Starbucks Corp. (SBUX) Given a $72.00 Price Target at Piper Jaffray Cos.
Starbucks Corp. (NASDAQ:SBUX) has been given a $72.00 target price by research analysts at Piper Jaffray Cos. in a report released on Tuesday. The brokerage currently has a a “buy” rating on the coffee company’s stock. Piper Jaffray Cos.’s target price indicates a potential upside of 35.08% from the company’s previous close.
A number of other research analysts have also weighed in on SBUX. Robert W. Baird reaffirmed a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, May 24th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Starbucks Corp. in a research note on Monday, June 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a research note on Monday, June 13th. Wedbush reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Starbucks Corp. in a research note on Tuesday, June 14th. Finally, Zacks Investment Research lowered shares of Starbucks Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Starbucks Corp. presently has a consensus rating of “Buy” and an average price target of $66.50.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.38% during mid-day trading on Tuesday, hitting $53.50. 5,501,883 shares of the company traded hands. The stock has a market capitalization of $78.46 billion, a price-to-earnings ratio of 30.06 and a beta of 0.80. The company’s 50-day moving average is $55.50 and its 200-day moving average is $56.84. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00.
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Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Analysts predict that Starbucks Corp. will post $1.89 EPS for the current year.
In other news, Director Myron E. Ullman III sold 12,654 shares of the company’s stock in a transaction that occurred 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 transaction, the director now 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 Securities & Exchange Commission, which is accessible through this link. 3.38% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. increased its stake in 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 in the last quarter. Advisory Services Network LLC increased its stake in 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 in the last quarter. Autus Asset Management LLC increased its stake in 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 in the last quarter. Roberts Glore & Co. Inc. IL increased its stake in 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 in the last quarter. Finally, Mirador Capital Partners LP increased its stake in 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 in the last quarter. 68.13% of the stock is owned by institutional investors.
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.
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