Starbucks Corporation (NASDAQ:SBUX) had its price target reduced by equities researchers at UBS AG from $67.00 to $64.00 in a research report issued on Friday. The brokerage presently has a “buy” rating on the coffee company’s stock. UBS AG’s price target points to a potential upside of 14.22% from the stock’s current price.
Several other analysts have also recently weighed in on SBUX. Nomura dropped their price target on Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday. Credit Suisse Group dropped their price target on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday. Robert W. Baird dropped their price target on Starbucks Corporation from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets cut Starbucks Corporation from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $54.52 to $64.00 in a report on Wednesday, August 9th. Finally, Vetr cut Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $60.91 price target for the company. in a report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks Corporation presently has an average rating of “Buy” and an average price target of $63.02.
Starbucks Corporation (NASDAQ SBUX) traded up $1.16 on Friday, hitting $56.03. The stock had a trading volume of 28,729,036 shares, compared to its average volume of 8,869,777. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The firm has a market capitalization of $80,901.72, a PE ratio of 27.07, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.37.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. 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 return on equity of 52.65% and a net margin of 12.89%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the firm posted $0.56 earnings per share. The business’s revenue was down .2% on a year-over-year basis. analysts forecast that Starbucks Corporation will post 2.32 earnings per share for the current year.
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In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction dated 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 approximately $1,974,354.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Starbucks Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the period. State Street Corp lifted its stake in shares of Starbucks Corporation by 2.7% in the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares during the period. Capital World Investors lifted its stake in shares of Starbucks Corporation by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after purchasing an additional 895,432 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Starbucks Corporation by 7.8% in the 1st 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 purchasing an additional 2,234,324 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Starbucks Corporation by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after purchasing an additional 1,060,298 shares during the period. 70.87% of the stock is currently 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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