Starbucks Corporation (SBUX) Downgraded by Vetr Inc. to Buy

Vetr lowered shares of Starbucks Corporation (NASDAQ:SBUX) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning. Vetr currently has $63.14 price objective on the coffee company’s stock.

A number of other research analysts also recently issued reports on the stock. OTR Global raised shares of Starbucks Corporation to a positive rating in a research report on Thursday, October 26th. Zacks Investment Research raised shares of Starbucks Corporation from a sell rating to a hold rating in a research report on Wednesday, September 6th. Bank of America Corporation reaffirmed a neutral rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Thursday, September 14th. Cowen and Company reaffirmed a buy rating and issued a $63.00 price objective on shares of Starbucks Corporation in a research report on Friday, September 1st. Finally, Morgan Stanley lifted their price objective on shares of Starbucks Corporation from $62.00 to $67.00 and gave the stock an overweight rating in a research report on Friday, November 10th. Twelve equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of Buy and an average target price of $63.31.

Starbucks Corporation (NASDAQ:SBUX) opened at $56.81 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a market cap of $81,880.00, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a 12-month low of $52.58 and a 12-month high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, November 15th. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s payout ratio is presently 60.91%.

In related news, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the sale, the insider now owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. In the last three months, insiders sold 443,884 shares of company stock valued at $25,041,780. 3.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Coastline Trust Co increased its holdings in Starbucks Corporation by 168.9% in the 3rd quarter. Coastline Trust Co now owns 9,265 shares of the coffee company’s stock worth $498,000 after acquiring an additional 5,820 shares in the last quarter. Daniel Devine & Co purchased a new stake in Starbucks Corporation in the 3rd quarter worth $1,591,000. Garde Capital Inc. increased its holdings in Starbucks Corporation by 59.1% in the 3rd quarter. Garde Capital Inc. now owns 37,045 shares of the coffee company’s stock worth $1,990,000 after acquiring an additional 13,754 shares in the last quarter. Gofen & Glossberg LLC IL increased its holdings in Starbucks Corporation by 1.5% in the 3rd quarter. Gofen & Glossberg LLC IL now owns 517,709 shares of the coffee company’s stock worth $27,806,000 after acquiring an additional 7,649 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in Starbucks Corporation by 51.9% in the 3rd quarter. Moors & Cabot Inc. now owns 43,458 shares of the coffee company’s stock worth $2,336,000 after acquiring an additional 14,839 shares in the last quarter. 71.49% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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