Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “neutral” rating reissued by equities research analysts at Bank of America Corporation in a report issued on Thursday. They presently have a $65.00 price objective on the coffee company’s stock. Bank of America Corporation’s price target would indicate a potential upside of 19.28% from the stock’s current price.

Other analysts have also issued research reports about the stock. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Wedbush reaffirmed a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. Instinet reaffirmed a “buy” rating and set a $67.00 target price (down previously from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. BTIG Research reaffirmed a “buy” rating and set a $64.00 target price on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $67.00 target price on shares of Starbucks Corporation in a report on Wednesday, June 28th. Thirteen analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $64.64.

Starbucks Corporation (NASDAQ:SBUX) traded up 0.38% during midday trading on Thursday, hitting $54.49. The stock had a trading volume of 8,259,570 shares. The stock’s 50-day moving average is $54.51 and its 200-day moving average is $57.93. The company has a market cap of $78.69 billion, a P/E ratio of 27.51 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the business earned $0.49 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Starbucks Corporation will post $2.07 EPS for the current fiscal year.

WARNING: “Bank of America Corporation Reiterates Neutral Rating for Starbucks Corporation (SBUX)” was published by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/09/14/bank-of-america-corporation-reiterates-neutral-rating-for-starbucks-corporation-sbux.html.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of the stock in a transaction on Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Appropriate Balance Financial Services Inc. raised its holdings in Starbucks Corporation by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares during the period. Union Bankshares Corp raised its holdings in Starbucks Corporation by 0.4% in the 2nd quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after acquiring an additional 14 shares during the period. Ken Stern & Associates Inc. raised its holdings in Starbucks Corporation by 0.4% in the 2nd quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock valued at $330,000 after acquiring an additional 23 shares during the period. Vaughan David Investments Inc. IL raised its holdings in Starbucks Corporation by 0.6% in the 1st quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after acquiring an additional 26 shares during the period. Finally, CWM LLC raised its holdings in Starbucks Corporation by 0.6% in the 2nd quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock valued at $308,000 after acquiring an additional 30 shares during the period. 70.99% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Corporation Company Profile

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.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.