Brokerages Set Starbucks Co. (SBUX) PT at $63.36

Shares of Starbucks Co. (NASDAQ:SBUX) have been assigned an average rating of “Buy” from the thirty-three brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, twenty have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $63.36.

Several equities research analysts have recently issued reports on SBUX shares. UBS reduced their target price on Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Cowen reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks in a report on Friday, September 1st. Mizuho set a $75.00 target price on Starbucks and gave the stock a “buy” rating in a report on Wednesday, November 1st. Morgan Stanley lifted their target price on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target for the company. in a research report on Thursday, November 2nd.

Shares of Starbucks (NASDAQ:SBUX) traded down $1.41 during mid-day trading on Thursday, hitting $58.29. The stock had a trading volume of 20,087,322 shares, compared to its average volume of 8,319,222. Starbucks has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $82,935.02, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. research analysts forecast that Starbucks will post 2.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s payout ratio is 60.91%.

In other Starbucks news, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Appropriate Balance Financial Services Inc. boosted its holdings in shares of Starbucks by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after purchasing an additional 13 shares during the period. Jacobi Capital Management LLC boosted its holdings in shares of Starbucks by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after purchasing an additional 50 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Starbucks by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Starbucks in the third quarter valued at approximately $111,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 71.07% of the company’s stock.

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About Starbucks

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.

Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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