Analysts at Tigress Financial initiated coverage on shares of Starbucks (NASDAQ:SBUX) in a report issued on Wednesday, The Fly reports. The brokerage set a “buy” rating on the coffee company’s stock.
Several other equities research analysts also recently weighed in on SBUX. Cowen restated a “buy” rating and issued a $63.00 target price on shares of Starbucks in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Bank of America restated a “neutral” rating and issued a $65.00 target price on shares of Starbucks in a research note on Thursday, September 14th. Stephens restated an “equal weight” rating and issued a $52.00 target price (down from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. Finally, Mizuho restated a “buy” rating and issued a $75.00 target price on shares of Starbucks in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $63.26.
Shares of Starbucks (NASDAQ SBUX) traded up $0.13 during mid-day trading on Wednesday, reaching $57.27. 4,810,000 shares of the company traded hands, compared to its average volume of 8,800,000. The stock has a market capitalization of $81,480.00, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.76. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87.
In related news, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 over the last quarter. Insiders own 3.40% of the company’s stock.
Several institutional investors have recently modified their holdings of SBUX. Vanguard Group Inc. increased its holdings in Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after buying an additional 1,953,003 shares in the last quarter. Capital World Investors increased its holdings in Starbucks by 2.0% in the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after buying an additional 895,432 shares in the last quarter. Northern Trust Corp increased its holdings in Starbucks by 5.2% in the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after buying an additional 1,060,298 shares in the last quarter. Capital International Investors increased its holdings in Starbucks by 28.3% in the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after buying an additional 4,696,452 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its holdings in Starbucks by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. 70.67% of the stock is owned by hedge funds and other institutional investors.
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Starbucks 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.
