Starbucks Corp. (SBUX) Given a $72.00 Price Target by Piper Jaffray Cos. Analysts
Starbucks Corp. (NASDAQ:SBUX) received a $72.00 target price from stock analysts at Piper Jaffray Cos. in a research note issued on Tuesday. The firm currently has a a “buy” rating on the coffee company’s stock. Piper Jaffray Cos.’s target price suggests a potential upside of 35.08% from the stock’s previous close.
Several other brokerages have also recently commented on SBUX. Goldman Sachs Group Inc. raised Starbucks Corp. from a “buy” rating to a “conviction-buy” rating and set a $69.00 price target for the company in a research report on Tuesday, July 26th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Starbucks Corp. in a research report on Sunday, July 24th. Deutsche Bank AG set a $64.00 price objective on Starbucks Corp. and gave the company a “hold” rating in a research report on Sunday, July 24th. Nomura reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Starbucks Corp. in a research report on Monday, July 25th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of Starbucks Corp. in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Starbucks Corp. currently has an average rating of “Buy” and an average target price of $66.50.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.760% during mid-day trading on Tuesday, hitting $53.705. The stock had a trading volume of 6,080,762 shares. The firm has a market capitalization of $78.76 billion, a price-to-earnings ratio of 30.171 and a beta of 0.80. The stock’s 50 day moving average price is $55.50 and its 200 day moving average price 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 issued its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The firm earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Analysts forecast 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 business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the transaction, the director now directly owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.38% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Farmers National Bank purchased a new stake in shares of Starbucks Corp. during the second quarter worth approximately $101,000. Cascade Investment Advisors Inc. purchased a new stake in shares of Starbucks Corp. during the second quarter worth approximately $107,000. Valley National Advisers Inc. raised 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. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Starbucks Corp. during the second quarter worth approximately $123,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares during the last quarter. 68.13% of the stock is owned by institutional investors and hedge funds.
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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