Starbucks Corporation (NASDAQ:SBUX) has been assigned a consensus rating of “Buy” from the thirty-four brokerages that are currently covering the firm, MarketBeat reports. Twelve research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $63.40.
Several research analysts have weighed in on the company. Credit Suisse Group cut their price target on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Wedbush reiterated a “neutral” rating and issued a $60.00 price target (down from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, October 9th. Finally, BidaskClub upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st.
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Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company earned $0.56 EPS. Starbucks Corporation’s revenue was down .2% on a year-over-year basis. analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio (DPR) is 60.91%.
In other news, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now owns 10,438 shares in the company, valued at approximately $594,444.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were 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 approximately $1,974,354.06. The disclosure for this sale can be found here. Insiders have sold a total of 443,884 shares of company stock valued at $25,041,780 in the last three months. Company insiders own 3.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Coastline Trust Co raised its holdings in shares of Starbucks Corporation by 168.9% during the 3rd quarter. Coastline Trust Co now owns 9,265 shares of the coffee company’s stock valued at $498,000 after purchasing an additional 5,820 shares in the last quarter. Daniel Devine & Co bought a new position in shares of Starbucks Corporation during the 3rd quarter valued at $1,591,000. Garde Capital Inc. raised its holdings in Starbucks Corporation by 59.1% in the 3rd quarter. Garde Capital Inc. now owns 37,045 shares of the coffee company’s stock worth $1,990,000 after acquiring an additional 13,754 shares during the period. Gofen & Glossberg LLC IL raised its holdings in Starbucks Corporation by 1.5% in the 3rd quarter. Gofen & Glossberg LLC IL now owns 517,709 shares of the coffee company’s stock worth $27,806,000 after acquiring an additional 7,649 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in Starbucks Corporation by 51.9% in the 3rd quarter. Moors & Cabot Inc. now owns 43,458 shares of the coffee company’s stock worth $2,336,000 after acquiring an additional 14,839 shares during the period. Institutional investors and hedge funds own 72.01% 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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