Starbucks Corporation (SBUX) Lifted to Positive at OTR Global

OTR Global upgraded shares of Starbucks Corporation (NASDAQ:SBUX) to a positive rating in a research report released on Thursday morning, The Fly reports.

A number of other analysts have also recently issued reports on SBUX. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a buy rating in a report on Wednesday, June 28th. BMO Capital Markets cut Starbucks Corporation from an outperform rating to a market perform rating and boosted their target price for the stock from $54.52 to $64.00 in a report on Wednesday, August 9th. Wedbush reiterated a hold rating on shares of Starbucks Corporation in a report on Friday, July 28th. Zacks Investment Research upgraded Starbucks Corporation from a sell rating to a hold rating in a report on Tuesday, October 24th. Finally, BidaskClub upgraded Starbucks Corporation from a sell rating to a hold rating in a report on Tuesday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $64.24.

Starbucks Corporation (NASDAQ SBUX) traded down 0.05% on Thursday, hitting $54.88. 9,922,611 shares of the stock traded hands. The stock has a market cap of $79.24 billion, a price-to-earnings ratio of 27.70 and a beta of 0.78. The firm’s 50-day moving average price is $54.69 and its 200-day moving average price is $57.48. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Corporation will post $2.06 EPS for the current fiscal year.

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In related news, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were purchased at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jacobi Capital Management LLC increased its holdings in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC increased its holdings in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after purchasing an additional 46 shares during the period. Sharkey Howes & Javer increased its holdings in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after purchasing an additional 150 shares during the period. IHT Wealth Management LLC increased its holdings in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter valued at $122,000. 70.77% of the stock is currently owned by hedge funds and other institutional investors.

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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