Starbucks (NASDAQ:SBUX)‘s stock had its “outperform” rating reaffirmed by stock analysts at Telsey Advisory Group in a report released on Friday. They currently have a $70.00 target price on the coffee company’s stock, up from their prior target price of $66.00. Telsey Advisory Group’s price objective would indicate a potential upside of 14.27% from the stock’s current price.
SBUX has been the topic of several other research reports. UBS Group reduced their target price on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Mizuho set a $75.00 target price on shares of Starbucks and gave the company a “buy” rating in a report on Wednesday, November 1st. Morgan Stanley increased their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target on the stock. in a report on Thursday, November 2nd. Finally, Deutsche Bank cut their price target on shares of Starbucks to $62.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $63.54.
Starbucks (NASDAQ SBUX) opened at $61.26 on Friday. 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 twelve month low of $52.58 and a twelve month high of $64.87. The company has a market cap of $87,160.00, a price-to-earnings ratio of 31.10, a P/E/G ratio of 1.66 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm earned $0.56 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. research analysts forecast that Starbucks will post 2.38 earnings per share for the current year.
In other news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 497,808 shares of company stock valued at $28,559,521. Corporate insiders own 3.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after acquiring an additional 1,953,003 shares during the period. Capital World Investors lifted its position in Starbucks by 2.0% during the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after acquiring an additional 895,432 shares during the period. Northern Trust Corp lifted its position in Starbucks by 5.2% during the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after acquiring an additional 1,060,298 shares during the period. Capital International Investors lifted its position in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after acquiring an additional 4,696,452 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after acquiring an additional 1,809,166 shares during the period. 70.72% of the stock is 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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