BMO Capital Markets Cuts Starbucks Corporation (SBUX) Price Target to $52.00
Starbucks Corporation (NASDAQ:SBUX) had its price objective lowered by equities researchers at BMO Capital Markets from $56.00 to $52.00 in a report issued on Friday. The firm presently has a “market perform” rating on the coffee company’s stock. BMO Capital Markets’ price target indicates a potential downside of 7.64% from the stock’s current price.
Several other research firms also recently commented on SBUX. Guggenheim downgraded shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Wedbush reaffirmed a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. Jefferies Group LLC reaffirmed an “average” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a report on Friday, July 28th. Stifel Nicolaus downgraded shares of Starbucks Corporation from a “buy” rating to a “hold” rating and cut their price objective for the stock from $66.00 to $58.00 in a report on Friday, July 28th. Finally, UBS AG set a $67.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Thirteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $63.20.
Starbucks Corporation (SBUX) traded up $1.17 on Friday, reaching $56.30. 10,158,813 shares of the company traded hands, compared to its average volume of 8,869,777. The company has a market capitalization of $79,226.79, a P/E ratio of 26.51 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 52.65%. Starbucks Corporation’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. equities analysts forecast that Starbucks Corporation will post 2.33 earnings per share for the current fiscal year.
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In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the transaction, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SBUX. Lowe FS boosted its stake in shares of Starbucks Corporation by 1.8% during the 3rd quarter. Lowe FS now owns 1,148 shares of the coffee company’s stock valued at $65,000 after purchasing an additional 20 shares in the last quarter. Saturna Capital boosted its stake in shares of Starbucks Corporation by 36.2% during the 3rd quarter. Saturna Capital now owns 27,758 shares of the coffee company’s stock valued at $1,578,000 after purchasing an additional 7,382 shares in the last quarter. Perigon Wealth Management boosted its stake in shares of Starbucks Corporation by 2.2% during the 3rd quarter. Perigon Wealth Management now owns 17,761 shares of the coffee company’s stock valued at $1,010,000 after purchasing an additional 380 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft boosted its stake in shares of Starbucks Corporation by 38.1% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 119,944 shares of the coffee company’s stock valued at $6,747,000 after purchasing an additional 33,075 shares in the last quarter. Finally, Gerstein Fisher boosted its stake in shares of Starbucks Corporation by 2.7% during the 3rd quarter. Gerstein Fisher now owns 11,720 shares of the coffee company’s stock valued at $666,000 after purchasing an additional 306 shares in the last quarter. 70.87% of the stock is currently owned by hedge funds and other 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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