Investors Buy Starbucks Corporation (SBUX) on Weakness

Traders bought shares of Starbucks Corporation (NASDAQ:SBUX) on weakness during trading on Monday. $84.21 million flowed into the stock on the tick-up and $57.83 million flowed out of the stock on the tick-down, for a money net flow of $26.38 million into the stock. Of all stocks tracked, Starbucks Corporation had the 21st highest net in-flow for the day. Starbucks Corporation traded down ($0.81) for the day and closed at $54.91

SBUX has been the subject of a number of recent analyst reports. Piper Jaffray Companies set a $70.00 price target on Starbucks Corporation and gave the company a “buy” rating in a research report on Wednesday, October 11th. Cowen and Company restated an “outperform” rating and issued a $62.00 price target (down previously from $63.00) on shares of Starbucks Corporation in a research note on Tuesday, October 10th. Deutsche Bank AG restated a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note on Monday, October 9th. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BMO Capital Markets restated a “hold” rating on shares of Starbucks Corporation in a research note on Thursday, October 5th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $64.24.

The company has a market cap of $78.71 billion, a PE ratio of 27.52 and a beta of 0.78. The company has a 50 day moving average price of $54.63 and a 200-day moving average price of $57.73.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting 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 company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts forecast that Starbucks Corporation will post $2.06 EPS for the current year.

In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred 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 directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SBUX. Magellan Asset Management Ltd grew its holdings in Starbucks Corporation by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Starbucks Corporation by 3,076.5% in the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after acquiring an additional 13,452,551 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after acquiring an additional 3,511,080 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Starbucks Corporation by 539.2% in the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after acquiring an additional 3,305,700 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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

SBUX has been the subject of a number of recent analyst reports. Piper Jaffray Companies set a $70.00 price target on Starbucks Corporation and gave the company a “buy” rating in a research report on Wednesday, October 11th. Cowen and Company restated an “outperform” rating and issued a $62.00 price target (down previously from $63.00) on shares of Starbucks Corporation in a research note on Tuesday, October 10th. Deutsche Bank AG restated a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note on Monday, October 9th. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BMO Capital Markets restated a “hold” rating on shares of Starbucks Corporation in a research note on Thursday, October 5th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $64.24.

The company has a market cap of $78.71 billion, a PE ratio of 27.52 and a beta of 0.78. The company has a 50 day moving average price of $54.63 and a 200-day moving average price of $57.73.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting 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 company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts forecast that Starbucks Corporation will post $2.06 EPS for the current year.

In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred 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 directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SBUX. Magellan Asset Management Ltd grew its holdings in Starbucks Corporation by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Starbucks Corporation by 3,076.5% in the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after acquiring an additional 13,452,551 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after acquiring an additional 3,511,080 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Starbucks Corporation by 539.2% in the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after acquiring an additional 3,305,700 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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 worth $1,796,675,000 after acquiring an additional 2,234,324 shares during the last quarter. Institutional investors own 70.77% of the company’s stock.

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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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