Starbucks (NASDAQ:SBUX) Hits New 52-Week High at $83.67

Starbucks Co. (NASDAQ:SBUX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $83.67 and last traded at $83.37, with a volume of 818808 shares trading hands. The stock had previously closed at $82.37.

SBUX has been the subject of several research reports. Piper Jaffray Companies lifted their target price on Starbucks from $70.00 to $77.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Mizuho set a $75.00 target price on Starbucks and gave the company a “buy” rating in a research note on Thursday, April 11th. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Stephens lifted their target price on Starbucks from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. lifted their target price on Starbucks from $70.00 to $81.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $74.37.

The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67. The firm has a market capitalization of $99.90 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.31 and a beta of 0.50.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 9th were issued a $0.36 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.73%. Starbucks’s dividend payout ratio (DPR) is 59.50%.

In other news, insider John Culver sold 63,937 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total value of $4,989,643.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $76.12, for a total value of $759,144.76. The disclosure for this sale can be found here. Insiders own 3.98% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lake Point Wealth Management bought a new stake in Starbucks during the fourth quarter worth about $25,000. Cowen Prime Services LLC purchased a new position in shares of Starbucks during the first quarter valued at about $26,000. Veritas Investment Management LLP purchased a new position in shares of Starbucks during the fourth quarter valued at about $28,000. Paragon Capital Management LLC purchased a new position in shares of Starbucks during the first quarter valued at about $29,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Starbucks during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 71.67% of the company’s stock.

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About Starbucks (NASDAQ:SBUX)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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