Today: Today, Starbucks Corp. (SBUX) Lowered by Vetr Inc. to Buy

Today, Starbucks Corp. (SBUX) Lowered by Vetr Inc. to Buy

Starbucks Corp. (NASDAQ:SBUX) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Tuesday. They currently have a $62.81 price objective on the coffee company’s stock. Vetr‘s price target indicates a potential upside of 9.06% from the stock’s previous close.

Several other research firms have also commented on SBUX. Goldman Sachs Group Inc. raised Starbucks Corp. from a “buy” rating to a “conviction-buy” rating and set a $69.00 price objective on the stock in a research report on Tuesday, July 26th. RBC Capital Markets reissued an “outperform” rating and issued a $68.00 price objective on shares of Starbucks Corp. in a research report on Monday, July 25th. Nomura reissued a “buy” rating and issued a $70.00 price objective on shares of Starbucks Corp. in a research report on Monday, July 25th. Jefferies Group reissued a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corp. in a research report on Wednesday, August 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Starbucks Corp. in a research report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $63.72.

Starbucks Corp. (NASDAQ:SBUX) remained flat at $57.59 during mid-day trading on Tuesday. Starbucks Corp. has a one year low of $50.84 and a one year high of $62.54. The company has a market cap of $83.82 billion, a P/E ratio of 30.31 and a beta of 0.77. The stock has a 50 day moving average price of $53.91 and a 200 day moving average price of $55.23.

Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the company posted $0.43 earnings per share. The firm’s revenue was up 16.2% compared to the same quarter last year. Equities analysts forecast that Starbucks Corp. will post $2.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.74%. This is a boost from Starbucks Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, November 15th. Starbucks Corp.’s payout ratio is presently 52.63%.

A number of institutional investors have recently bought and sold shares of the company. Seven Eight Capital LLC boosted its position in Starbucks Corp. by 817.7% in the first quarter. Seven Eight Capital LLC now owns 23,456 shares of the coffee company’s stock valued at $1,400,000 after buying an additional 20,900 shares during the last quarter. Squarepoint Ops LLC boosted its position in Starbucks Corp. by 6.1% in the first quarter. Squarepoint Ops LLC now owns 43,420 shares of the coffee company’s stock valued at $2,592,000 after buying an additional 2,486 shares in the last quarter. AIMZ Investment Advisors LLC boosted its position in Starbucks Corp. by 4.3% in the first quarter. AIMZ Investment Advisors LLC now owns 6,185 shares of the coffee company’s stock valued at $369,000 after buying an additional 257 shares in the last quarter. First Republic Investment Management Inc. boosted its position in Starbucks Corp. by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 1,438,991 shares of the coffee company’s stock valued at $85,907,000 after buying an additional 66,883 shares in the last quarter. Finally, Cullinan Associates Inc. boosted its position in Starbucks Corp. by 0.9% in the first quarter. Cullinan Associates Inc. now owns 189,595 shares of the coffee company’s stock valued at $11,319,000 after buying an additional 1,710 shares in the last quarter. Hedge funds and other institutional investors own 69.08% of the company’s stock.

Starbucks Corp. Company Profile

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

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