Starbucks Corp. Given New $80.00 Price Target at JPMorgan Chase & Co. (SBUX)
Investment analysts at JPMorgan Chase & Co. lifted their target price on shares of Starbucks Corp. (NASDAQ:SBUX) from $74.00 to $80.00 in a note issued to investors on Tuesday, Stock Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 4.51% from the company’s current price.
A number of other analysts have also recently weighed in on SBUX. Analysts at Wells Fargo & Co. reiterated a “hold” rating on shares of Starbucks Corp. (NASDAQ:SBUX) in a research note to investors on Friday. They now have a $73.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Starbucks Corp. (NASDAQ:SBUX) from $82.00 to $85.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Starbucks Corp. (NASDAQ:SBUX) in a research note to investors on Wednesday, September 18th. They now have a $84.00 price target on the stock.
Six investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Starbucks Corp. has a consensus rating of “Buy” and an average target price of $73.96.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 1.58% on Tuesday, hitting $76.55. 3,824,757 shares of the company’s stock traded hands. Starbucks Corp. has a 52-week low of $44.27 and a 52-week high of $77.84. The stock has a 50-day moving average of $72.88 and a 200-day moving average of $65.6. The company has a market cap of $57.520 billion and a price-to-earnings ratio of 36.07.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.02. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company posted $0.43 earnings per share. Starbucks Corp.’s revenue was up 13.2% compared to the same quarter last year. On average, analysts predict that Starbucks Corp. will post $2.23 earnings per share for the current fiscal year.
In other Starbucks Corp. news, Insider John Culver unloaded 40,100 shares of the company’s stock on the open market in a transaction dated Friday, September 13th. The shares were sold at an average price of $75.30, for a total transaction of $3,019,530.00. Following the transaction, the insider now directly owns 157,241 shares in the company, valued at approximately $11,840,247. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Starbucks Corporation is a roaster, marketer and retailer of coffee operating in 60 countries. The Company purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of fresh food items, through Company-operated stores.
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