BMO Capital Markets reaffirmed their outperform rating on shares of Starbucks Corporation (NASDAQ:SBUX) in a research note published on Friday morning. BMO Capital Markets currently has a $64.00 price objective on the coffee company’s stock, down from their previous price objective of $67.00.
SBUX has been the topic of a number of other research reports. Deutsche Bank AG reissued a hold rating and issued a $59.00 target price on shares of Starbucks Corporation in a report on Tuesday, April 11th. Wedbush reissued a neutral rating and issued a $60.00 target price (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Stifel Nicolaus raised Starbucks Corporation from a hold rating to a buy rating and boosted their target price for the company from $60.00 to $67.00 in a report on Wednesday, April 19th. They noted that the move was a valuation call. Vetr raised Starbucks Corporation from a hold rating to a buy rating and set a $65.47 target price on the stock in a report on Thursday, June 8th. Finally, Zacks Investment Research raised Starbucks Corporation from a hold rating to a buy rating and set a $64.00 target price on the stock in a report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the stock. Starbucks Corporation presently has an average rating of Buy and an average target price of $64.93.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 53.01% and a net margin of 12.93%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share.
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The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. Starbucks Corporation’s payout ratio is 50.76%.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the sale, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total value of $1,208,600.00. Following the sale, the director now owns 34,000 shares in the company, valued at $2,054,620. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,826 shares of company stock worth $8,642,454. 3.40% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Cape Cod Five Cents Savings Bank increased its stake in Starbucks Corporation by 16.9% in the second quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock worth $1,861,000 after buying an additional 4,616 shares during the last quarter. Israel Discount Bank of New York GFN bought a new stake in shares of Starbucks Corporation during the fourth quarter valued at about $694,000. Regent Investment Management LLC bought a new stake in shares of Starbucks Corporation during the first quarter valued at about $256,000. Baystate Wealth Management LLC increased its stake in shares of Starbucks Corporation by 46.8% in the first quarter. Baystate Wealth Management LLC now owns 3,802 shares of the coffee company’s stock valued at $219,000 after buying an additional 1,212 shares in the last quarter. Finally, Girard Partners LTD. increased its stake in shares of Starbucks Corporation by 23.7% in the first quarter. Girard Partners LTD. now owns 53,820 shares of the coffee company’s stock valued at $3,143,000 after buying an additional 10,311 shares in the last quarter. Institutional investors own 69.59% of the company’s stock.
About Starbucks Corporation
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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