Starbucks Corporation (SBUX) Price Target Cut to $63.00

Starbucks Corporation (NASDAQ:SBUX) had its price objective reduced by Nomura from $67.00 to $63.00 in a report released on Friday. The brokerage currently has a “buy” rating on the coffee company’s stock. Nomura’s price objective points to a potential upside of 12.44% from the stock’s current price.

A number of other equities analysts have also recently issued reports on SBUX. Mizuho restated a “buy” rating and issued a $75.00 price objective on shares of Starbucks Corporation in a research note on Thursday, July 6th. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Cowen and Company restated an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 21st. Finally, Wedbush restated a “neutral” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Thirteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Starbucks Corporation currently has an average rating of “Buy” and a consensus price target of $63.02.

Starbucks Corporation (NASDAQ:SBUX) traded up $1.16 during trading hours on Friday, reaching $56.03. 28,729,036 shares of the company traded hands, compared to its average volume of 8,869,777. The firm has a market cap of $80,901.72, a PE ratio of 27.07, a P/E/G ratio of 1.39 and a beta of 0.72. Starbucks Corporation has a 1 year low of $50.84 and a 1 year high of $64.87. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.67.

Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 52.65%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue was down .2% on a year-over-year basis. research analysts forecast that Starbucks Corporation will post 2.32 EPS for the current fiscal year.

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In other Starbucks Corporation news, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in SBUX. Maple Capital Management Inc. boosted its position in shares of Starbucks Corporation by 99.4% in the first quarter. Maple Capital Management Inc. now owns 12,290 shares of the coffee company’s stock valued at $718,000 after acquiring an additional 6,125 shares during the period. Harbour Investment Management LLC bought a new stake in shares of Starbucks Corporation in the first quarter valued at about $5,161,000. Bank of New York Mellon Corp boosted its position in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after acquiring an additional 2,234,324 shares during the period. Baltimore Capital Management Inc. bought a new stake in shares of Starbucks Corporation in the first quarter valued at about $1,987,000. Finally, Ray Gerald L & Associates Ltd. boosted its position in shares of Starbucks Corporation by 3.0% in the first quarter. Ray Gerald L & Associates Ltd. now owns 46,367 shares of the coffee company’s stock valued at $2,707,000 after acquiring an additional 1,333 shares during the period. 70.87% of the stock is owned by institutional investors.

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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