Tigress Financial reiterated their buy rating on shares of Starbucks (NASDAQ:SBUX) in a research report sent to investors on Tuesday, January 2nd.
A number of other research firms also recently weighed in on SBUX. Zacks Investment Research raised shares of Starbucks from a sell rating to a hold rating in a research note on Wednesday, September 6th. Bank of America restated a neutral rating and set a $65.00 price objective on shares of Starbucks in a report on Thursday, September 14th. Stephens restated an equal weight rating and set a $52.00 price objective (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. Mizuho restated a buy rating and set a $75.00 price objective on shares of Starbucks in a report on Friday, September 29th. Finally, Stifel Nicolaus started coverage on shares of Starbucks in a report on Tuesday, October 3rd. They set a hold rating and a $58.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $63.23.
Shares of Starbucks (NASDAQ SBUX) traded up $0.40 during trading on Tuesday, hitting $60.40. 6,980,995 shares of the stock traded hands, compared to its average volume of 8,310,000. Starbucks has a 1-year low of $52.58 and a 1-year high of $64.87. The firm has a market cap of $85,940.00, a price-to-earnings ratio of 30.66, a P/E/G ratio of 1.60 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was down .2% on a year-over-year basis. sell-side analysts predict that Starbucks will post 2.37 earnings per share for the current year.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SBUX. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Starbucks in the third quarter valued at about $111,000. Jacobi Capital Management LLC raised its position in shares of Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the period. IHT Wealth Management LLC raised its position in shares of Starbucks by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares during the period. Valley National Advisers Inc. raised its position in shares of Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Starbucks in the second quarter valued at about $128,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
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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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