Starbucks Corp. (SBUX) Given a $72.00 Price Target by Piper Jaffray Cos. Analysts
Starbucks Corp. (NASDAQ:SBUX) has been assigned a $72.00 target price by equities researchers at Piper Jaffray Cos. in a report issued on Tuesday. The firm presently has a a “buy” rating on the coffee company’s stock. Piper Jaffray Cos.’s target price would suggest a potential upside of 33.38% from the company’s previous close.
Several other analysts have also recently weighed in on the company. Morgan Stanley reissued a “buy” rating and set a $64.00 price objective on shares of Starbucks Corp. in a report on Sunday, August 14th. Jefferies Group reissued a “buy” rating on shares of Starbucks Corp. in a report on Tuesday, July 5th. RBC Capital Markets reissued an “outperform” rating and set a $68.00 price objective on shares of Starbucks Corp. in a report on Tuesday, September 13th. Zacks Investment Research cut Starbucks Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Macquarie raised Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Starbucks Corp. presently has a consensus rating of “Buy” and a consensus target price of $66.50.
Starbucks Corp. (NASDAQ:SBUX) opened at 53.98 on Tuesday. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00. The firm has a 50 day moving average of $55.42 and a 200 day moving average of $56.82. The firm has a market capitalization of $79.17 billion, a PE ratio of 30.33 and a beta of 0.80.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The business earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Equities analysts forecast that Starbucks Corp. will post $1.89 EPS for the current year.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the transaction, the director now owns 26,654 shares in the company, valued at approximately $1,564,589.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.38% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SBUX. Capital Investment Advisors LLC raised its stake in Starbucks Corp. by 2.3% in the first quarter. Capital Investment Advisors LLC now owns 4,940 shares of the coffee company’s stock valued at $295,000 after buying an additional 111 shares during the period. Jacobs & Co. CA raised its stake in Starbucks Corp. by 3.6% in the first quarter. Jacobs & Co. CA now owns 119,659 shares of the coffee company’s stock valued at $7,143,000 after buying an additional 4,210 shares during the period. Quotient Investors LLC raised its stake in Starbucks Corp. by 6.3% in the first quarter. Quotient Investors LLC now owns 45,973 shares of the coffee company’s stock valued at $2,745,000 after buying an additional 2,727 shares during the period. Osborn Rohs Williams & Donohoe Ltd raised its stake in Starbucks Corp. by 113.2% in the first quarter. Osborn Rohs Williams & Donohoe Ltd now owns 37,884 shares of the coffee company’s stock valued at $2,262,000 after buying an additional 20,112 shares during the period. Finally, RNC Capital Management LLC raised its stake in Starbucks Corp. by 2.0% in the first quarter. RNC Capital Management LLC now owns 17,499 shares of the coffee company’s stock valued at $1,045,000 after buying an additional 350 shares during the period. 68.13% of the stock is currently owned by institutional investors.
Starbucks Corp. Company Profile
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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