Starbucks Corporation (NASDAQ:SBUX) Upgraded to Positive at OTR Global

Starbucks Corporation (NASDAQ:SBUX) was upgraded by OTR Global to a “positive” rating in a report issued on Thursday, October 26th, The Fly reports.

SBUX has been the topic of several other research reports. Cowen and Company reissued a “buy” rating and issued a $63.00 price target on shares of Starbucks Corporation in a report on Friday, September 1st. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Mizuho reissued a “buy” rating and set a $75.00 price objective on shares of Starbucks Corporation in a report on Friday, September 29th. UBS AG set a $67.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Jefferies Group LLC restated an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a research report on Friday, July 28th. Twelve investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks Corporation has a consensus rating of “Buy” and an average price target of $63.31.

Starbucks Corporation (SBUX) opened at $57.04 on Thursday. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a market cap of $81,658.46, a P/E ratio of 27.56, a P/E/G ratio of 1.56 and a beta of 0.72. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results 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 net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. equities analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current fiscal year.

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In related news, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction dated 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 owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. Insiders sold 150,708 shares of company stock valued at $8,322,192 in the last 90 days. Company insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jacobi Capital Management LLC lifted its holdings in shares of Starbucks Corporation by 2.7% during the 1st 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 last quarter. Gradient Investments LLC grew its position in Starbucks Corporation by 2.5% during the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the period. Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Starbucks Corporation during the 3rd quarter valued at about $111,000. Sharkey Howes & Javer grew its position in shares of Starbucks Corporation by 8.5% during the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares during the period. Finally, IHT Wealth Management LLC grew its position in shares of Starbucks Corporation by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares during the period. 72.01% of the stock is currently owned by institutional investors and hedge funds.

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.

The Fly

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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