Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “outperform” rating reaffirmed by analysts at Cowen and Company in a report issued on Friday, July 21st. They currently have a $66.00 price target on the coffee company’s stock. Cowen and Company’s target price points to a potential upside of 24.36% from the company’s current price.
Several other equities analysts have also recently weighed in on SBUX. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 price objective on shares of Starbucks Corporation in a report on Friday, July 14th. Mizuho reiterated a “buy” rating and set a $75.00 price objective on shares of Starbucks Corporation in a report on Thursday, July 6th. BidaskClub cut Starbucks Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $67.00 target price on shares of Starbucks Corporation in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $64.93.
Shares of Starbucks Corporation (SBUX) opened at 53.07 on Friday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a market cap of $76.63 billion, a P/E ratio of 26.79 and a beta of 0.80. The stock has a 50 day moving average of $57.37 and a 200 day moving average of $58.32.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 EPS. Equities analysts expect that Starbucks Corporation will post $2.08 EPS for the current fiscal year.
In other Starbucks Corporation news, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the sale, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of SBUX. Regent Investment Management LLC raised its stake in shares of Starbucks Corporation by 6.8% in the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock worth $273,000 after buying an additional 300 shares during the period. Cape Cod Five Cents Savings Bank raised its stake in shares of Starbucks Corporation by 16.9% in the second quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock worth $1,861,000 after buying an additional 4,616 shares during the period. Banco Santander S.A. purchased a new stake in Starbucks Corporation during the fourth quarter worth about $3,069,000. Israel Discount Bank of New York GFN purchased a new stake in Starbucks Corporation during the fourth quarter worth about $694,000. Finally, Zevin Asset Management LLC increased its stake in Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock worth $3,616,000 after buying an additional 625 shares in the last quarter. Institutional investors and hedge funds own 69.85% of the company’s stock.
About Starbucks Corporation
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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