UBS AG set a $64.00 price objective on Starbucks Corporation (NASDAQ:SBUX) in a research report released on Wednesday, www.tipranks.com reports. The brokerage currently has a buy rating on the coffee company’s stock.
A number of other analysts have also recently issued reports on the company. OTR Global raised Starbucks Corporation to a positive rating in a report on Thursday, October 26th. Zacks Investment Research raised Starbucks Corporation from a sell rating to a hold rating in a report on Wednesday, September 6th. Bank of America Corporation reissued a neutral rating and set a $65.00 price objective on shares of Starbucks Corporation in a report on Thursday, September 14th. Cowen and Company reissued a buy rating and set a $63.00 price objective on shares of Starbucks Corporation in a report on Friday, September 1st. Finally, Wedbush raised Starbucks Corporation from a neutral rating to an outperform rating and increased their price objective for the stock from $57.00 to $60.00 in a report on Friday, August 25th. 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 stock. Starbucks Corporation has a consensus rating of Buy and an average target price of $63.31.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down $0.31 on Wednesday, reaching $56.93. The company had a trading volume of 6,297,502 shares, compared to its average volume of 9,385,098. The stock has a market cap of $82,650.00, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.56 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 has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 EPS. research analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be given a $0.30 dividend. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 60.91%.
In other news, insider Howard D. Schultz sold 290,176 shares of the firm’s 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 completion of the transaction, the insider now owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 443,884 shares of company stock worth $25,041,780. Corporate insiders own 3.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Starbucks Corporation by 12.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after purchasing an additional 10,250 shares during the period. Geneva Advisors LLC lifted its stake in shares of Starbucks Corporation by 2.3% in the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after purchasing an additional 63,041 shares during the period. Regent Investment Management LLC lifted its stake in shares of Starbucks Corporation by 6.8% in the 2nd quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after purchasing an additional 300 shares during the period. Private Vista LLC lifted its stake in shares of Starbucks Corporation by 3,334.9% in the 2nd quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after purchasing an additional 213,303 shares during the period. Finally, Welch Group LLC purchased a new position in shares of Starbucks Corporation in the 2nd quarter valued at approximately $406,000. Institutional investors own 72.01% of the company’s stock.
Starbucks Corporation Company Profile
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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