Starbucks Corporation (SBUX) Stock Rating Reaffirmed by Morgan Stanley
Starbucks Corporation (NASDAQ:SBUX)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $62.00 target price on the coffee company’s stock. Morgan Stanley’s price target would suggest a potential upside of 14.96% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Jefferies Group LLC reaffirmed an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a report on Monday, June 12th. Vetr raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price target on the stock in a report on Thursday, June 8th. Mizuho started coverage on shares of Starbucks Corporation in a report on Thursday, June 8th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus target price of $64.33.
Shares of Starbucks Corporation (NASDAQ SBUX) traded down 0.11% during mid-day trading on Wednesday, reaching $53.93. The company’s stock had a trading volume of 5,568,558 shares. The firm has a market cap of $77.87 billion, a PE ratio of 27.22 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm’s 50 day moving average is $54.24 and its 200 day moving average is $57.80.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.
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In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $995,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SBUX. Magellan Asset Management Ltd grew its stake in Starbucks Corporation by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares in the last quarter. Janus Henderson Group PLC grew its stake in Starbucks Corporation by 3,076.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after acquiring an additional 13,452,551 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Starbucks Corporation by 32.9% during the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after acquiring an additional 3,511,080 shares in the last quarter. Renaissance Technologies LLC grew its stake in Starbucks Corporation by 539.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after acquiring an additional 3,305,700 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Starbucks Corporation by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after acquiring an additional 2,234,324 shares in the last quarter. 70.83% of the stock is owned by 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.
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