Starbucks Corp. (SBUX) Stock Rating Reaffirmed by RBC Capital Markets
Starbucks Corp. (NASDAQ:SBUX)‘s stock had its “outperform” rating restated by stock analysts at RBC Capital Markets in a research note issued on Tuesday. They presently have a $68.00 target price on the coffee company’s stock. RBC Capital Markets’ price objective indicates a potential upside of 25.97% from the stock’s current price.
Other analysts have also issued research reports about the company. Robert W. Baird reiterated an “outperform” rating on shares of Starbucks Corp. in a report on Thursday, September 8th. BTIG Research set a $64.00 target price on Starbucks Corp. and gave the stock a “buy” rating in a report on Monday. Jefferies Group reiterated a “buy” rating and set a $65.00 target price on shares of Starbucks Corp. in a report on Wednesday, August 3rd. Vetr upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 target price on the stock in a report on Monday, August 22nd. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Starbucks Corp. in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $66.53.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 1.33% during mid-day trading on Tuesday, hitting $53.98. The company’s stock had a trading volume of 10,049,752 shares. The company has a market cap of $79.17 billion, a price-to-earnings ratio of 30.33 and a beta of 0.80. Starbucks Corp. has a 1-year low of $52.63 and a 1-year high of $64.00. The company has a 50-day moving average of $56.24 and a 200 day moving average of $57.07.
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Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. On average, analysts expect that Starbucks Corp. will post $1.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Thursday, August 4th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. Starbucks Corp.’s payout ratio is currently 44.69%.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the completion of the sale, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.38% of the company’s stock.
A number of hedge funds have recently modified their holdings of SBUX. Valley National Advisers Inc. increased its stake 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 in the last quarter. Advisory Services Network LLC increased its stake in shares of Starbucks Corp. by 0.3% in the second quarter. Advisory Services Network LLC now owns 4,339 shares of the coffee company’s stock valued at $248,000 after buying an additional 13 shares in the last quarter. Autus Asset Management LLC increased its stake in shares of Starbucks Corp. by 0.9% in the second quarter. Autus Asset Management LLC now owns 4,699 shares of the coffee company’s stock valued at $269,000 after buying an additional 40 shares in the last quarter. Roberts Glore & Co. Inc. IL increased its stake in shares of Starbucks Corp. by 0.9% in the second quarter. Roberts Glore & Co. Inc. IL now owns 5,325 shares of the coffee company’s stock valued at $304,000 after buying an additional 50 shares in the last quarter. Finally, Mirador Capital Partners LP increased its stake in shares of Starbucks Corp. by 0.9% in the second quarter. Mirador Capital Partners LP now owns 7,617 shares of the coffee company’s stock valued at $426,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.27% of the company’s stock.
Starbucks Corp. 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.
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