Vetr lowered shares of Starbucks (NASDAQ:SBUX) from a buy rating to a hold rating in a research report report published on Monday, January 8th. They currently have $61.72 target price on the coffee company’s stock.
A number of other analysts have also recently weighed in on the stock. OTR Global raised shares of Starbucks to a positive rating in a research report on Thursday, October 26th. Morgan Stanley boosted their price objective on shares of Starbucks from $62.00 to $67.00 and gave the stock an overweight rating in a report on Friday, November 10th. Bank of America reiterated a neutral rating and issued a $65.00 price objective on shares of Starbucks in a report on Thursday, September 14th. Tigress Financial assumed coverage on shares of Starbucks in a research note on Wednesday, December 27th. They issued a buy rating on the stock. Finally, Cowen restated an outperform rating and issued a $62.00 target price (down previously from $63.00) on shares of Starbucks in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $63.36.
Starbucks (SBUX) traded up $0.56 during mid-day trading on Monday, reaching $61.12. 2,070,605 shares of the company’s stock traded hands, compared to its average volume of 8,090,000. The stock has a market cap of $86,950.00, a PE ratio of 31.03, a P/E/G ratio of 1.64 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks has a 12-month low of $52.58 and a 12-month high of $64.87.
Starbucks (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 the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company 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 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. equities analysts anticipate that Starbucks will post 2.37 earnings per share for the current year.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock valued at $28,559,521 over the last three months. 3.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Starbucks in the third quarter worth $111,000. Jacobi Capital Management LLC increased its holdings in Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after buying an additional 129 shares during the last quarter. IHT Wealth Management LLC increased its holdings in Starbucks by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after buying an additional 57 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in Starbucks during the second quarter worth $128,000. Hedge funds and other institutional investors own 70.72% of the company’s stock.
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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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