Starbucks Corporation (SBUX) Stock Rating Upgraded by Deutsche Bank AG

Starbucks Corporation (NASDAQ:SBUX) was upgraded by equities research analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, May 15th, MarketBeat.com reports. The brokerage presently has a $69.00 price objective on the coffee company’s stock, up from their previous price objective of $59.00. Deutsche Bank AG’s target price indicates a potential upside of 14.73% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday, January 16th. Jefferies Group LLC restated a “buy” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research note on Friday, May 12th. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.53 price target on the stock in a research note on Monday, March 6th. Wells Fargo & Company reiterated an “outperform” rating and set a $65.00 target price on shares of Starbucks Corporation in a research report on Monday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. Starbucks Corporation presently has an average rating of “Buy” and an average target price of $65.15.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

Starbucks Corporation (NASDAQ:SBUX) traded up 0.08% during midday trading on Monday, reaching $60.14. The company’s stock had a trading volume of 11,522,438 shares. The stock’s 50 day moving average is $61.48 and its 200 day moving average is $58.34. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The stock has a market cap of $87.09 billion, a P/E ratio of 29.74 and a beta of 0.76.

Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. Starbucks Corporation had a return on equity of 51.65% and a net margin of 13.47%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period last year, the business posted $0.39 EPS. The company’s revenue was up 7.3% on a year-over-year basis. Analysts anticipate that Starbucks Corporation will post $2.10 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Thursday, May 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Tuesday, May 9th. Starbucks Corporation’s payout ratio is currently 49.75%.

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In other Starbucks Corporation news, Director Myron E. Ullman III sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total transaction of $1,208,600.00. Following the sale, the director now owns 34,000 shares in the company, valued at $2,054,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the sale, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. Insiders have sold 144,826 shares of company stock worth $8,642,454 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Clearbridge Investments LLC boosted its stake in shares of Starbucks Corporation by 45.2% in the first quarter. Clearbridge Investments LLC now owns 160,128 shares of the coffee company’s stock worth $9,350,000 after buying an additional 49,860 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its stake in shares of Starbucks Corporation by 62.6% in the first quarter. Laurel Wealth Advisors Inc. now owns 14,118 shares of the coffee company’s stock worth $824,000 after buying an additional 5,437 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Starbucks Corporation by 5.4% in the first quarter. Perigon Wealth Management LLC now owns 40,101 shares of the coffee company’s stock worth $2,342,000 after buying an additional 2,050 shares during the last quarter. Sowell Financial Services LLC boosted its stake in shares of Starbucks Corporation by 8.7% in the first quarter. Sowell Financial Services LLC now owns 54,490 shares of the coffee company’s stock worth $3,372,000 after buying an additional 4,371 shares during the last quarter. Finally, Piedmont Investment Advisors LLC boosted its stake in shares of Starbucks Corporation by 1.1% in the first quarter. Piedmont Investment Advisors LLC now owns 425,414 shares of the coffee company’s stock worth $24,840,000 after buying an additional 4,815 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.

Starbucks Corporation 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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