Starbucks Corp. (SBUX) Lifted to “Strong-Buy” at Macquarie
Several other equities analysts have also issued reports on SBUX. Deutsche Bank AG set a $64.00 target price on shares of Starbucks Corp. and gave the company a hold rating in a report on Sunday, July 24th. Vetr lowered shares of Starbucks Corp. from a strong-buy rating to a buy rating and set a $62.76 target price for the company. in a report on Monday, July 11th. Robert W. Baird reiterated a buy rating on shares of Starbucks Corp. in a report on Tuesday, May 24th. Cowen and Company reiterated a buy rating on shares of Starbucks Corp. in a report on Monday, July 18th. Finally, Wedbush reiterated an outperform rating and set a $70.00 target price on shares of Starbucks Corp. in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $66.50.
Starbucks Corp. (NASDAQ:SBUX) opened at 53.74 on Wednesday. The firm’s 50-day moving average price is $56.13 and its 200 day moving average price is $57.04. The company has a market capitalization of $78.82 billion, a price-to-earnings ratio of 30.19 and a beta of 0.80. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last released its earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The firm earned $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. On average, equities research analysts expect that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total value of $742,789.80. Following the transaction, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.38% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of SBUX. Janney Montgomery Scott LLC increased its position in shares of Starbucks Corp. by 9.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 151,215 shares of the coffee company’s stock worth $9,077,000 after buying an additional 13,026 shares in the last quarter. WESPAC Advisors SoCal LLC bought a new position in shares of Starbucks Corp. during the fourth quarter worth approximately $1,005,000. Pioneer Investment Management Inc. increased its position in shares of Starbucks Corp. by 3.1% in the fourth quarter. Pioneer Investment Management Inc. now owns 5,598,553 shares of the coffee company’s stock worth $336,082,000 after buying an additional 168,107 shares in the last quarter. Reliance Trust Co. of Delaware increased its position in shares of Starbucks Corp. by 19.3% in the fourth quarter. Reliance Trust Co. of Delaware now owns 54,882 shares of the coffee company’s stock worth $3,295,000 after buying an additional 8,884 shares in the last quarter. Finally, J.P. Marvel Investment Advisors LLC bought a new position in shares of Starbucks Corp. during the fourth quarter worth approximately $13,533,000. Institutional investors and hedge funds own 68.27% of the company’s stock.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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