Starbucks (NASDAQ:SBUX) had its price objective raised by Bank of America from $80.00 to $82.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have a neutral rating on the coffee company’s stock.
SBUX has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $73.00 to $78.00 and gave the company a neutral rating in a report on Wednesday, June 24th. UBS Group upped their price objective on shares of Starbucks from $77.00 to $81.00 and gave the company a neutral rating in a report on Wednesday. KeyCorp upped their price objective on shares of Starbucks from $80.00 to $82.00 and gave the company an overweight rating in a report on Wednesday, April 29th. Morgan Stanley upped their price objective on shares of Starbucks from $76.00 to $79.00 and gave the company an equal weight rating in a report on Wednesday. Finally, Citigroup cut their price target on shares of Starbucks from $89.00 to $87.00 and set a buy rating on the stock in a report on Monday, June 15th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $84.04.
Shares of Starbucks stock opened at $76.53 on Wednesday. Starbucks has a one year low of $50.02 and a one year high of $98.14. The company has a market capitalization of $89.59 billion, a PE ratio of 68.95, a P/E/G ratio of 5.87 and a beta of 0.79. The company has a 50-day simple moving average of $74.75 and a two-hundred day simple moving average of $77.29.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The firm had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was down 38.1% compared to the same quarter last year. On average, equities research analysts predict that Starbucks will post 0.95 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.41 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.64 annualized dividend and a yield of 2.14%. Starbucks’s dividend payout ratio is presently 57.95%.
In other news, Director Myron E. Ullman III sold 4,252 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $74.09, for a total transaction of $315,030.68. Following the transaction, the director now owns 22,752 shares in the company, valued at approximately $1,685,695.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jill Walker sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $82.64, for a total value of $165,280.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,504 shares of company stock worth $810,521 in the last quarter. Insiders own 0.41% of the company’s stock.
Several large investors have recently made changes to their positions in SBUX. Guggenheim Capital LLC lifted its position in shares of Starbucks by 13.7% during the 4th quarter. Guggenheim Capital LLC now owns 658,726 shares of the coffee company’s stock valued at $57,914,000 after buying an additional 79,557 shares in the last quarter. Sunbelt Securities Inc. raised its stake in Starbucks by 2.0% in the 4th quarter. Sunbelt Securities Inc. now owns 19,699 shares of the coffee company’s stock valued at $1,704,000 after purchasing an additional 395 shares during the last quarter. Macquarie Group Ltd. raised its stake in Starbucks by 4.4% in the 4th quarter. Macquarie Group Ltd. now owns 150,542 shares of the coffee company’s stock valued at $13,236,000 after purchasing an additional 6,390 shares during the last quarter. RMR Wealth Builders acquired a new position in Starbucks in the 4th quarter valued at $26,000. Finally, RNC Capital Management LLC acquired a new position in Starbucks in the 4th quarter valued at $1,402,000. Hedge funds and other institutional investors own 68.51% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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