Starbucks Corp. (SBUX) Stock Rating Upgraded by Vetr Inc.
Starbucks Corp. (NASDAQ:SBUX) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday. The firm presently has a $64.00 target price on the coffee company’s stock. Vetr‘s price target suggests a potential upside of 14.76% from the company’s previous close.
Several other equities analysts have also recently commented on SBUX. Goldman Sachs Group Inc. reissued a “buy” rating and set a $66.00 target price on shares of Starbucks Corp. in a research report on Sunday, November 6th. BTIG Research set a $64.00 target price on shares of Starbucks Corp. and gave the stock a “buy” rating in a research report on Monday, September 12th. Piper Jaffray Cos. set a $72.00 target price on shares of Starbucks Corp. and gave the stock a “buy” rating in a research report on Tuesday, September 20th. Nomura reissued a “buy” rating and set a $70.00 target price on shares of Starbucks Corp. in a research report on Monday, July 25th. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $58.00 target price on shares of Starbucks Corp. in a research report on Friday, August 5th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. Starbucks Corp. presently has a consensus rating of “Buy” and an average target price of $64.50.
Starbucks Corp. (NASDAQ:SBUX) opened at 55.77 on Thursday. Starbucks Corp. has a 12 month low of $50.84 and a 12 month high of $63.19. The firm has a market capitalization of $81.45 billion, a price-to-earnings ratio of 29.43 and a beta of 0.77. The firm has a 50-day moving average price of $53.59 and a 200 day moving average price of $55.22.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Starbucks Corp. had a net margin of 13.22% and a return on equity of 49.88%. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities analysts forecast 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. Investors of record on Thursday, November 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. This is a boost from Starbucks Corp.’s previous quarterly dividend of $0.20. Starbucks Corp.’s payout ratio is currently 52.63%.
Institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its position in shares of Starbucks Corp. by 5.4% in the third quarter. D.A. Davidson & CO. now owns 326,730 shares of the coffee company’s stock valued at $17,684,000 after buying an additional 16,598 shares in the last quarter. Bainco International Investors boosted its position in shares of Starbucks Corp. by 3.6% in the third quarter. Bainco International Investors now owns 3,740 shares of the coffee company’s stock valued at $202,000 after buying an additional 130 shares in the last quarter. Whalerock Point Partners LLC bought a new position in shares of Starbucks Corp. during the third quarter valued at about $213,000. Piedmont Investment Advisors LLC bought a new position in shares of Starbucks Corp. during the third quarter valued at about $35,659,000. Finally, Colony Group LLC bought a new position in shares of Starbucks Corp. during the third quarter valued at about $235,000. Institutional investors own 69.25% of the company’s stock.
Starbucks Corp. Company Profile
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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