Starbucks Corp. (NASDAQ:SBUX) Receives Consensus Rating of “Buy” from Brokerages
Starbucks Corp. (NASDAQ:SBUX) has been assigned an average rating of “Buy” from the thirty-three analysts that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, twenty-four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $66.23.
A number of research firms recently commented on SBUX. Deutsche Bank AG set a $64.00 target price on shares of Starbucks Corp. and gave the company a “hold” rating in a research report on Sunday, July 24th. Vetr cut shares of Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.76 target price for the company. in a research report on Monday, July 11th. Robert W. Baird restated a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, May 24th. Longbow Research assumed coverage on shares of Starbucks Corp. in a research note on Wednesday. They set a “buy” rating on the stock. Finally, Cowen and Company restated a “buy” rating on shares of Starbucks Corp. in a research note on Monday, July 18th.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total transaction of $742,789.80. Following the completion of the sale, the director now directly owns 26,654 shares in the company, valued at $1,564,589.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.38% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SBUX. Evercore Wealth Management LLC boosted its position in shares of Starbucks Corp. by 3.5% in the second quarter. Evercore Wealth Management LLC now owns 35,235 shares of the coffee company’s stock worth $2,012,000 after buying an additional 1,207 shares during the period. Macquarie Group Ltd. boosted its position in shares of Starbucks Corp. by 1.6% in the second quarter. Macquarie Group Ltd. now owns 447,096 shares of the coffee company’s stock worth $25,538,000 after buying an additional 6,910 shares during the period. Carnick & Kubik Group LLC acquired a new position in shares of Starbucks Corp. during the second quarter worth $1,462,000. Williams Jones & Associates LLC increased its position in shares of Starbucks Corp. by 0.7% in the second quarter. Williams Jones & Associates LLC now owns 165,018 shares of the coffee company’s stock worth $9,426,000 after buying an additional 1,152 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Starbucks Corp. during the second quarter worth about $3,379,000. Hedge funds and other institutional investors own 68.13% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.17% on Wednesday, hitting $53.39. 3,982,616 shares of the stock traded hands. The stock has a 50 day moving average of $55.50 and a 200 day moving average of $56.84. The company has a market cap of $78.30 billion, a PE ratio of 29.99 and a beta of 0.80. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last posted its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The company earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Equities analysts anticipate that Starbucks Corp. will post $1.89 earnings per share for the current year.
About Starbucks Corp.
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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