Starbucks Corporation (NASDAQ:SBUX) was upgraded by OTR Global to a “positive” rating in a report issued on Thursday, The Fly reports.

A number of other research firms have also recently commented on SBUX. UBS Group AG set a $67.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Stifel Nicolaus cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and dropped their price target for the stock from $66.00 to $58.00 in a research note on Friday, July 28th. Jefferies Group LLC reissued an “average” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Finally, Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.24.

Starbucks Corporation (NASDAQ SBUX) traded up 2.20% during trading on Thursday, reaching $55.35. 2,205,473 shares of the company were exchanged. The stock has a market capitalization of $79.92 billion, a P/E ratio of 27.94 and a beta of 0.78. The company’s 50-day moving average price is $54.63 and its 200-day moving average price is $57.53. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last released its quarterly 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 analysts’ expectations of $5.76 billion. During the same period in the previous year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Corporation will post $2.06 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/26/otr-global-upgrades-starbucks-corporation-sbux-to-positive.html.

In related news, Director Myron E. Ullman III sold 22,966 shares of the 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 sale, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Culver sold 64,776 shares of the stock in a transaction on Friday, September 8th. The stock was 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 in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Appropriate Balance Financial Services Inc. boosted its holdings in Starbucks Corporation by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after buying an additional 13 shares in the last quarter. Union Bankshares Corp raised its position in Starbucks Corporation by 0.4% during the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock worth $204,000 after acquiring an additional 14 shares during the period. Ken Stern & Associates Inc. raised its position in Starbucks Corporation by 0.4% during the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after acquiring an additional 23 shares during the period. Vaughan David Investments Inc. IL raised its position in Starbucks Corporation by 0.6% during the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock worth $271,000 after acquiring an additional 26 shares during the period. Finally, CWM LLC raised its position in Starbucks Corporation by 0.6% during the second quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock worth $308,000 after acquiring an additional 30 shares during the period. 70.77% of the stock is currently owned by hedge funds and other institutional investors.

About Starbucks Corporation

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.

The Fly

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.