Starbucks (SBUX) Rating Reiterated by Barclays
Starbucks (NASDAQ:SBUX)‘s stock had its “equal weight” rating restated by equities research analysts at Barclays in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $65.00 price objective on the coffee company’s stock, up from their previous price objective of $58.00. Barclays’ price objective would indicate a potential upside of 7.30% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Stephens reiterated an “equal weight” rating and issued a $52.00 price objective (down previously from $58.00) on shares of Starbucks in a research report on Friday, September 29th. They noted that the move was a valuation call. Credit Suisse Group lowered their price objective on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. OTR Global upgraded Starbucks to a “positive” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded Starbucks from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Starbucks in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Starbucks currently has a consensus rating of “Buy” and a consensus price target of $63.36.
Starbucks (SBUX) traded up $0.02 during trading on Tuesday, hitting $60.58. The stock had a trading volume of 3,318,384 shares, compared to its average volume of 6,757,880. Starbucks has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $86,380.00, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.64 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. research analysts forecast that Starbucks will post 2.37 earnings per share for the current year.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the sale, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of Starbucks stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock worth $28,559,521 over the last three months. 3.40% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. First American Bank lifted its holdings in shares of Starbucks by 6.2% during the second quarter. First American Bank now owns 21,222 shares of the coffee company’s stock valued at $1,237,000 after purchasing an additional 1,236 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in shares of Starbucks by 145.5% during the second quarter. Perkins Coie Trust Co now owns 17,379 shares of the coffee company’s stock valued at $1,013,000 after purchasing an additional 10,299 shares during the last quarter. Evanson Asset Management LLC lifted its holdings in shares of Starbucks by 32.2% during the second quarter. Evanson Asset Management LLC now owns 6,514 shares of the coffee company’s stock valued at $380,000 after purchasing an additional 1,585 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Starbucks by 31.3% during the second quarter. Koshinski Asset Management Inc. now owns 6,843 shares of the coffee company’s stock valued at $399,000 after purchasing an additional 1,632 shares during the last quarter. Finally, RB Capital Management LLC lifted its holdings in shares of Starbucks by 1.4% during the second quarter. RB Capital Management LLC now owns 50,508 shares of the coffee company’s stock valued at $2,945,000 after purchasing an additional 701 shares during the last quarter. 70.72% of the stock is currently owned by institutional investors and hedge funds.
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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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