Starbucks Co. (NASDAQ:SBUX) has been assigned a consensus rating of “Buy” from the thirty-two research firms that are covering the firm. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $64.30.
Several equities analysts recently weighed in on SBUX shares. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, January 10th. BTIG Research reissued a “buy” rating and issued a $64.00 target price on shares of Starbucks in a research note on Friday, January 27th. Sanford C. Bernstein set a $65.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Friday, January 27th. Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Starbucks in a research note on Saturday, January 28th. Finally, BMO Capital Markets set a $62.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Saturday, January 28th.
Starbucks (NASDAQ:SBUX) traded up 0.20% during mid-day trading on Monday, reaching $60.95. 6,443,309 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $58.58 and a 200 day moving average price of $56.81. Starbucks has a 52-week low of $50.84 and a 52-week high of $61.94. The company has a market cap of $88.71 billion, a PE ratio of 30.14 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Starbucks had a net margin of 13.30% and a return on equity of 51.45%. The business earned $5.29 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the business earned $0.39 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Equities analysts predict that Starbucks will post $2.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, May 9th. Starbucks’s dividend payout ratio is presently 51.28%.
In other Starbucks news, Director Myron E. Ullman III sold 20,000 shares of Starbucks stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total value of $1,208,600.00. Following the transaction, the director now owns 34,000 shares in the company, valued at $2,054,620. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Starbucks during the fourth quarter worth about $680,375,000. Capital World Investors boosted its position in Starbucks by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock worth $1,878,530,000 after buying an additional 8,071,610 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Starbucks by 136.4% in the third quarter. Ameriprise Financial Inc. now owns 10,310,495 shares of the coffee company’s stock worth $558,015,000 after buying an additional 5,949,819 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Starbucks during the fourth quarter worth about $172,717,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Starbucks during the third quarter worth about $127,161,000. Hedge funds and other institutional investors own 68.49% of the company’s stock.
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.