63.19.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. The business earned $5.71 billion during the quarter, compared to analysts’ expectations of $5.68 billion. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. On average, equities analysts predict that Starbucks Corp. will post $2.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from Starbucks Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, November 15th. Starbucks Corp.’s dividend payout ratio (DPR) is presently 42.11%.
Large investors have recently bought and sold shares of the stock. Capital World Investors boosted its position in shares of Starbucks Corp. by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock worth $1,878,530,000 after buying an additional 8,071,610 shares during the period. Ameriprise Financial Inc. boosted its stake in Starbucks Corp. by 136.4% in the third quarter. Ameriprise Financial Inc. now owns 10,310,495 shares of the coffee company’s stock valued at $558,015,000 after buying an additional 5,949,819 shares during the last quarter. Bank of Montreal Can purchased a new stake in Starbucks Corp. during the second quarter valued at approximately $204,254,000. Vontobel Asset Management Inc. boosted its stake in Starbucks Corp. by 744.1% in the third quarter. Vontobel Asset Management Inc. now owns 3,517,590 shares of the coffee company’s stock valued at $196,385,000 after buying an additional 3,100,871 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Starbucks Corp. by 433.2% in the third quarter. Neuberger Berman Group LLC now owns 3,316,604 shares of the coffee company’s stock valued at $179,561,000 after buying an additional 2,694,557 shares during the last quarter. Institutional investors own 69.25% of the company’s stock.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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