Starbucks Corporation (SBUX) Earns “Outperform” Rating from Cowen and Company
Cowen and Company restated their outperform rating on shares of Starbucks Corporation (NASDAQ:SBUX) in a research report released on Tuesday morning. The firm currently has a $62.00 price objective on the coffee company’s stock, down from their previous price objective of $63.00.
Other research analysts also recently issued research reports about the stock. Jefferies Group LLC reissued an average rating and set a $65.00 target price on shares of Starbucks Corporation in a research report on Friday, July 28th. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the company a buy rating in a research report on Wednesday, June 28th. Sanford C. Bernstein reissued a buy rating and set a $67.00 target price on shares of Starbucks Corporation in a research report on Monday, June 12th. BidaskClub downgraded shares of Starbucks Corporation from a strong-buy rating to a buy rating in a research report on Thursday, June 15th. Finally, Piper Jaffray Companies reissued a buy rating and set a $70.00 target price on shares of Starbucks Corporation in a research report on Friday, July 14th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $64.24.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 0.23% during midday trading on Tuesday, reaching $55.84. 2,068,717 shares of the company’s stock were exchanged. The company has a market cap of $80.63 billion, a price-to-earnings ratio of 28.19 and a beta of 0.78. 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 price is $54.57 and its 200 day moving average price is $57.73.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Equities analysts anticipate that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.
In related news, insider John Culver sold 64,776 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SBUX. Jacobi Capital Management LLC raised its position in Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC raised its position in Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after acquiring an additional 46 shares during the period. Sharkey Howes & Javer raised its position in Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after acquiring an additional 150 shares during the period. IHT Wealth Management LLC raised its position in Starbucks Corporation 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 acquiring an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC acquired a new position in Starbucks Corporation during the first quarter worth $122,000. Hedge funds and other institutional investors own 70.82% of the company’s stock.
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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