Starbucks Corporation (SBUX) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of Starbucks Corporation (NASDAQ:SBUX) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning. The firm currently has $64.05 price objective on the coffee company’s stock.
Several other equities research analysts have also recently weighed in on the company. OTR Global upgraded Starbucks Corporation to a positive rating in a report on Thursday, October 26th. Zacks Investment Research upgraded Starbucks Corporation from a sell rating to a hold rating in a report on Wednesday, September 6th. Bank of America Corporation reiterated a neutral rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Thursday, September 14th. Cowen and Company reiterated a buy rating and issued a $63.00 target price on shares of Starbucks Corporation in a report on Friday, September 1st. Finally, Morgan Stanley upped their target price on Starbucks Corporation from $62.00 to $67.00 and gave the stock an overweight rating in a report on Friday, November 10th. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Starbucks Corporation currently has an average rating of Buy and a consensus target price of $63.31.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at $57.26 on Tuesday. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87. The firm has a market capitalization of $80,829.27, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. 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 Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the business earned $0.56 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. sell-side analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.10%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is 60.91%.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total value of $16,548,737.28. Following the transaction, the insider now owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. Insiders have sold 443,884 shares of company stock worth $25,041,780 in the last quarter. 3.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Coastline Trust Co boosted its position in Starbucks Corporation by 168.9% during the third quarter. Coastline Trust Co now owns 9,265 shares of the coffee company’s stock worth $498,000 after purchasing an additional 5,820 shares in the last quarter. Daniel Devine & Co purchased a new position in Starbucks Corporation during the third quarter worth approximately $1,591,000. Garde Capital Inc. boosted its position in Starbucks Corporation by 59.1% during the third quarter. Garde Capital Inc. now owns 37,045 shares of the coffee company’s stock worth $1,990,000 after purchasing an additional 13,754 shares in the last quarter. Gofen & Glossberg LLC IL boosted its position in Starbucks Corporation by 1.5% during the third quarter. Gofen & Glossberg LLC IL now owns 517,709 shares of the coffee company’s stock worth $27,806,000 after purchasing an additional 7,649 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in Starbucks Corporation by 51.9% during the third quarter. Moors & Cabot Inc. now owns 43,458 shares of the coffee company’s stock worth $2,336,000 after purchasing an additional 14,839 shares in the last quarter. Institutional investors own 71.49% of the company’s stock.
About Starbucks Corporation
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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