Starbucks Corporation (SBUX) PT Set at $70.00 by Piper Jaffray Companies
Starbucks Corporation (NASDAQ:SBUX) has been given a $70.00 target price by investment analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the coffee company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 25.07% from the company’s current price.
SBUX has been the topic of a number of other research reports. Cowen and Company restated a “buy” rating and issued a $63.00 price target on shares of Starbucks Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. UBS AG set a $67.00 price target on Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC restated an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. Finally, Mizuho reiterated a “buy” rating and set a $75.00 target price on shares of Starbucks Corporation in a report on Friday, September 29th. Thirteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Starbucks Corporation has a consensus rating of “Buy” and a consensus price target of $64.24.
Starbucks Corporation (NASDAQ:SBUX) opened at 55.97 on Wednesday. The stock has a market cap of $80.82 billion, a P/E ratio of 28.25 and a beta of 0.78. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The stock has a 50 day moving average price of $54.57 and a 200 day moving average price of $57.73.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, equities research analysts forecast that Starbucks Corporation will post $2.06 EPS for the current year.
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In other Starbucks Corporation news, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the sale, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in SBUX. Jacobi Capital Management LLC grew its stake in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Gradient Investments LLC grew its stake in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares in the last quarter. Sharkey Howes & Javer grew its stake in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares in the last quarter. IHT Wealth Management LLC grew its stake in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in shares of Starbucks Corporation during the first quarter valued at about $122,000. Institutional investors own 70.82% of the company’s stock.
About Starbucks Corporation
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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