Starbucks Co. (NASDAQ:SBUX) has been assigned a consensus rating of “Buy” from the thirty-two ratings firms that are covering the stock, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $87.54.
SBUX has been the topic of several research analyst reports. UBS Group increased their price target on shares of Starbucks from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. MKM Partners increased their price target on shares of Starbucks from $74.00 to $79.00 in a report on Wednesday, July 29th. Morgan Stanley increased their price target on shares of Starbucks from $79.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Monday, August 24th. Finally, Stephens increased their price target on shares of Starbucks from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th.
Shares of NASDAQ:SBUX opened at $87.22 on Thursday. Starbucks has a 52-week low of $50.02 and a 52-week high of $94.13. The company has a market capitalization of $101.90 billion, a P/E ratio of 78.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81. The company has a 50-day simple moving average of $87.21 and a 200 day simple moving average of $79.48.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the business posted $0.78 EPS. Starbucks’s revenue was down 38.1% on a year-over-year basis. Equities research analysts anticipate that Starbucks will post 0.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be given a $0.45 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $1.80 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Starbucks’s previous quarterly dividend of $0.41. Starbucks’s dividend payout ratio (DPR) is currently 57.95%.
In other news, Director Clara Shih sold 37,498 shares of Starbucks stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $79.13, for a total transaction of $2,967,216.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $86.97, for a total transaction of $369,796.44. Following the transaction, the director now owns 22,776 shares in the company, valued at approximately $1,980,828.72. The disclosure for this sale can be found here. Insiders sold 153,764 shares of company stock worth $13,404,656 in the last 90 days. Company insiders own 0.41% of the company’s stock.
Several large investors have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Starbucks by 2.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 84,120 shares of the coffee company’s stock valued at $7,227,000 after purchasing an additional 1,776 shares in the last quarter. Insight Wealth Strategies LLC increased its stake in Starbucks by 15.0% in the third quarter. Insight Wealth Strategies LLC now owns 5,249 shares of the coffee company’s stock valued at $451,000 after purchasing an additional 686 shares in the last quarter. LVW Advisors LLC increased its stake in Starbucks by 1.7% in the third quarter. LVW Advisors LLC now owns 47,209 shares of the coffee company’s stock valued at $4,056,000 after purchasing an additional 790 shares in the last quarter. Empirical Finance LLC increased its position in shares of Starbucks by 23.7% during the third quarter. Empirical Finance LLC now owns 10,299 shares of the coffee company’s stock worth $885,000 after acquiring an additional 1,973 shares in the last quarter. Finally, Schmidt P J Investment Management Inc. increased its position in shares of Starbucks by 21.5% during the third quarter. Schmidt P J Investment Management Inc. now owns 12,479 shares of the coffee company’s stock worth $1,124,000 after acquiring an additional 2,205 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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