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.

COPYRIGHT VIOLATION NOTICE: “Starbucks Corporation (SBUX) Stock Rating Reaffirmed by Morgan Stanley” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.americanbankingnews.com/2017/10/04/starbucks-corporation-sbux-stock-rating-reaffirmed-by-morgan-stanley.html.

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.

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.