Starbucks Corporation (SBUX) Rating Increased to Strong-Buy at Vetr Inc.

Vetr upgraded shares of Starbucks Corporation (NASDAQ:SBUX) from a buy rating to a strong-buy rating in a report released on Tuesday morning. The brokerage currently has $64.12 price target on the coffee company’s stock.

A number of other analysts have also issued reports on SBUX. BMO Capital Markets lowered shares of Starbucks Corporation from an outperform rating to a market perform rating and increased their price target for the stock from $54.52 to $64.00 in a research report on Wednesday, August 9th. Robert W. Baird reduced their price target on shares of Starbucks Corporation from $70.00 to $66.00 and set an outperform rating for the company in a research report on Friday, November 3rd. Wedbush reissued a hold rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Credit Suisse Group reduced their price target on shares of Starbucks Corporation from $56.00 to $54.00 and set a neutral rating for the company in a research report on Friday, November 3rd. Finally, UBS AG reduced their price target on shares of Starbucks Corporation from $67.00 to $64.00 and set a buy rating for the company in a research report on Friday, November 3rd. Twelve equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $63.31.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $56.93 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 52 week low of $52.58 and a 52 week high of $64.87. The company has a market cap of $82,650.00, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72.

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

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be given a $0.30 dividend. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is 60.91%.

In related news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 443,884 shares of company stock valued at $25,041,780. 3.40% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Jacobi Capital Management LLC lifted its holdings in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC lifted its holdings in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares during the period. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Starbucks Corporation during the third quarter valued at $111,000. Sharkey Howes & Javer lifted its holdings in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares during the period. Finally, IHT Wealth Management LLC lifted its holdings in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares during the period. 72.01% of the stock is owned by hedge funds and other 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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