Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “outperform” rating reiterated by equities research analysts at Cowen and Company in a research report issued on Tuesday. They currently have a $62.00 price objective on the coffee company’s stock, down from their prior price objective of $63.00. Cowen and Company’s price objective suggests a potential upside of 11.43% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Wednesday, June 28th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. BTIG Research restated a “buy” rating and set a $64.00 price target on shares of Starbucks Corporation in a report on Sunday, July 30th. Instinet restated a “buy” rating and set a $67.00 price target (down previously from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Stephens restated an “equal weight” rating and set a $52.00 price target (down previously from $58.00) on shares of Starbucks Corporation in a report on Friday, September 29th. They noted that the move was a valuation call. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $64.24.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at 55.64 on Tuesday. The firm has a market cap of $80.34 billion, a price-to-earnings ratio of 28.09 and a beta of 0.78. The company’s 50-day moving average is $54.52 and its 200-day moving average is $57.75. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.
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In related news, Director Jorgen Vig Knudstorp bought 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at $995,400. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Appropriate Balance Financial Services Inc. raised its stake in shares of Starbucks Corporation by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after buying an additional 13 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Starbucks Corporation by 2.7% in the 1st 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 in the last quarter. Gradient Investments LLC raised its stake in shares of Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer raised its stake in shares of Starbucks Corporation by 8.5% in the 2nd 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 in the last quarter. Finally, IHT Wealth Management LLC raised its stake in shares of Starbucks Corporation by 10.2% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 70.82% 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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