Vetr upgraded shares of Starbucks Corp. (NASDAQ:SBUX) from a buy rating to a strong-buy rating in a report published on Tuesday morning. The brokerage currently has $60.97 target price on the coffee company’s stock.

Several other equities research analysts also recently commented on SBUX. Robert W. Baird reiterated a buy rating on shares of Starbucks Corp. in a report on Monday, May 16th. Stifel Nicolaus reiterated a hold rating on shares of Starbucks Corp. in a report on Monday, June 6th. Royal Bank Of Canada reiterated an outperform rating and issued a $68.00 price objective on shares of Starbucks Corp. in a report on Monday, June 13th. Wedbush reiterated an outperform rating and issued a $70.00 price objective on shares of Starbucks Corp. in a report on Tuesday, June 14th. Finally, Zacks Investment Research downgraded Starbucks Corp. from a buy rating to a hold rating in a report on Monday, June 27th. One 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 given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $66.50.

Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 53.74 on Tuesday. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00. The stock has a 50 day moving average of $56.13 and a 200-day moving average of $57.04. The stock has a market capitalization of $78.82 billion, a P/E ratio of 30.19 and a beta of 0.80.

Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The company earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Equities analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current year.

In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the completion of the sale, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.38% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Farmers National Bank purchased a new stake in shares of Starbucks Corp. during the second quarter valued at $101,000. Cascade Investment Advisors Inc. bought a new stake in shares of Starbucks Corp. during the second quarter worth $107,000. Valley National Advisers Inc. boosted its stake in shares of Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in shares of Starbucks Corp. during the second quarter worth $123,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares during the period. 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.

5 Day Chart for NASDAQ:SBUX

To view Vetr’s full report, visit Vetr’s official website.

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