Starbucks Corporation (NASDAQ:SBUX) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday, August 1st.
SBUX has been the topic of several other reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Starbucks Corporation in a report on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, May 12th. UBS AG set a $67.00 price objective on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Starbucks Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, Deutsche Bank AG reissued a “hold” rating and set a $59.00 price objective on shares of Starbucks Corporation in a report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $64.93.
Starbucks Corporation (SBUX) opened at 52.70 on Tuesday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company’s 50-day moving average price is $56.32 and its 200-day moving average price is $58.13. The stock has a market cap of $76.09 billion, a P/E ratio of 26.60 and a beta of 0.80.
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, hitting the Thomson Reuters’ 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 period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts forecast that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
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In other news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the sale, the director now owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Independent Advisor Alliance bought a new position in shares of Starbucks Corporation during the fourth quarter valued at approximately $721,000. IFM Investors Pty Ltd bought a new position in shares of Starbucks Corporation during the fourth quarter valued at approximately $1,035,000. Thrivent Financial for Lutherans raised its position in shares of Starbucks Corporation by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,050,200 shares of the coffee company’s stock valued at $113,828,000 after buying an additional 13,490 shares in the last quarter. PagnatoKarp Partners LLC bought a new position in shares of Starbucks Corporation during the fourth quarter valued at approximately $427,000. Finally, AE Wealth Management LLC bought a new position in shares of Starbucks Corporation during the fourth quarter valued at approximately $388,000. Hedge funds and other institutional investors own 69.98% of the company’s stock.
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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