Starbucks (SBUX) Rating Lowered to Buy at Vetr

Starbucks (NASDAQ:SBUX) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday, November 20th. They presently have a $63.14 price target on the coffee company’s stock. Vetr‘s target price would suggest a potential upside of 6.40% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Wedbush reiterated a “hold” rating on shares of Starbucks in a research note on Friday, July 28th. Instinet restated a “buy” rating and set a $67.00 target price (down previously from $70.00) on shares of Starbucks in a research report on Sunday, July 30th. BTIG Research restated a “buy” rating and set a $64.00 target price on shares of Starbucks in a research report on Sunday, July 30th. Stephens reaffirmed an “equal weight” rating and set a $52.00 price target (down previously from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Finally, Cowen reaffirmed an “outperform” rating and set a $63.00 price target (down previously from $66.00) on shares of Starbucks in a report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $63.26.

Shares of Starbucks (NASDAQ:SBUX) traded up $0.58 during trading hours on Monday, reaching $59.34. 11,295,525 shares of the company’s stock traded hands, compared to its average volume of 9,382,500. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The company has a market cap of $81,554.90, a PE ratio of 27.69, a PEG ratio of 1.57 and a beta of 0.75. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business earned $0.56 EPS. Starbucks’s quarterly revenue was down .2% on a year-over-year basis. research analysts expect that Starbucks will post 2.31 EPS for the current year.

In related news, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders sold 525,550 shares of company stock valued at $29,688,442 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Appropriate Balance Financial Services Inc. raised its holdings in Starbucks by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in Starbucks by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares in the last quarter. Gradient Investments LLC raised its holdings in Starbucks by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares in the last quarter. Sharkey Howes & Javer raised its holdings in Starbucks by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares in the last quarter. 71.07% of the stock is owned by institutional investors and hedge funds.

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Starbucks 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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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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