Starbucks (NASDAQ:SBUX) has been assigned a consensus recommendation of “Buy” from the thirty-three research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $64.21.
SBUX has been the topic of several analyst reports. Oppenheimer reiterated a “buy” rating and issued a $66.00 price objective on shares of Starbucks in a research note on Friday, January 26th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $70.00 price objective on shares of Starbucks in a report on Friday, January 26th. Deutsche Bank reiterated a “buy” rating and set a $63.00 target price on shares of Starbucks in a research note on Friday, January 26th. BTIG Research reiterated a “buy” rating and set a $64.00 target price on shares of Starbucks in a research note on Friday, January 26th. Finally, Goldman Sachs downgraded shares of Starbucks from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the company from $73.00 to $68.00 in a research report on Friday, January 26th.
Shares of SBUX stock traded down $0.04 during trading hours on Friday, reaching $57.16. The company had a trading volume of 7,786,028 shares, compared to its average volume of 8,175,411. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.09 and a quick ratio of 0.83. The firm has a market capitalization of $78.88 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 1.64 and a beta of 0.63. Starbucks has a 12-month low of $52.58 and a 12-month high of $64.87.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, May 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Wednesday, May 9th. Starbucks’s dividend payout ratio (DPR) is currently 58.25%.
Starbucks announced that its board has authorized a stock repurchase plan on Thursday, April 26th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the coffee company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the sale, the director now owns 26,500 shares in the company, valued at approximately $1,592,650. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Bedel Financial Consulting Inc. bought a new position in Starbucks in the first quarter valued at approximately $104,000. Taylor Hoffman Wealth Management acquired a new position in Starbucks during the fourth quarter worth $107,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in Starbucks during the third quarter worth $111,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter valued at $113,000. Finally, Gradient Investments LLC acquired a new position in shares of Starbucks in the fourth quarter valued at $117,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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