Starbucks Corporation (NASDAQ:SBUX) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, The Fly reports.

Several other equities research analysts have also weighed in on the company. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Starbucks Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reaffirmed an “outperform” rating and issued a $63.00 target price (down from $66.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 target price on shares of Starbucks Corporation in a research report on Sunday, July 30th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $65.00 target price (down from $66.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company. Starbucks Corporation currently has a consensus rating of “Buy” and a consensus target price of $64.93.

Starbucks Corporation (SBUX) opened at 54.52 on Wednesday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm has a market capitalization of $78.72 billion, a PE ratio of 27.52 and a beta of 0.80. The stock has a 50 day moving average of $58.05 and a 200-day moving average of $58.43.

Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts predict that Starbucks Corporation will post $2.08 EPS for the current year.

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In other Starbucks Corporation news, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of the sale, the insider now directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the sale, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Large investors have recently made changes to their positions in the company. Appropriate Balance Financial Services Inc. increased its stake in Starbucks Corporation by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after buying an additional 13 shares during the period. Union Bankshares Corp increased its stake in Starbucks Corporation by 0.4% in the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock worth $204,000 after buying an additional 14 shares during the period. Vaughan David Investments Inc. IL increased its stake in Starbucks Corporation by 0.6% in the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock worth $271,000 after buying an additional 26 shares during the period. Alpha Windward LLC increased its stake in Starbucks Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 2,961 shares of the coffee company’s stock worth $173,000 after buying an additional 30 shares during the period. Finally, CWM LLC increased its stake in Starbucks Corporation by 0.6% in the second quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock worth $308,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 69.85% of the company’s stock.

Starbucks Corporation 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.

The Fly

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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