Starbucks (NASDAQ:SBUX)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a report released on Friday, Marketbeat.com reports. They currently have a $70.00 price objective on the coffee company’s stock, up from their previous price objective of $66.00. Telsey Advisory Group’s target price would indicate a potential upside of 14.27% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Mizuho set a $75.00 price target on Starbucks and gave the company a “buy” rating in a research report on Wednesday, November 1st. Deutsche Bank reissued a “buy” rating and set a $67.00 price target on shares of Starbucks in a research report on Monday, October 9th. Piper Jaffray Companies set a $70.00 target price on Starbucks and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a research report on Thursday, November 2nd. Finally, Nomura decreased their target price on Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $63.54.
Starbucks (NASDAQ SBUX) traded up $0.17 during mid-day trading on Friday, reaching $61.26. The company’s stock had a trading volume of 8,252,794 shares, compared to its average volume of 7,810,000. Starbucks has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The stock has a market capitalization of $87,400.00, a P/E ratio of 31.10, a PEG ratio of 1.65 and a beta of 0.76.
In other news, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 in the last 90 days. 3.40% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in SBUX. Vanguard Group Inc. grew its holdings in Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after buying an additional 1,953,003 shares in the last quarter. Capital World Investors grew its holdings in Starbucks by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after buying an additional 895,432 shares in the last quarter. Northern Trust Corp grew its holdings in Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after buying an additional 1,060,298 shares in the last quarter. Capital International Investors grew its holdings in Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after buying an additional 4,696,452 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after buying an additional 1,809,166 shares in the last quarter. Institutional investors and hedge funds own 70.72% of the company’s stock.
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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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