Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “equal weight” rating reiterated by Stephens in a research report issued on Sunday. They presently have a $58.00 target price on the coffee company’s stock. Stephens’ price target suggests a potential upside of 3.35% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on SBUX. Stifel Nicolaus set a $60.00 price objective on Starbucks Corporation and gave the stock a “hold” rating in a research note on Sunday, December 4th. BMO Capital Markets set a $62.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research report on Saturday. Piper Jaffray Companies set a $64.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research report on Saturday. Bank of America Corporation reaffirmed a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a research report on Friday, November 4th. Finally, Nomura reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks Corporation in a research report on Thursday, December 1st. Eight investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.42.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 4.00% on Friday, reaching $56.12. The company’s stock had a trading volume of 28,884,899 shares. The stock has a market cap of $81.68 billion, a PE ratio of 28.78 and a beta of 0.79. The firm has a 50 day moving average price of $57.56 and a 200-day moving average price of $55.87. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $61.79.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm earned $5.70 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Starbucks Corporation had a return on equity of 51.99% and a net margin of 13.30%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. Equities research analysts expect that Starbucks Corporation will post $2.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Thursday, February 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. Starbucks Corporation’s payout ratio is presently 51.28%.
In related news, insider Clifford Burrows sold 80,000 shares of Starbucks Corporation stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $58.88, for a total value of $4,710,400.00. Following the completion of the transaction, the insider now directly owns 248,517 shares in the company, valued at $14,632,680.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Culver sold 168,814 shares of Starbucks Corporation stock in a transaction on Monday, December 12th. The shares were sold at an average price of $58.65, for a total value of $9,900,941.10. Following the completion of the transaction, the insider now owns 478,446 shares of the company’s stock, valued at $28,060,857.90. The disclosure for this sale can be found here. Insiders own 3.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors raised its position in Starbucks Corporation 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 during the period. Ameriprise Financial Inc. increased its stake in shares of Starbucks Corporation 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 during the period. Vontobel Asset Management Inc. increased its stake in shares of Starbucks Corporation by 744.1% in the third quarter. Vontobel Asset Management Inc. now owns 3,517,590 shares of the coffee company’s stock worth $196,385,000 after buying an additional 3,100,871 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Starbucks Corporation during the fourth quarter worth about $172,717,000. Finally, Neuberger Berman Group LLC increased its stake in shares of Starbucks Corporation by 433.2% in the third quarter. Neuberger Berman Group LLC now owns 3,316,604 shares of the coffee company’s stock worth $179,561,000 after buying an additional 2,694,557 shares during the period. Hedge funds and other institutional investors own 68.52% of the company’s stock.
About Starbucks Corporation
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.