Starbucks Corp. (SBUX) PT Set at $64.00 by Piper Jaffray Cos.
Starbucks Corp. (NASDAQ:SBUX) has been assigned a $64.00 price target by investment analysts at Piper Jaffray Cos. in a research note issued on Tuesday. The firm currently has a “buy” rating on the coffee company’s stock. Piper Jaffray Cos.’s target price would indicate a potential upside of 11.01% from the company’s previous close.
A number of other analysts have also issued reports on the company. Vetr lowered Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.81 target price on the stock. in a report on Tuesday, November 22nd. Buckingham Research began coverage on Starbucks Corp. in a report on Monday, November 21st. They issued a “neutral” rating and a $50.84 target price on the stock. RBC Capital Markets reaffirmed an “outperform” rating and issued a $64.00 target price on shares of Starbucks Corp. in a report on Monday, November 7th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $66.00 target price on shares of Starbucks Corp. in a report on Sunday, November 6th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Starbucks Corp. in a report on Sunday, November 6th. Seven investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks Corp. presently has an average rating of “Buy” and an average target price of $63.30.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.85% during midday trading on Tuesday, reaching $58.08. The company’s stock had a trading volume of 6,597,911 shares. The stock has a 50 day moving average price of $54.16 and a 200-day moving average price of $55.22. The company has a market capitalization of $84.53 billion, a price-to-earnings ratio of 30.57 and a beta of 0.77. Starbucks Corp. has a 52-week low of $50.84 and a 52-week high of $62.54.
Starbucks Corp. (NASDAQ:SBUX) last released its earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.68 billion. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The company’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Equities research analysts expect that Starbucks Corp. will post $2.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date is Tuesday, November 15th. This is a positive change from Starbucks Corp.’s previous quarterly dividend of $0.20. Starbucks Corp.’s dividend payout ratio is presently 52.63%.
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A number of hedge funds have recently added to or reduced their stakes in SBUX. Fulton Bank N.A. raised its stake in Starbucks Corp. by 4.9% in the second quarter. Fulton Bank N.A. now owns 47,184 shares of the coffee company’s stock valued at $2,695,000 after buying an additional 2,184 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock valued at $146,000 after buying an additional 1,484 shares in the last quarter. Boltwood Capital Management acquired a new stake in Starbucks Corp. during the second quarter valued at about $826,000. First Financial Bank N.A. Trust Division raised its stake in Starbucks Corp. by 1.7% in the second quarter. First Financial Bank N.A. Trust Division now owns 8,885 shares of the coffee company’s stock valued at $508,000 after buying an additional 150 shares in the last quarter. Finally, Integrated Investment Consultants LLC raised its stake in Starbucks Corp. by 2.5% in the second quarter. Integrated Investment Consultants LLC now owns 10,620 shares of the coffee company’s stock valued at $607,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 67.37% 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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