Starbucks Corp. (SBUX) Stock Rating Upgraded by Goldman Sachs Group Inc.
Starbucks Corp. (NASDAQ:SBUX) was upgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “conviction-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $69.00 price objective on the coffee company’s stock. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 29.07% from the company’s previous close.
Other analysts have also recently issued reports about the company. Robert W. Baird reaffirmed a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, April 19th. Vetr lowered Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $67.16 price objective for the company. in a research report on Monday, April 18th. BTIG Research reiterated a “buy” rating and issued a $75.00 price objective on shares of Starbucks Corp. in a research report on Saturday, April 16th. Credit Agricole SA assumed coverage on Starbucks Corp. in a research report on Wednesday, April 13th. They issued a “buy” rating for the company. Finally, Evercore ISI assumed coverage on Starbucks Corp. in a research report on Monday, April 4th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Starbucks Corp. has a consensus rating of “Buy” and an average target price of $66.54.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.60% during trading on Tuesday, hitting $53.46. 7,279,723 shares of the stock were exchanged. The stock has a market cap of $78.40 billion, a price-to-earnings ratio of 30.03 and a beta of 0.83. Starbucks Corp. has a 1-year low of $52.63 and a 1-year high of $64.00. The firm’s 50 day moving average price is $54.84 and its 200-day moving average price is $56.43.
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Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The company earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. On average, analysts anticipate that Starbucks Corp. will post $1.89 EPS for the current year.
In related news, Director Myron E. Ullman III sold 12,654 shares of the firm’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 sale, the director now directly 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 corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in SBUX. Vanguard Group Inc. raised its stake in Starbucks Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 86,325,173 shares of the coffee company’s stock valued at $4,930,894,000 after buying an additional 715,837 shares during the period. Capital World Investors raised its stake in Starbucks Corp. by 8.1% in the second quarter. Capital World Investors now owns 26,626,026 shares of the coffee company’s stock valued at $1,520,879,000 after buying an additional 2,000,107 shares during the period. Janus Capital Management LLC raised its stake in Starbucks Corp. by 8.7% in the second quarter. Janus Capital Management LLC now owns 21,122,832 shares of the coffee company’s stock valued at $1,206,513,000 after buying an additional 1,691,400 shares during the period. BlackRock Fund Advisors raised its stake in Starbucks Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 20,001,710 shares of the coffee company’s stock valued at $1,194,102,000 after buying an additional 66,026 shares during the period. Finally, Geode Capital Management LLC raised its stake in Starbucks Corp. by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,405,080 shares of the coffee company’s stock valued at $798,832,000 after buying an additional 829,990 shares during the period. 68.13% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corp. Company Profile
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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