UBS Group set a $64.00 target price on Starbucks (NASDAQ:SBUX) in a research report sent to investors on Friday morning, www.tipranks.com reports. The firm currently has a buy rating on the coffee company’s stock.
A number of other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Starbucks from a buy rating to a hold rating in a report on Tuesday, March 6th. BidaskClub upgraded shares of Starbucks from a sell rating to a hold rating in a report on Thursday, March 1st. Vetr lowered shares of Starbucks from a strong-buy rating to a buy rating and set a $62.03 price target on the stock. in a report on Wednesday, February 14th. Mizuho lowered shares of Starbucks from a buy rating to a neutral rating and lifted their price target for the stock from $68.00 to $75.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Finally, Sanford C. Bernstein lowered shares of Starbucks from an outperform rating to a market perform rating in a report on Monday, January 29th. Thirteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $64.57.
Starbucks (NASDAQ:SBUX) opened at $59.40 on Friday. The company has a market cap of $83,490.00, a price-to-earnings ratio of 18.98, a PEG ratio of 1.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks has a fifty-two week low of $52.58 and a fifty-two week high of $64.87.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s dividend payout ratio (DPR) is currently 38.34%.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the sale, the director now directly owns 39,000 shares of the company’s stock, valued at $2,126,280. The disclosure for this sale can be found here. Insiders own 3.48% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC increased its position in shares of Starbucks by 3,076.5% during the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after acquiring an additional 13,452,551 shares in the last quarter. Parnassus Investments CA bought a new stake in shares of Starbucks during the third quarter worth about $498,863,000. Magellan Asset Management Ltd increased its position in shares of Starbucks by 18.1% during the fourth quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock worth $1,775,321,000 after acquiring an additional 4,744,675 shares in the last quarter. Capital International Investors increased its position in shares of Starbucks by 28.3% during the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after acquiring an additional 4,696,452 shares in the last quarter. Finally, Harding Loevner LP bought a new stake in shares of Starbucks during the third quarter worth about $128,044,000. 73.63% of the stock is owned by hedge funds and other institutional investors.
Starbucks 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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