Starbucks Corporation (SBUX) Stock Rating Reaffirmed by Wedbush
Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “neutral” rating restated by analysts at Wedbush in a research note issued to investors on Saturday, July 22nd. They presently have a $60.00 target price on the coffee company’s stock, down from their prior target price of $65.00. Wedbush’s price target would suggest a potential upside of 13.85% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Tuesday, April 25th. Stifel Nicolaus set a $66.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, April 28th. Telsey Advisory Group assumed coverage on shares of Starbucks Corporation in a report on Monday, March 27th. They set an “outperform” rating and a $66.00 price objective for the company. Sanford C. Bernstein reaffirmed a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, June 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $64.93.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 0.64% during trading on Friday, hitting $52.70. The stock had a trading volume of 10,370,499 shares. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The stock’s 50-day moving average is $56.32 and its 200-day moving average is $58.13. The stock has a market cap of $76.09 billion, a price-to-earnings ratio of 26.60 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm earned $0.49 EPS. The business’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post $2.07 EPS for the current year.
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In related news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 cost of $55.30 per share, with a total value of $995,400.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SBUX. Baltimore Washington Financial Advisors Inc. acquired a new position in shares of Starbucks Corporation during the fourth quarter worth about $16,059,000. Appropriate Balance Financial Services Inc. raised its position in shares of Starbucks Corporation by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after buying an additional 13 shares during the period. Gradient Investments LLC raised its position in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares during the period. Jacobi Capital Management LLC raised its position in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares during the period. Finally, Sharkey Howes & Javer raised its position in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares during the period. 69.98% of the stock is owned by hedge funds and other institutional investors.
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.
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