Buckingham Research reiterated their neutral rating on shares of Starbucks Corporation (NASDAQ:SBUX) in a research report released on Tuesday. They currently have a $59.00 price target on the coffee company’s stock.
SBUX has been the subject of a number of other research reports. RBC Capital Markets restated an outperform rating and set a $64.00 price objective on shares of Starbucks Corporation in a research note on Monday, November 7th. Stifel Nicolaus set a $60.00 price objective on Starbucks Corporation and gave the company a hold rating in a research note on Sunday, December 4th. BTIG Research set a $64.00 price objective on Starbucks Corporation and gave the company a buy rating in a research note on Saturday, December 10th. Vetr lowered Starbucks Corporation from a strong-buy rating to a buy rating and set a $62.13 price objective for the company. in a research note on Wednesday, January 4th. Finally, Piper Jaffray Companies set a $64.00 price objective on Starbucks Corporation and gave the company a buy rating in a research note on Tuesday, November 29th. Eight investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the stock. Starbucks Corporation currently has an average rating of Buy and an average price target of $63.93.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 3.3478% during midday trading on Tuesday, reaching $56.5029. The company’s stock had a trading volume of 14,305,830 shares. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $61.79. The firm has a market capitalization of $82.23 billion, a PE ratio of 29.7384 and a beta of 0.79. The company’s 50-day moving average price is $57.64 and its 200 day moving average price is $55.85.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, January 26th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Starbucks Corporation had a return on equity of 49.88% and a net margin of 13.22%. The business earned $5.70 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Starbucks Corporation will post $2.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, February 9th will be given 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 1.71%. Starbucks Corporation’s dividend payout ratio is currently 52.63%.
In related news, insider John Culver sold 168,814 shares of the business’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $58.65, for a total transaction 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 approximately $28,060,857.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clifford Burrows sold 80,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 248,517 shares of the company’s stock, valued at approximately $14,632,680.96. The disclosure for this sale can be found here. 3.38% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of SBUX. Mission Wealth Management LLC boosted its position in Starbucks Corporation by 15.8% in the fourth quarter. Mission Wealth Management LLC now owns 8,419 shares of the coffee company’s stock valued at $467,000 after buying an additional 1,147 shares in the last quarter. Norway Savings Bank acquired a new position in Starbucks Corporation during the fourth quarter valued at $356,000. Cascade Investment Advisors Inc. acquired a new position in Starbucks Corporation during the fourth quarter valued at $131,000. Massey Quick & Co. LLC acquired a new position in Starbucks Corporation during the fourth quarter valued at $426,000. Finally, Wrapmanager Inc. boosted its position in Starbucks Corporation by 2.8% in the fourth quarter. Wrapmanager Inc. now owns 9,705 shares of the coffee company’s stock valued at $539,000 after buying an additional 260 shares in the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.
Starbucks Corporation Company Profile
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.