Starbucks Corporation (NASDAQ:SBUX) had its target price decreased by stock analysts at Morgan Stanley from $68.00 to $62.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has a “weight” rating on the coffee company’s stock. Morgan Stanley’s price objective indicates a potential upside of 14.05% from the stock’s current price.

Several other equities research analysts also recently issued reports on SBUX. OTR Global downgraded Starbucks Corporation to a “positive” rating in a report on Tuesday, April 25th. UBS AG set a $70.00 price target on Starbucks Corporation and gave the company a “buy” rating in a report on Tuesday, April 25th. Vetr downgraded Starbucks Corporation from a “buy” rating to a “hold” rating and set a $63.91 price target for the company. in a report on Wednesday, April 26th. Credit Suisse Group raised their price target on Starbucks Corporation from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Friday, April 28th. Finally, Stifel Nicolaus set a $66.00 price target on Starbucks Corporation and gave the company a “buy” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.64.

Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.78% on Tuesday, reaching $54.36. 8,601,020 shares of the company’s stock traded hands. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company’s 50-day moving average is $55.90 and its 200-day moving average is $58.11. The firm has a market capitalization of $78.49 billion, a P/E ratio of 27.44 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.

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In related 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 bought at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at $995,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the transaction, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Appropriate Balance Financial Services Inc. raised its position in 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 in the last quarter. Gradient Investments LLC raised its position in 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 in the last quarter. Jacobi Capital Management LLC raised its position in 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 in the last quarter. Sharkey Howes & Javer raised its position in 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 in the last quarter. Finally, IHT Wealth Management LLC raised its position in Starbucks Corporation by 10.2% in 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 in the last quarter. 69.98% of the stock is currently owned by 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.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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