Starbucks Corporation (NASDAQ:SBUX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Starbucks’s operating fundamentals such as solid global retail footprint, successful innovations, best-in-class loyalty program and digital offerings remain strong. Again, digital initiatives like mobile order/pay, delivery services and third-party loyalty partnerships can stimulate stronger sales trends in the Americas. CPG growth across the world as well as China/Asia expansion will also lead to value creation. These initiatives might benefit the company in the long run. However, the consequential increment in spending is likely to create pressure on its bottom line in the near term. Also, economic, geopolitical and consumer headwinds continue to impact Starbucks' results. Meanwhile, the company’s shares have underperformed the industry so far this year.”

Other equities research analysts also recently issued reports about the stock. Jefferies Group LLC reissued an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research note on Friday, July 28th. Sanford C. Bernstein reissued a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note 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 research note on Thursday, June 8th. Mizuho started coverage on shares of Starbucks Corporation in a research note 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 company a “buy” rating in a research note on Wednesday, June 28th. Thirteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Starbucks Corporation currently has an average rating of “Buy” and an average price target of $64.34.

Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 1.19% during trading on Thursday, reaching $54.57. 1,406,907 shares of the company’s stock were exchanged. The stock has a market cap of $78.79 billion, a P/E ratio of 27.55 and a beta of 0.78. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The company has a 50 day moving average of $54.26 and a 200 day moving average of $57.77.

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, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. Equities research analysts anticipate that Starbucks Corporation will post $2.06 EPS for the current year.

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In related news, insider John Culver sold 64,776 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares in the company, valued at approximately $20,898,857.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Regent Investment Management LLC raised its position in Starbucks Corporation by 6.8% in the 2nd quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after purchasing an additional 300 shares during the last quarter. Cape Cod Five Cents Savings Bank raised its position in Starbucks Corporation by 16.9% in the 2nd quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock valued at $1,861,000 after purchasing an additional 4,616 shares during the last quarter. Personal Capital Advisors Corp raised its position in Starbucks Corporation by 8.0% in the 2nd quarter. Personal Capital Advisors Corp now owns 369,606 shares of the coffee company’s stock valued at $21,552,000 after purchasing an additional 27,508 shares during the last quarter. Magellan Asset Management Ltd raised its position in Starbucks Corporation by 3,809,645.9% in 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 purchasing an additional 18,667,265 shares during the last quarter. Finally, Shelton Capital Management raised its position in Starbucks Corporation by 104.4% in the 1st quarter. Shelton Capital Management now owns 202,191 shares of the coffee company’s stock valued at $11,806,000 after purchasing an additional 103,256 shares during the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.

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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Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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