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.
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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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