Starbucks (NASDAQ:SBUX) had its price target dropped by equities researchers at Sanford C. Bernstein from $64.00 to $58.00 in a research note issued on Tuesday. The firm currently has a “market perform” rating on the coffee company’s stock. Sanford C. Bernstein’s target price points to a potential upside of 14.85% from the company’s current price.
SBUX has been the subject of several other reports. Wedbush cut their price objective on shares of Starbucks from $58.00 to $57.00 and set a “neutral” rating for the company in a report on Wednesday, June 20th. Morgan Stanley downgraded shares of Starbucks from an “overweight” rating to an “equal weight” rating and set a $67.00 price objective for the company. in a report on Wednesday, June 20th. Telsey Advisory Group downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $70.00 to $60.00 in a report on Wednesday, June 20th. UBS Group set a $66.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a report on Monday, May 21st. Finally, BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a report on Friday, March 30th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. Starbucks currently has an average rating of “Hold” and a consensus target price of $61.44.
Starbucks traded up $0.12, hitting $50.50, on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 166,961 shares, compared to its average volume of 14,105,070. The company has a market cap of $69.91 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.51 and a beta of 0.61. Starbucks has a 12 month low of $50.11 and a 12 month high of $61.94. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 1.31.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, April 26th. The coffee company reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $6.03 billion during the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. Starbucks’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.45 EPS. research analysts forecast that Starbucks will post 2.4 earnings per share for the current fiscal year.
Starbucks announced that its board has authorized a stock buyback plan on Thursday, April 26th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the coffee company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several institutional investors have recently bought and sold shares of SBUX. Bedel Financial Consulting Inc. purchased a new position in shares of Starbucks in the first quarter valued at about $104,000. Taylor Hoffman Wealth Management purchased a new position in Starbucks in the fourth quarter worth about $107,000. Prime Capital Investment Advisors LLC purchased a new position in Starbucks in the fourth quarter worth about $113,000. Gradient Investments LLC purchased a new position in Starbucks in the fourth quarter worth about $117,000. Finally, Transamerica Financial Advisors Inc. purchased a new position in Starbucks in the first quarter worth about $118,000. Hedge funds and other institutional investors own 72.05% of the company’s stock.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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