Barclays Boosts Starbucks (SBUX) Price Target to $65.00
Starbucks (NASDAQ:SBUX) had its price objective increased by analysts at Barclays from $58.00 to $65.00 in a research note issued to investors on Tuesday. The firm presently has an “equal weight” rating on the coffee company’s stock. Barclays’ price target suggests a potential upside of 7.33% from the company’s current price.
Other research analysts also recently issued research reports about the company. Stephens restated an “equal weight” rating and issued a $52.00 target price (down previously from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. Credit Suisse Group cut their target price on Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. OTR Global upgraded Starbucks to a “positive” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, BMO Capital Markets restated a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $63.36.
Starbucks (SBUX) traded up $0.16 during mid-day trading on Tuesday, hitting $60.56. The stock had a trading volume of 8,040,363 shares, compared to its average volume of 8,210,000. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The company has a market cap of $86,160.00, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 1.64 and a beta of 0.76. Starbucks has a 12 month low of $52.58 and a 12 month high of $64.87.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. analysts predict that Starbucks will post 2.37 EPS for the current fiscal year.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of Starbucks stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold a total of 497,808 shares of company stock worth $28,559,521 over the last ninety days. Insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Union Bankshares Corp grew its holdings in Starbucks by 0.4% during the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after purchasing an additional 14 shares during the period. Ken Stern & Associates Inc. boosted its position in Starbucks 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 last quarter. Spectrum Management Group Inc. boosted its position in Starbucks by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after acquiring an additional 30 shares during the last quarter. Heritage Investors Management Corp boosted its position in Starbucks by 0.8% during the second quarter. Heritage Investors Management Corp now owns 4,963 shares of the coffee company’s stock worth $289,000 after acquiring an additional 40 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Starbucks by 0.7% during the second quarter. JFS Wealth Advisors LLC now owns 5,827 shares of the coffee company’s stock worth $340,000 after acquiring an additional 41 shares during the last quarter. 70.72% of the stock is currently owned by institutional investors and hedge funds.
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.
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