Starbucks Corp. (NASDAQ:SBUX) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $60.97 target price on the coffee company’s stock. Vetr‘s target price would suggest a potential upside of 13.45% from the stock’s previous close.
A number of other research firms also recently commented on SBUX. Goldman Sachs Group Inc. upgraded Starbucks Corp. from a “buy” rating to a “conviction-buy” rating and set a $69.00 price objective for the company in a report on Tuesday, July 26th. Stifel Nicolaus reiterated a “hold” rating on shares of Starbucks Corp. in a report on Sunday, July 24th. Deutsche Bank AG set a $64.00 price target on Starbucks Corp. and gave the stock a “hold” rating in a report on Sunday, July 24th. Nomura restated a “buy” rating and issued a $70.00 price target on shares of Starbucks Corp. in a report on Monday, July 25th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $66.50.
Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 53.74 on Tuesday. The company has a 50-day moving average price of $55.77 and a 200 day moving average price of $56.96. The firm has a market capitalization of $78.82 billion, a price-to-earnings ratio of 30.19 and a beta of 0.80. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00.
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Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The business earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. Equities research analysts expect that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Thursday, August 4th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, August 2nd. Starbucks Corp.’s dividend payout ratio (DPR) is 44.69%.
In related news, Director Myron E. Ullman III sold 12,654 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the sale, the director now owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.38% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Farmers National Bank purchased a new stake in Starbucks Corp. during the second quarter valued at $101,000. Cascade Investment Advisors Inc. bought a new position in shares of Starbucks Corp. during the second quarter valued at approximately $107,000. Valley National Advisers Inc. increased its position in shares of Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock valued at $118,000 after buying an additional 6 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Starbucks Corp. during the second quarter valued at approximately $123,000. Finally, Proficio Capital Partners LLC increased its position in shares of Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock valued at $128,000 after buying an additional 109 shares during the last quarter. 68.27% of the stock is currently owned by institutional investors.
About Starbucks Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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