Starbucks Co. (SBUX) Rating Reiterated by Wells Fargo & Co
Starbucks Co. (NASDAQ:SBUX)‘s stock had its “outperform” rating restated by investment analysts at Wells Fargo & Co in a research note issued to investors on Monday. They presently have a $65.00 target price on the coffee company’s stock. Wells Fargo & Co’s price target points to a potential upside of 16.47% from the stock’s previous close.
Several other equities research analysts have also commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of Starbucks in a research report on Monday, March 13th. Wedbush restated an “outperform” rating and issued a $65.00 price objective on shares of Starbucks in a research report on Monday, March 13th. Credit Suisse Group AG restated a “neutral” rating on shares of Starbucks in a research report on Friday, March 10th. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.66 price objective on the stock. in a research report on Tuesday, March 7th. Finally, Robert W. Baird restated an “outperform” rating on shares of Starbucks in a research report on Thursday, February 16th. Eight investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $63.87.
Starbucks (NASDAQ:SBUX) traded up 0.05% on Monday, hitting $55.81. 7,948,425 shares of the company were exchanged. Starbucks has a 52-week low of $50.84 and a 52-week high of $61.64. The stock has a market capitalization of $81.34 billion, a P/E ratio of 28.62 and a beta of 0.79. The stock’s 50-day moving average price is $55.99 and its 200-day moving average price is $55.70.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, January 26th. The coffee company reported $0.52 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks will post $2.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Thursday, February 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Tuesday, February 7th. Starbucks’s dividend payout ratio is presently 51.28%.
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In other news, Director Joshua Cooper Ramo sold 5,868 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total transaction of $324,089.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Fusion Family Wealth LLC acquired a new position in Starbucks during the fourth quarter worth $123,000. Buffington Mohr McNeal boosted its position in Starbucks by 0.8% in the third quarter. Buffington Mohr McNeal now owns 2,142 shares of the coffee company’s stock worth $115,000 after buying an additional 17 shares in the last quarter. Cascade Investment Advisors Inc. acquired a new position in Starbucks during the fourth quarter worth $131,000. Stanford Investment Group Inc. boosted its position in Starbucks by 0.3% in the fourth quarter. Stanford Investment Group Inc. now owns 2,576 shares of the coffee company’s stock worth $143,000 after buying an additional 8 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Starbucks by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock worth $143,000 after buying an additional 1,715 shares in the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.
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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