Vetr downgraded shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research note released on Monday morning. The brokerage currently has $60.26 target price on the coffee company’s stock.
Several other research analysts have also recently commented on the stock. Tigress Financial started coverage on shares of Starbucks in a report on Wednesday, December 27th. They set a buy rating on the stock. Goldman Sachs Group cut shares of Starbucks from a conviction-buy rating to a buy rating and lowered their target price for the stock from $73.00 to $68.00 in a report on Friday, January 26th. William Blair reaffirmed an outperform rating on shares of Starbucks in a report on Friday, January 26th. Zacks Investment Research cut shares of Starbucks from a hold rating to a sell rating in a report on Friday, December 1st. Finally, UBS Group set a $64.00 target price on shares of Starbucks and gave the stock a buy rating in a report on Wednesday, November 15th. Thirteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $64.57.
Starbucks (SBUX) opened at $58.83 on Monday. The firm has a market cap of $82,690.00, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.64 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks has a fifty-two week low of $52.58 and a fifty-two week high of $64.87.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were given a $0.30 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.04%. Starbucks’s dividend payout ratio is currently 38.34%.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the sale, the insider now owns 331,829 shares in the company, valued at $18,920,889.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig Weatherup sold 59,838 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 247,664 shares of company stock worth $14,243,602 in the last 90 days. Company insiders own 3.48% of the company’s stock.
A number of institutional investors have recently modified their holdings of SBUX. Taylor Hoffman Wealth Management acquired a new position in shares of Starbucks during the fourth quarter worth $107,000. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Starbucks during the third quarter worth $111,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter worth $113,000. Jacobi Capital Management LLC lifted its holdings in shares of Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the period. Finally, Gradient Investments LLC acquired a new position in shares of Starbucks during the fourth quarter worth $117,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.
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Starbucks Company Profile
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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