Starbucks Corporation (SBUX) Stock Rating Reaffirmed by BMO Capital Markets
Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “hold” rating restated by analysts at BMO Capital Markets in a research note issued on Thursday.
The analysts wrote, “We are lowering our rating on CarMax to Perform from Outperform. For some time, we have highlighted KMX as one of the most innovative omni-channel business models in the Hardlines sector. Our upbeat, longer term outlook for KMX is unchanged. That said, in the near term, shares of KMX have tended to swoon on even modest changes in underlying fundamentals. As we study carefully the back half of FY17 (Feb. 2018), we are increasingly concerned that despite significant internal and external tailwinds, more challenged used car unit comp comparisons could disrupt recent top- line momentum at KMX and spur a re-setting lower of current Street forecasts.””
Several other research firms have also recently weighed in on SBUX. Sanford C. Bernstein reiterated a “buy” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, June 12th. Cowen and Company reiterated an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a report on Friday, July 21st. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Mizuho restated a “buy” rating and issued a $75.00 target price on shares of Starbucks Corporation in a research note on Friday, September 29th. Finally, Stephens restated an “equal weight” rating and issued a $52.00 target price (down previously from $58.00) on shares of Starbucks Corporation in a research note on Friday, September 29th. They noted that the move was a valuation call. Thirteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $64.34.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 55.17 on Thursday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm has a 50-day moving average price of $54.35 and a 200-day moving average price of $57.75. The company has a market capitalization of $79.66 billion, a P/E ratio of 27.85 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the business posted $0.49 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post $2.06 earnings per share for the current year.
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In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the stock in a transaction dated Friday, August 4th. The shares were acquired at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Starbucks Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. State Street Corp increased its holdings in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after purchasing an additional 1,598,669 shares during the last quarter. Capital World Investors increased its holdings in shares of Starbucks Corporation by 2.0% in the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after purchasing an additional 895,432 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after purchasing an additional 2,234,324 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Starbucks Corporation by 5.2% in the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after purchasing an additional 1,060,298 shares during the last quarter. Institutional investors and hedge funds own 70.83% of the company’s stock.
Starbucks Corporation 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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