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

Several other equities research analysts also recently commented on SBUX. RBC Capital Markets reiterated an outperform rating and set a $68.00 target price on shares of Starbucks Corp. in a research report on Tuesday, September 13th. BTIG Research set a $64.00 target price on shares of Starbucks Corp. and gave the stock a buy rating in a research report on Monday, September 12th. Goldman Sachs Group Inc. reiterated a buy rating on shares of Starbucks Corp. in a research report on Friday, September 9th. Robert W. Baird reiterated an outperform rating on shares of Starbucks Corp. in a research report on Thursday, September 8th. Finally, Morgan Stanley reiterated a buy rating and set a $64.00 target price on shares of Starbucks Corp. in a research report on Sunday, August 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $66.50.

Shares of Starbucks Corp. (NASDAQ:SBUX) opened at 53.74 on Tuesday. Starbucks Corp. has a 12 month low of $52.63 and a 12 month high of $64.00. The company has a market cap of $78.82 billion, a P/E ratio of 30.19 and a beta of 0.80. The stock’s 50 day moving average is $56.13 and its 200 day moving average is $57.04.

Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. On average, analysts anticipate that Starbucks Corp. will post $1.89 EPS 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 transaction of $742,789.80. Following the sale, the director now directly owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.38% of the company’s stock.

Several large investors have recently made changes to their positions in SBUX. Valley National Advisers Inc. increased 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 last quarter. Advisory Services Network LLC increased its stake in shares of Starbucks Corp. by 0.3% in the second quarter. Advisory Services Network LLC now owns 4,339 shares of the coffee company’s stock worth $248,000 after buying an additional 13 shares during the last quarter. Autus Asset Management LLC increased its stake in shares of Starbucks Corp. by 0.9% in the second quarter. Autus Asset Management LLC now owns 4,699 shares of the coffee company’s stock worth $269,000 after buying an additional 40 shares during the last quarter. Roberts Glore & Co. Inc. IL increased its stake in shares of Starbucks Corp. by 0.9% in the second quarter. Roberts Glore & Co. Inc. IL now owns 5,325 shares of the coffee company’s stock worth $304,000 after buying an additional 50 shares during the last quarter. Finally, Mirador Capital Partners LP increased its stake in shares of Starbucks Corp. by 0.9% in the second quarter. Mirador Capital Partners LP now owns 7,617 shares of the coffee company’s stock worth $426,000 after buying an additional 67 shares during the last quarter. 68.27% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Corp. Company Profile

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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