Starbucks Corporation (NASDAQ:SBUX) received a $70.00 target price from analysts at Piper Jaffray Companies in a research report issued on Wednesday. The brokerage presently has a “buy” rating on the coffee company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 25.07% from the stock’s previous close.

A number of other analysts have also weighed in on SBUX. Royal Bank Of Canada reiterated an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research note on Tuesday, June 13th. Wedbush lowered shares of Starbucks Corporation from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $61.00 to $65.00 in a research note on Wednesday, June 14th. They noted that the move was a valuation call. BidaskClub lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research note on Friday, June 16th. Finally, KeyCorp initiated coverage on shares of Starbucks Corporation in a research note on Thursday, June 22nd. They issued an “overweight” rating and a $68.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.24.

Shares of Starbucks Corporation (SBUX) traded up 0.59% on Wednesday, hitting $55.97. 7,234,267 shares of the stock traded hands. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a 50 day moving average of $54.57 and a 200 day moving average of $57.73. The company has a market cap of $80.82 billion, a PE ratio of 28.25 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities analysts anticipate that Starbucks Corporation will post $2.06 earnings per share for the current year.

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In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction dated 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 directly owns 36,966 shares in the company, valued at $1,974,354.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Culver sold 64,776 shares of Starbucks Corporation 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 owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Jacobi Capital Management LLC increased its position in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares during the last quarter. Gradient Investments LLC increased its position in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares during the last quarter. Sharkey Howes & Javer increased its position in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in shares of Starbucks Corporation during the first quarter valued at about $122,000. Institutional investors and hedge funds own 70.82% 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.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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