Traders Buy Starbucks Corporation (SBUX) on Weakness

Investors purchased shares of Starbucks Corporation (NASDAQ:SBUX) on weakness during trading on Friday. $102.32 million flowed into the stock on the tick-up and $78.62 million flowed out of the stock on the tick-down, for a money net flow of $23.70 million into the stock. Of all equities tracked, Starbucks Corporation had the 20th highest net in-flow for the day. Starbucks Corporation traded down ($0.03) for the day and closed at $54.88

Several analysts have recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Deutsche Bank AG reiterated a “buy” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research note on Monday, October 9th. BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Starbucks Corporation in a research note on Thursday, October 5th. Thirteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Starbucks Corporation currently has a consensus rating of “Buy” and an average price target of $64.24.

The stock has a market cap of $79.24 billion, a price-to-earnings ratio of 27.70 and a beta of 0.78. The stock’s 50 day moving average price is $54.63 and its 200 day moving average price is $57.53.

Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.

In related news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were 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 directly owns 18,000 shares of the company’s stock, valued at $995,400. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Starbucks Corporation by 2.1% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,813,457 shares of the coffee company’s stock worth $97,401,000 after buying an additional 37,733 shares during the period. Cable Hill Partners LLC raised its stake in shares of Starbucks Corporation by 67.5% in the third quarter. Cable Hill Partners LLC now owns 8,494 shares of the coffee company’s stock worth $456,000 after buying an additional 3,423 shares during the period. Markel Corp raised its stake in shares of Starbucks Corporation by 33.3% in the third quarter. Markel Corp now owns 52,000 shares of the coffee company’s stock worth $2,793,000 after buying an additional 13,000 shares during the period. BTR Capital Management Inc. raised its stake in shares of Starbucks Corporation by 6.1% in the third quarter. BTR Capital Management Inc. now owns 31,512 shares of the coffee company’s stock worth $1,693,000 after buying an additional 1,800 shares during the period. Finally, Intact Investment Management Inc. raised its stake in shares of Starbucks Corporation by 43.4% in the third quarter. Intact Investment Management Inc. now owns 38,000 shares of the coffee company’s stock worth $2,040,000 after buying an additional 11,500 shares during the period. 70.77% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This report was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://www.dispatchtribunal.com/2017/10/27/traders-buy-starbucks-corporation-sbux-on-weakness-2.html.

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.

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply