Investors bought shares of Starbucks Corporation (NASDAQ:SBUX) on weakness during trading on Tuesday. $146.80 million flowed into the stock on the tick-up and $83.01 million flowed out of the stock on the tick-down, for a money net flow of $63.79 million into the stock. Of all companies tracked, Starbucks Corporation had the 9th highest net in-flow for the day. Starbucks Corporation traded down ($0.86) for the day and closed at $54.52
Several research analysts recently issued reports on the stock. Vetr lowered shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price on the stock. in a research note on Thursday, May 25th. Mizuho initiated coverage on shares of Starbucks Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $75.00 price objective on the stock. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research note on Monday, June 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research note on Tuesday, June 13th. Finally, OTR Global downgraded shares of Starbucks Corporation to a “positive” rating in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. Starbucks Corporation currently has an average rating of “Buy” and an average target price of $64.93.
The stock has a 50-day moving average price of $56.32 and a 200 day moving average price of $58.13. The stock has a market cap of $76.09 billion, a P/E ratio of 26.60 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, equities analysts expect that Starbucks Corporation will post $2.07 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of SBUX. Gradient Investments LLC boosted its stake in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock valued at $109,000 after buying an additional 718 shares during the last quarter. Jacobi Capital Management LLC boosted its stake in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Sharkey Howes & Javer boosted its stake in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC boosted its stake in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Starbucks Corporation during the first quarter valued at approximately $122,000. Institutional investors and hedge funds own 69.98% of the company’s stock.
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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.
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