Starbucks (SBUX) Given New $58.00 Price Target at BMO Capital Markets

Starbucks (NASDAQ:SBUX) had its price target boosted by analysts at BMO Capital Markets to $58.00 in a research report issued on Friday, The Fly reports. The brokerage presently has a “market perform” rating on the coffee company’s stock. BMO Capital Markets’ target price points to a potential upside of 1.94% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. OTR Global upgraded Starbucks to a “positive” rating in a research report on Thursday, October 26th. Morgan Stanley raised their price target on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Tigress Financial began coverage on Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating for the company. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.05 price target for the company in a research note on Tuesday, November 21st. Finally, Cowen restated an “outperform” rating and issued a $62.00 price target (down from $63.00) on shares of Starbucks in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.09.

Starbucks (SBUX) traded down $3.65 on Friday, hitting $56.90. The stock had a trading volume of 29,655,353 shares, compared to its average volume of 9,052,242. The company has a market capitalization of $82,020.00, a PE ratio of 28.88, a PEG ratio of 1.76 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 1-year low of $52.58 and a 1-year high of $64.87.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the business posted $0.52 earnings per share. Starbucks’s quarterly revenue was up 5.9% on a year-over-year basis. analysts anticipate that Starbucks will post 2.39 earnings per share for the current year.

In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 497,808 shares of company stock worth $28,559,521. Corporate insiders own 3.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SBUX. Janus Henderson Group PLC increased its stake in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Parnassus Investments CA bought a new stake in Starbucks during the 3rd quarter worth $498,863,000. Capital International Investors grew its position in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after acquiring an additional 4,696,452 shares during the last quarter. Harding Loevner LP bought a new stake in Starbucks during the 3rd quarter worth $128,044,000. Finally, Renaissance Technologies LLC grew its position in Starbucks by 539.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after acquiring an additional 3,305,700 shares during the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.

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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.