Mizuho lowered shares of Starbucks (NASDAQ:SBUX) from a buy rating to a neutral rating in a research report sent to investors on Thursday, February 1st, Marketbeat.com reports. The brokerage currently has $75.00 price objective on the coffee company’s stock, up from their prior price objective of $68.00. The analysts noted that the move was a valuation call.
SBUX has been the topic of a number of other reports. OTR Global raised shares of Starbucks to a positive rating in a research note on Thursday, October 26th. Morgan Stanley raised their price target on shares of Starbucks from $62.00 to $67.00 and gave the company an overweight rating in a research note on Friday, November 10th. Vetr lowered shares of Starbucks from a buy rating to a hold rating and set a $61.72 price target on the stock. in a research note on Monday, January 8th. Tigress Financial started coverage on shares of Starbucks in a research note on Wednesday, December 27th. They issued a buy rating on the stock. Finally, Cowen reaffirmed an outperform rating and issued a $62.00 price target (down from $63.00) on shares of Starbucks in a research note on Tuesday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $64.63.
Starbucks (NASDAQ SBUX) traded up $0.81 during mid-day trading on Thursday, hitting $54.58. 19,381,799 shares of the stock traded hands, compared to its average volume of 12,329,045. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks has a twelve month low of $52.58 and a twelve month high of $64.87. The stock has a market cap of $78,120.00, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.51 and a beta of 0.70.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. research analysts expect that Starbucks will post 2.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. Starbucks’s dividend payout ratio is currently 39.60%.
In other news, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the sale, the insider now owns 331,829 shares in the company, valued at approximately $18,920,889.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders have sold a total of 597,668 shares of company stock valued at $34,216,388 in the last 90 days. Insiders own 3.48% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SBUX. Taylor Hoffman Wealth Management acquired a new stake in Starbucks in the 4th quarter valued at approximately $107,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Starbucks in the 3rd quarter valued at approximately $111,000. Jacobi Capital Management LLC boosted its position in Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after buying an additional 129 shares during the period. Gradient Investments LLC purchased a new position in Starbucks in the 4th quarter valued at approximately $117,000. Finally, Valley National Advisers Inc. boosted its position in Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 71.92% of the company’s stock.
Starbucks Company Profile
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.
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