Starbucks (NASDAQ:SBUX)‘s stock had its “equal weight” rating reiterated by analysts at Barclays in a report issued on Tuesday. They currently have a $65.00 price target on the coffee company’s stock, up from their prior price target of $58.00. Barclays’ price target suggests a potential upside of 7.15% from the stock’s current price.
A number of other research firms also recently issued reports on SBUX. Stephens restated an “equal weight” rating and issued a $52.00 price target (down from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. Mizuho restated a “buy” rating and issued a $75.00 price target on shares of Starbucks in a research note on Friday, September 29th. Stifel Nicolaus began coverage on Starbucks in a research note on Tuesday, October 3rd. They issued a “hold” rating and a $58.00 price target on the stock. Morgan Stanley restated an “overweight” rating and issued a $62.00 price target on shares of Starbucks in a research note on Wednesday, October 4th. Finally, BMO Capital Markets restated a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.36.
Shares of Starbucks (NASDAQ SBUX) traded up $0.10 on Tuesday, reaching $60.66. The company’s stock had a trading volume of 8,433,700 shares, compared to its average volume of 6,910,246. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks has a 1-year low of $52.58 and a 1-year high of $64.87. The stock has a market cap of $87,140.00, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 1.65 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the business posted $0.56 EPS. The company’s revenue was down .2% compared to the same quarter last year. equities analysts expect that Starbucks will post 2.37 earnings per share for the current fiscal year.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the sale, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of SBUX. First American Bank increased its holdings in shares of Starbucks by 6.2% in the second quarter. First American Bank now owns 21,222 shares of the coffee company’s stock worth $1,237,000 after purchasing an additional 1,236 shares during the last quarter. Perkins Coie Trust Co grew its position in Starbucks by 145.5% in the second quarter. Perkins Coie Trust Co now owns 17,379 shares of the coffee company’s stock worth $1,013,000 after acquiring an additional 10,299 shares in the last quarter. Evanson Asset Management LLC grew its position in Starbucks by 32.2% in the second quarter. Evanson Asset Management LLC now owns 6,514 shares of the coffee company’s stock worth $380,000 after acquiring an additional 1,585 shares in the last quarter. Koshinski Asset Management Inc. grew its position in Starbucks by 31.3% in the second quarter. Koshinski Asset Management Inc. now owns 6,843 shares of the coffee company’s stock worth $399,000 after acquiring an additional 1,632 shares in the last quarter. Finally, RB Capital Management LLC grew its position in Starbucks by 1.4% in the second quarter. RB Capital Management LLC now owns 50,508 shares of the coffee company’s stock worth $2,945,000 after acquiring an additional 701 shares in the last quarter. 70.72% 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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